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Thread: Is PCPing a new car really cheaper than buying a used car

  1. #1

    Is PCPing a new car really cheaper than buying a used car

    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

  2. #2

    Re: Is PCPing a new car really cheaper than buying a used car

    Yes my friend, do it. No bills for anything and as you say no depreciation. DO IT

  3. #3

    Re: Is PCPing a new car really cheaper than buying a used car

    Better to Lease rather than PCP in my opinion. More freedom at end of deal and usually cheaper rates.

  4. #4

    Re: Is PCPing a new car really cheaper than buying a used car

    Phencyclidine (PCP), also known as angel dust, is quite dangerous, and I certainly would not recommend driving whilst under the influence.

  5. #5

    Re: Is PCPing a new car really cheaper than buying a used car

    Careful, you'll have the PCP brigade getting all uptight now.

  6. #6

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by ian gibson View Post
    Phencyclidine (PCP), also known as angel dust, is quite dangerous, and I certainly would not recommend driving whilst under the influence.

  7. #7

    Re: Is PCPing a new car really cheaper than buying a used car

    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.

  8. #8

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by Cyclops View Post
    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.

    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)

  9. #9

    Re: Is PCPing a new car really cheaper than buying a used car

    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!!

  10. #10

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by WJ99mobile View Post

    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
    They'll be snapped up by people with more sense than money without requiring status symbols.
    Hope this helps.

  11. #11

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by Cyclops View Post
    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.
    Quote Originally Posted by Steve R View Post
    They'll be snapped up by people with more sense than money without requiring status symbols.
    Hope this helps.
    Some would say investing in a depreciating asset doesn’t make much sense.

  12. #12

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by Fine Lines View Post
    Some would say investing in a depreciating asset doesn’t make much sense.
    Others would say paying the depreciation on someone else's behalf and returning the car getting next to nothing in return makes even less sense

  13. #13

    Re: Is PCPing a new car really cheaper than buying a used car

    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?

  14. #14

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by ian gibson View Post
    Phencyclidine (PCP), also known as angel dust, is quite dangerous, and I certainly would not recommend driving whilst under the influence.

  15. #15

    Re: Is PCPing a new car really cheaper than buying a used car

    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

  16. #16

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by Philo2 View Post
    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?
    If I had a time machine this is what I would do

    It is nice having a brand new car but after a few months it is just like driving any other car

  17. #17

    Re: Is PCPing a new car really cheaper than buying a used 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.

  18. #18

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by Fine Lines View Post
    Some would say investing in a depreciating asset doesn’t make much sense.
    If you think a car (especially a new one) is an investment then you're a salesman's dream.

  19. #19

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by Dr Lecter View Post
    If you think a car (especially a new one) is an investment then you're a salesman's dream.
    I think a car is a terrible investment , that’s why I lease.

  20. #20

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by Fine Lines View Post
    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.
    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.

    Obviously if you did a standard loan then a lot cheaper but then lose the benefits of a PCP

  21. #21

    Re: Is PCPing a new car really cheaper than buying a used car

    Quote Originally Posted by WJ99mobile View Post
    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.

    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.

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