M2RTY
Member
Registered: 25th May 01
User status: Offline
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no pics yet?
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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Only down side is if you do the miles it ups the cost or you pay for every extra mile you do...
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by Danny P
quote:
Originally posted by whitter45
nope although the missus mother works for Asda so we got 10% partners discount
basically we got a red VXR with 18's brand new for 1280 deposit, 230 a month with a start payment and end payment of 368 with about 8.5k to clear at the end or give back in 2 years time
[Edited on 27-08-2009 by whitter45]
Might be a daft question, but i'm going to ask anyways 
When you hand the car back, i'm guessing you can start over again on another brand new car under a similar scheme (if available obviosuly) Never really looked into anything like this before as i've always paid for my car straight off. However, if your after a new car (as I am at the minute) it seems quaite a good idea.
OK, you'll never lose the car and I suppose in a way its effectivley like "renting" the car for a few years at a monthly cost, but you get to drive a decent & new car on a regular basis.
Pretty much, mini were doing a deal where you put down a depost and mini match it up to £1000, so the mrs put £500 down and mini put £500 in. You then tell them how many miles you are likely to do over the period of 1,2 or 3 years(3 is max), they then get you a garenteed minimum value for the car after the term. Mini worked out that after the 3 years they would give a minimum of £8k for the car and that she would have £6k left as the final payment, therefore she could either part ex and use the 2k equity on another car or pay off the outstanding balance. If the car is worth less than the outstaning finance the dealer makes up the difference in this case, they may not all be the same. Also if the car is worth more than the garenteed min value you get more back. As your only financing part of the car they can offer better interest rates.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by M2RTY
no pics yet?
Didnt get it mate. Me and the Mrs had a discussion about it, were going to mini today to see what they will give her for her car, shes only had it 12 months so not sure it they will give us enough to clear the finance. If they can, were getting a car between us and paying half each and ill upgrade the run about to something slightly better. Will work out cheaper for both of us as it will mean paying £250pm finance between the two of us rather than £250pm each.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by John
Where is a good place to look at these PCP deals?
The sites I'm finding want you to phone or email for real figures, why can they not just have a table showing you.
They can't have tables Jon because they cant work out the minimum garenteed value of the car following the term as this varys from car to car and the mileage limits. This website can work it out if you choose a car thats the same price as what you were thinking, just for an idea...
http://www.nowvauxhall.co.uk/UsedQuery.aspx
Its good because you can adjust the term and mileage allowance and comapare side by side HP, LP and PCP.
It would be good to work out which would be better financially,
5 year HP and trade in after 3(providing interest is not charged to the end of the agreement) Or
3 Year PCP...
[Edited on 29-08-2009 by CorsAsh-Sport]
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by CorsAsh-Sport
quote:
Originally posted by M2RTY
no pics yet?
Didnt get it mate. Me and the Mrs had a discussion about it, were going to mini today to see what they will give her for her car, shes only had it 12 months so not sure it they will give us enough to clear the finance. If they can, were getting a car between us and paying half each and ill upgrade the run about to something slightly better. Will work out cheaper for both of us as it will mean paying £250pm finance between the two of us rather than £250pm each.
Exactly what I've done with my other half apart from I've not got the need for a runaround just now.. Be prepeared to never see the car unless it needs washed, seams to be how its working for me.. 
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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If I was buying a new car I'd compare the deposit and monthly figures between a PCP and personal leasing, then go with the cheapest.
In my opinion PCP's leave very little if any equity so don't count on it. Get the car valued in glasses at the end of your term and if it is under the guaranteed future value just hand it back. Then you can haggle the hell out of whichever salesperson you want to for your next car.
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