New Car PCP Advice

[mandevillepete]

Well. The dealer was absolutely indifferent and disinterested. At least we saw the car we liked and will go to a different dealer tomorrow. Seems with some places you cant spend your money. We were out to buy two brand new cars from the same dealer. We could have paid cash or pcp (we were interested to see what difference it made - apparently none!). Let’s see what tomorrow brings.

[bernard301]

Originally Posted by mandevillepete

Well. The dealer was absolutely indifferent and disinterested. At least we saw the car we liked and will go to a different dealer tomorrow. Seems with some places you cant spend your money. We were out to buy two brand new cars from the same dealer. We could have paid cash or pcp (we were interested to see what difference it made - apparently none!). Let’s see what tomorrow brings.

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That's where carwow comes into its own, you order online, get the best discounts and most dealers will even deliver!

[neilhd]

Originally Posted by Floridag1rl

Hello

Yes we have had a PCP they gave a final value of the car after 3 years to trade in but then revoked on the figure by a few thousand so the car was worth less than we owed so we gave it back. I would never get into one again.

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Its not the dealer revoking on the figure, its what the market value of the car is at that point.

And - you actually did fine out of it. If they said the car would be worth £20k afterwards and they gave you £20k at the end, your net position is £0. If, however, the car is worth £17k, they take a £3k hit instead of you.

[Floridag1rl]

Originally Posted by mandevillepete

Well. The dealer was absolutely indifferent and disinterested. At least we saw the car we liked and will go to a different dealer tomorrow. Seems with some places you cant spend your money. We were out to buy two brand new cars from the same dealer. We could have paid cash or pcp (we were interested to see what difference it made - apparently none!). Let’s see what tomorrow brings.

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If you can pay cash I wouldn't touch a PCP, personally I would be looking for a demonstrator already registered that you could buy at a knock down price with all the toys on. To me a PCP is just dead money. I know others will disagree. We only got burnt once, we won't get burnt again.

[Moorlandman]

Originally Posted by Floridag1rl

If you can pay cash I wouldn't touch a PCP, personally I would be looking for a demonstrator already registered that you could buy at a knock down price with all the toys on. To me a PCP is just dead money. I know others will disagree. We only got burnt once, we won't get burnt again.

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PCP is the most popular way to finance a car. You are more likely to get burnt paying cash!

[bernard301]

Originally Posted by Floridag1rl

If you can pay cash I wouldn't touch a PCP, personally I would be looking for a demonstrator already registered that you could buy at a knock down price with all the toys on. To me a PCP is just dead money. I know others will disagree. We only got burnt once, we won't get burnt again.

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Actually, if you have cash, get a PCP deal with the associated discounts and pay it off in full within 14 days. Dealers don't want to deal in cash purchases, they make more money from the finance houses

[Floridag1rl]

Originally Posted by bernard301

Actually, if you have cash, get a PCP deal with the associated discounts and pay it off in full within 14 days. Dealers don't want to deal in cash purchases, they make more money from the finance houses

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Good idea, the only thing is the dealer won't play ball with any discounts for the thread starter.

[Floridag1rl]

Originally Posted by Moorlandman

PCP is the most popular way to finance a car. You are more likely to get burnt paying cash!

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You are probably right, I just don't like a PCP it is just me. The way I see it is, you buy a car via PCP normally over three years with a balloon payment at the end of it or you trade the car in or give it back. I have never seen a balloon payment yet which is less than the car is worth. People I know struggle to get the trade in price which is the same as or more than the balloon payment. So your offered trade in at £4000 but you owe £5000 at the end of 3yrs, you then have no choice but to hand the car back. So realistically you have paid a loan for three years and have nothing at the end of it. So you then have to find a deposit for another car and another PCP, it just never ends. I hate car loans, I like to own my car. On average we spend around £1000 a year on our car, servicing, tyres and the odd thing that may go wrong. Then on top you have the PCP loan to continually pay, I just cannot see as it is viable.

[mandevillepete]

Originally Posted by bernard301

That's where carwow comes into its own, you order online, get the best discounts and most dealers will even deliver!

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The offers that you get through from Carwow. When you contact the dealer are they actually there or do the dealers try to sell you something else? Not sure how to go about buying online. This is all new to me. Thanks for all the advice so far.

[danisleigh]

I picked my car up on Friday and got an ok deal. I had a car on PCP that was due to end in the new year and assumed I would need time to order my next one but they had one in the showroom the colour I wanted and all of the extras apart from parking sensors so they fitted them for me for free and I got some other stuff like extended warranty, car mats and boot liner and a tank of fuel as well as a very small discount and a small deposit contribution from them. The salesman did tell me mine was the first new car he had sold this month on the new 69 plate and sales have been slow so they were keen to sell this car rather than factory order one for the new year which meant they were more open to deals.