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Old 30 Sep 19, 10:16 PM  
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#51
Floridag1rl
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Just makes me wonder, if carwow can do these great prices then what can you get at the auctions.
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Old 30 Sep 19, 11:37 PM  
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I bought a 12 month old focus, and it averaged £115 a month depreciation over the years. A brand new focus on PCP for me is £200 a month on deposit of £200 . So to have a new car on PCP effectively would cost me £85 a month extra . And I'm allowed to change at 9 months to another car/ deal with renewal bonus of £500 which off sets the £85 to £29 month .
So not much in it from buying secondhand and PCP.
Unless I'm missing something?
Never had PCP, and still not sure whether to have one.
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Old 30 Sep 19, 11:54 PM  
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#53
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Originally Posted by Floridag1rl View Post
Just makes me wonder, if carwow can do these great prices then what can you get at the auctions.
You can get a very good car at a good price or it can turn out to be a dog. You really need to know what you are doing as it can be risky to go that route. You need to have a good mechanic with you if at all unsure.
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Old 30 Sep 19, 11:59 PM  
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Auction values on nearly new cars are higher than people realise.
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Old 1 Oct 19, 09:47 PM  
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HappyGoLucky
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I had a new car on a PCP and after 3 years I wanted to change it but it was in negative equity and the dealer wanted to charge me £2.5k to swap or even more to hand it back .
I ended up part exchanging it with a local garage but still had to pay £2k for them to take it off me.
I would never do a PCP again .
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Old 2 Oct 19, 04:55 AM  
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Originally Posted by HappyGoLucky View Post
I had a new car on a PCP and after 3 years I wanted to change it but it was in negative equity and the dealer wanted to charge me £2.5k to swap or even more to hand it back .
I ended up part exchanging it with a local garage but still had to pay £2k for them to take it off me.
I would never do a PCP again .
Were you trying to change before the end of your agreed terms? I looked to do this last year and had some negative equity as the final value of the car is only guaranteed at the end of your terms. Once you reach the end then they take the hit on any negative equity. When I went back a few months from the end It was actually worth £150 more than the promised value so that went in towards my new one.
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Old 2 Oct 19, 07:24 AM  
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#57
Floridag1rl
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Originally Posted by HappyGoLucky View Post
I had a new car on a PCP and after 3 years I wanted to change it but it was in negative equity and the dealer wanted to charge me £2.5k to swap or even more to hand it back .
I ended up part exchanging it with a local garage but still had to pay £2k for them to take it off me.
I would never do a PCP again .
This is our experience of a PCP hence why I don't like them.
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Old 2 Oct 19, 10:36 AM  
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Originally Posted by HappyGoLucky View Post
I had a new car on a PCP and after 3 years I wanted to change it but it was in negative equity and the dealer wanted to charge me £2.5k to swap or even more to hand it back .
I ended up part exchanging it with a local garage but still had to pay £2k for them to take it off me.
I would never do a PCP again .
I have a totally different experience with PCPs
I am a Toyota man having owned over a dozen in the past years. I’ve always used PCPs to finance them. I wait until the end of deal and GFMV has always been below what I’ve received at the end, leaving enough for a deposit on the next.
The point of the PCP if you take it to term is that you won’t get negative equity, but if you want to trade before the end of term you may lose out.
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Old 14 Nov 20, 05:53 PM  
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EllieP
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We are looking at part exchange from our VW Tiguan to a Jaguar E or F Pace, after reading this I’m deffo going to give Car Wow a try.
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Old 15 Nov 20, 02:18 PM  
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Disneydreaming_
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Originally Posted by HappyGoLucky View Post
I had a new car on a PCP and after 3 years I wanted to change it but it was in negative equity and the dealer wanted to charge me £2.5k to swap or even more to hand it back .
I ended up part exchanging it with a local garage but still had to pay £2k for them to take it off me.
I would never do a PCP again .
Same here. It was on a Juke that in the time our family member owned it the new one came out. Not sure if that affected the price

Anyway we sold it privately and still had £3k to pay. There was something in the small print that it wasn’t a guaranteed price, but an approximate price which I hadn’t heard of before. But again we weren’t quite at the end of the term so I’m guessing that’s why it wasn’t a guaranteed price. A few months out

Ultimately the car was worth less than we had left to pay.

ETA we had gone over the miles by about 900 miles so expected to pay something.

Edited at 02:20 PM.
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