A female friend is looking into a pcp deal on a new reliable car with ideally £0 or very low deposit and low monthly payments
Has anyone done a good deal very recently as they've gone up a lot since a few weeks ago
Something vw polo ish sized ?
I'm off to google but someone might have found a cracking deal |
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"I'm thinking about doing this. Seems to be a cheapish way of getting a new car.
My friend has a fiat 500 @ £150 a month
Another has a mini @ £210 a month"
The deals seem to change quite quickly and a lot of the best deals require quite a hefty down payment.
Fiat have some good offers with low deposits I just hope they're more reliable than they were.
I know they can screw you for money if it goes back with little scratches and dents
I've just found ling cars who was on dragons den she has a few ok deals, I'll continue to search |
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"Just don't get caught out on the annual mileage allowance as that can be a very costly mistake.  "
I had a company vehicle ages ago and they had miscalculated so I had to swap mine with someone who had done fewer miles
I've just found a dealership doing what they call fuel and go which looks promising.
I just don't want her ripped off so will check the small print |
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When hubby worked for a company many years back, their company cars all came from Renault.
The fleet department hadn't realised that when they signed up for the deal, the small print stated that vehicles could only do 25,000 kilometres per annum and it cost the company a fortune at £0.14p per KM over.
They had mistakenly assumed it was miles, strangely the guy who signed the deal lost his job not long after. |
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By (user no longer on site)
over a year ago
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"It's not the actual car it's more who's done the best deal recently and what's reliable and cheap @ polo size
A friends wife had a polo on pcp 3 years no deposit £160 and it's now @£215
"
Jeez last year I was considering a citreon C1 it was only around 3 monthly payments up front then £68 a month..just had a look on seeing this thread..and you can expect to pay double now |
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By (user no longer on site)
over a year ago
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Best time for lease deals is just as the new Reg comes out.
I got a VW Tiguan R, including tax, servicing, tyres and windscreen replacement for £215 a month 6 months down, 3 years, 12000 miles.
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I've leased my vehicle for almost 10 years now (3 different vehicles) and it's much better than a PCP, no balloon payment at the end, just start a new contract.
Usually 3 months payments up front followed by a monthly payment for 2,3,4 or 5 years. Can include maintenance in the plan also.
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"I've leased my vehicle for almost 10 years now (3 different vehicles) and it's much better than a PCP, no balloon payment at the end, just start a new contract.
Usually 3 months payments up front followed by a monthly payment for 2,3,4 or 5 years. Can include maintenance in the plan also.
"
The pcp is the same now, the balloon is optional if you want to buy the car otherwise you just return the car and walk away and the maintenance package is available.
I've found a couple of deals on pre registered cars with under 5k mileage so that's cheaper as they've already depreciated more than a zero mileage new car
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By (user no longer on site)
over a year ago
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"I've leased my vehicle for almost 10 years now (3 different vehicles) and it's much better than a PCP, no balloon payment at the end, just start a new contract.
Usually 3 months payments up front followed by a monthly payment for 2,3,4 or 5 years. Can include maintenance in the plan also.
"
the problem with lease is, after years of paying (usually very similar amount of money compared to PCP) monthly instalments, you don't own the car |
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By (user no longer on site)
over a year ago
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"I've leased my vehicle for almost 10 years now (3 different vehicles) and it's much better than a PCP, no balloon payment at the end, just start a new contract.
Usually 3 months payments up front followed by a monthly payment for 2,3,4 or 5 years. Can include maintenance in the plan also.
The pcp is the same now, the balloon is optional if you want to buy the car otherwise you just return the car and walk away and the maintenance package is available.
I've found a couple of deals on pre registered cars with under 5k mileage so that's cheaper as they've already depreciated more than a zero mileage new car
"
Shouldn't pre-registered cars have only delivery mileage on them? |
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"I've leased my vehicle for almost 10 years now (3 different vehicles) and it's much better than a PCP, no balloon payment at the end, just start a new contract.
Usually 3 months payments up front followed by a monthly payment for 2,3,4 or 5 years. Can include maintenance in the plan also.
The pcp is the same now, the balloon is optional if you want to buy the car otherwise you just return the car and walk away and the maintenance package is available.
"
This is true, however my understanding is that there is more risk of owing the dealer if your PCP car doesn't meet the valuation. Leased vehicles are expected to have small marks and minor dent without being penalised. |
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"I've leased my vehicle for almost 10 years now (3 different vehicles) and it's much better than a PCP, no balloon payment at the end, just start a new contract.
Usually 3 months payments up front followed by a monthly payment for 2,3,4 or 5 years. Can include maintenance in the plan also.
the problem with lease is, after years of paying (usually very similar amount of money compared to PCP) monthly instalments, you don't own the car "
But you'll only owe the car on a PCP if you pay the 5K or whatever deal you have as a balloon payment at the end. If you don't have the 5K then you get a loan and continue with the payments for another 3 years and then you'll own it. Or give it back and use any profit from the sale of the vehicle to use as a deposit on a new one.
Lease: I've got a new car on order £1600 down, 47 payments of £270. Walk away at the end, give it back and get a new one.
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By (user no longer on site)
over a year ago
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"I've leased my vehicle for almost 10 years now (3 different vehicles) and it's much better than a PCP, no balloon payment at the end, just start a new contract.
Usually 3 months payments up front followed by a monthly payment for 2,3,4 or 5 years. Can include maintenance in the plan also.
the problem with lease is, after years of paying (usually very similar amount of money compared to PCP) monthly instalments, you don't own the car
But you'll only owe the car on a PCP if you pay the 5K or whatever deal you have as a balloon payment at the end. If you don't have the 5K then you get a loan and continue with the payments for another 3 years and then you'll own it. Or give it back and use any profit from the sale of the vehicle to use as a deposit on a new one.
Lease: I've got a new car on order £1600 down, 47 payments of £270. Walk away at the end, give it back and get a new one.
"
pcp: initial 3 years of payments, then either pay 5k or loan and repay another 2 years, so 5 years of payments and you own the car
Lease: initial deposit + 4 years of payments and you walk away with nothing
Seems like a no braier to me |
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By (user no longer on site)
over a year ago
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Got my first pcp deal just over a year ago
Decent price for a relatively newish car
But I'll judge it when I go to change the car and I see how much it costs then
I've heard they pretty much x-ray the car to look for faults and charge accordingly... |
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By (user no longer on site)
over a year ago
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"I've leased my vehicle for almost 10 years now (3 different vehicles) and it's much better than a PCP, no balloon payment at the end, just start a new contract.
Usually 3 months payments up front followed by a monthly payment for 2,3,4 or 5 years. Can include maintenance in the plan also.
the problem with lease is, after years of paying (usually very similar amount of money compared to PCP) monthly instalments, you don't own the car
But you'll only owe the car on a PCP if you pay the 5K or whatever deal you have as a balloon payment at the end. If you don't have the 5K then you get a loan and continue with the payments for another 3 years and then you'll own it. Or give it back and use any profit from the sale of the vehicle to use as a deposit on a new one.
Lease: I've got a new car on order £1600 down, 47 payments of £270. Walk away at the end, give it back and get a new one.
pcp: initial 3 years of payments, then either pay 5k or loan and repay another 2 years, so 5 years of payments and you own the car
Lease: initial deposit + 4 years of payments and you walk away with nothing
Seems like a no braier to me"
Don’t see the point!!
Looked into all this recently, rather get a bank loan of 10000 at 2.8% apr - that’s interest of about £600 at the end of 5 yrs,
Trouble is with pcp if you want to own the car you pay your deposit (£1250ish), then monthly payments over say 5yrs (220ish) and then at the end of the deal u have to stump up another £5000ish, so you now need a bank loan and at £5000 over 36 months is around £140ish at a higher apr than if you borrowed £10000 - £15000 !
You won’t own the car as with pcp the car manufacturer does (5yrs) and then the bank will as with the car loan (3yrs) and then 8 years down the road when the car is worth nothing ( barely £1000) it will then become yours! Hurrah You’ve just bought your brand new car,
Or at the end of the pcp period you could just hand the car back to the dealer, and start a new contract, hand out another £1000 and monthly payments and spend thousands with nothing to show for it at the end 
Hmmm choices lol |
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By (user no longer on site)
over a year ago
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I pay approx £1300 a month on my lease after paying £5k deposit. If I took the same car on a pcp I'd have to pay about £12-15k deposit, £1500pm and still have £40k outstanding at the end of 3 years. For me it is a no brainer |
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By (user no longer on site)
over a year ago
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"I pay approx £1300 a month on my lease after paying £5k deposit. If I took the same car on a pcp I'd have to pay about £12-15k deposit, £1500pm and still have £40k outstanding at the end of 3 years. For me it is a no brainer"
Whoa what lambo do you drive? |
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By (user no longer on site)
over a year ago
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"I pay approx £1300 a month on my lease after paying £5k deposit. If I took the same car on a pcp I'd have to pay about £12-15k deposit, £1500pm and still have £40k outstanding at the end of 3 years. For me it is a no brainer
Whoa what lambo do you drive?"
I don't. Range Rover Sport |
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By (user no longer on site)
over a year ago
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Not bad on a £60000 pound vehicle I suppose,, but at that money unless it’s put through a business or you buy it out right as you can afford it, it’s not worth the pcp costs, as let’s face it if you can afford a balloon payment of 40k you can buy it outright |
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I could afford to buy it outright but it goes through the business so leasing makes sense