PCP Car Frustration

[WTFH]

Bought. The only reason i didnt take lease was that i couldnt get it as have only 1 year on LTD.

Good man, you're learning. Did you put it on a credit card, then shift it to a 0% balance transfer one?

[Old Greg]

Good man, you're learning. Did you put it on a cashback credit card, then shift it to a 0% balance transfer one?

FTFY

[diseasex]

Good man, you're learning. Did you put it on a credit card, then shift it to a 0% balance transfer one?

Actually yeah , that cash is sitting now and earning interest on 123, ready to repay the card at any time. Also use American express 1% cashback for pretty much every purchase

[LondonManc]

PCPs are a fantastic finance tool for car sales backers.


I can sell you a loan and give you the collateral to cover it, whilst also giving you the responsibility of maintaining said collateral.
Still, if the GFV is less than the market value of the car, it's pretty good. If the GFV is £4800, and the car's worth £4500, that's not great.

[unemployed]

Good man, you're learning. Did you put it on a credit card, then shift it to a 0% balance transfer one?

I tried to pay for a car with a cc , dealer said it would incur a 1.5% charge

how do you get around that one , as every dealer i spoke was the same ?

[bobspud]

I drive a battered Mondeo. When I finish the house I'll buy something nice, but you don't put paving slabs in a Merc if you can avoid it.

I did the same when we renovated our place. we had a couple of snot wagons that I didn't mind destroying now we have nice toys.

I bought my 2 YO beemer for 20k, 16k miles. It was 39k new so someone paid 19k to drive only 16k miles and sold for half the value

Yes if you are not fussy about options and colour combinations finding an idiot to suffer the first few painful years of depreciation is a great way to go.

[quackhandle]

I tried to pay for a car with a cc , dealer said it would incur a 1.5% charge

how do you get around that one , as every dealer i spoke was the same ?

I could be incorrect here but I'm sure I read that you can pay £100 on the cc, then rest via BACS/cheque/etc and you'll still be covered, via the cc, for the full cost.

Was a while ago mind.

qh

[diseasex]

I tried to pay for a car with a cc , dealer said it would incur a 1.5% charge

how do you get around that one , as every dealer i spoke was the same ?

I couldn't buy on CC, I've taken barclay's CC to bank transfer @1% for a year. and that cash is making me 3% a year so i guess a bonus.

[WTFH]

Bought the Wife's (tm) car as an ex-management one. 9 months old, 5k on the clock, £8k below list.
The best deal I could get was on HP, so I bought it that way.


The deal was 3 years free servicing and an extra £2k off the price.


So, I took it on HP. Got the 3 years free servicing vouchers when I picked the car up.
Of course, you have a 14 day cooling off period on a finance loan like that, so 10 days after getting the car, I paid it off. No interest, no hassle and over £600 saved from the servicing.

[diseasex]

Bought the Wife's (tm) car as an ex-management one. 9 months old, 5k on the clock, £8k below list.
The best deal I could get was on HP, so I bought it that way.


The deal was 3 years free servicing and an extra £2k off the price.


So, I took it on HP. Got the 3 years free servicing vouchers when I picked the car up.
Of course, you have a 14 day cooling off period on a finance loan like that, so 10 days after getting the car, I paid it off. No interest, no hassle and over £600 saved from the servicing.

Nice trick. "Give me a discount because i'm taking it on finance" - they will think they can make money on interest and will give you reduced price, which then you repay. Gonna use it