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Visited Cardiff Audi yesterday and they have made a good argument that if you change your car anyway over 3-4 years, depreciation, finance etc makes it a no brainer for going new (as the bubble payment never gets realised)
On a side note, If this is the case when PCPing becomes more and more popular what happens to the ludicrious amounts of used cars that will be left on forecourts
Yes my friend, do it. No bills for anything and as you say no depreciation. DO IT
Better to Lease rather than PCP in my opinion. More freedom at end of deal and usually cheaper rates.
Phencyclidine (PCP), also known as angel dust, is quite dangerous, and I certainly would not recommend driving whilst under the influence.
Careful, you'll have the PCP brigade getting all uptight now.
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Originally Posted by ian gibson
From the little I know about PCP, I've always thought the biggest downside is how the car is valued at the end of the 'loan' period.
Spot on. They use it as a tool to entice you into a new deal. You will invariably have “equity” in the old car and they will want you to use this as a deposit on a new shiny car with the same manufacturer. This limiting your options.Quote:
Originally Posted by Cyclops
You do of course have the option of just walking away and going to a different manufacture but that means walking away from equity that you have already paid for (by higher payments than a lease deal)
I pay the same for my car per month as I would have done on a pcp, albeit I'm paying for an extra two years. I didn't pcp as my kids will probably ruin the motor!!
They'll be snapped up by people with more sense than money without requiring status symbols.Quote:
Originally Posted by WJ99mobile
Hope this helps.
Quote:
Originally Posted by Cyclops
Some would say investing in a depreciating asset doesn’t make much sense.Quote:
Originally Posted by Steve R
Others would say paying the depreciation on someone else's behalf and returning the car getting next to nothing in return makes even less senseQuote:
Originally Posted by Fine Lines
Why don't you PCP a used car and get the good finance rate whilst dodging the hit you get from driving a new car off the forecourt?
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Originally Posted by ian gibson
It does grind when you think you basically burning money.
I have no plan to purchase my car at the end of the 3 years
If I had a time machine this is what I would doQuote:
Originally Posted by Philo2
It is nice having a brand new car but after a few months it is just like driving any other car
When I visited a well know Newport car supermarket to look at used cars on a PCP deal , there was very little difference between them and leasing a brand new one.
If you think a car (especially a new one) is an investment then you're a salesman's dream.Quote:
Originally Posted by Fine Lines
I think a car is a terrible investment , that’s why I lease.Quote:
Originally Posted by Dr Lecter
The used version with 2k miles on the clock on a straight PCP was more expensive than the new, albeit with a lower balloon payment.Quote:
Originally Posted by Fine Lines
Obviously if you did a standard loan then a lot cheaper but then lose the benefits of a PCP
What was the lease price ? Usually cheaper than the PCP deal.Quote:
Originally Posted by WJ99mobile