Car PCP

[rearaxle]

What are you paying a month for make/model of car..

Wife's MG ZS 21 plate.. tyre/scrath/gap insurance £270 a month..not bad I don't think.

Meant to be put into Bully's bar.



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[ezydriver]

W reg Nissan Micra - - £0.

[toonsy]

65 plate Totyora Aygo. Finance finished about a year ago. Thatvwas £110 monthly for four years with £3000 final payment.

It's actually worth about £7k now because of the condition it's in (the mrs has kept it mint) plus the increase in second hand car values.

Other car is a 65 plate Mondeo. Pay just over £200 but that's straight HP, not PCP.

[Stephenjp]

59 plate Landrover Discovery 4 --- £0, bought outright with pension lump sum 4 years ago.

2nd car 69 plate Ford Kuga, £750 advance payment, as its my sons motability car we don't pay anything, son can't drive so the wife and I are named drivers!!

[peirre]

A wise man once said, “if it appreciates in value buy it, if it depreciates in value rent it”

[blue estate]

I’m waiting on a new MG 5 Excite EV , £400 PCP over 4 years GFV of around £12k
But I wouldn’t buy a EV out right yet
Current car KIA Ceed 2 Estate 68 is £400 over 5 years HP car is worth now nearly what it was when I got it Sept 2020

[stu675]

I’m waiting on a new MG 5 Excite EV , £400 PCP over 4 years GFV of around £12k
But I wouldn’t buy a EV out right yet
Current car KIA Ceed 2 Estate 68 is £400 over 5 years HP car is worth now nearly what it was when I got it Sept 2020

What's the deposits that you paid for them?

I'm in the pay for it outright camp with a 66 plate V40 bought 2 yrs ago. A family friend is on his second Tuscon at £250 per month.

[stu675]

A wise man once said, “if it appreciates in value buy it, if it depreciates in value rent it”

I think that's messed up. If it appreciates you should finance it and buy as big as you can. If it depreciates, don't finance it and just buy what you can afford to lose.

[carryfast-yeti]

i've 3 cars.. skoda fabia estate bought for £3,250 cash last year,my everyday car.. focus mk 1 £995 cash parked up at present and a triumph herald convertible £800 cash years ago,summer car

[ScaniaUltimate]

Late year EV. £0
Possible because I've never purchased a car with anything but cash & worked my way up to it - a route than can & should still be taken.

[blue estate]

I’m waiting on a new MG 5 Excite EV , £400 PCP over 4 years GFV of around £12k
But I wouldn’t buy a EV out right yet
Current car KIA Ceed 2 Estate 68 is £400 over 5 years HP car is worth now nearly what it was when I got it Sept 2020

What's the deposits that you paid for them?

I'm in the pay for it outright camp with a 66 plate V40 bought 2 yrs ago. A family friend is on his second Tuscon at £250 per month.

£1500 for MG , KIA was only £500
KIA is in positive equity on the finance that’s why I’m changing

[dozy]

W reg Nissan Micra - - £0.

Well done , this is the way to do it

[Conor]

What are you paying a month for make/model of car..

Wife's MG ZS 21 plate.. tyre/scrath/gap insurance £270 a month..not bad I don't think.

2019 MK4 Ford Focus Titanium TDCi. Nothing, I prefer to own my cars and I keep them for years...had the Mondeo it replaced 8 years/120,000 miles. Bought it as a 5 month old main dealer ex-demo when prices were more sane at a third off new price using the money I'd invested over the years.

Many of the people who are in the financial doo-dah at the moment and using foodbanks are in trouble because of car leases and PCP they can't get out of.

Put a couple of hundred quid a month away, when you need to replace your car use that and whatever you get for your car. Still keep putting the couple of hundred quid away, do the same again. Every time you buy you'll end up getting a newer or higher level one than the one before until you eventually get to the point you can get one a few months old so effectively new outright in cash.

[msgyorkie]

because I've never purchased a car with anything but cash & worked my way up to it - a route than can & should still be taken.

This ^^^^^^^^^^^^^^^^^^^^^^^

Many of the people who are in the financial doo-dah at the moment and using foodbanks are in trouble because of car leases and PCP they can't get out of.

Put a couple of hundred quid a month away, when you need to replace your car use that and whatever you get for your car.

Also this ^^^^^^^^^^^^^^^^^^^
I was always educated to save untill you can afford it. I can remember the early 1990's recession and many of my mates waving goodbye to their GTIs on the back of the repossesion wagon having lost £££££££

Fools and their money are easily parted.

[Roymondo]

because I've never purchased a car with anything but cash & worked my way up to it - a route than can & should still be taken.

This ^^^^^^^^^^^^^^^^^^^^^^^

Many of the people who are in the financial doo-dah at the moment and using foodbanks are in trouble because of car leases and PCP they can't get out of.

Put a couple of hundred quid a month away, when you need to replace your car use that and whatever you get for your car.

Also this ^^^^^^^^^^^^^^^^^^^
I was always educated to save untill you can afford it. I can remember the early 1990's recession and many of my mates waving goodbye to their GTIs on the back of the repossesion wagon having lost £££££££

Fools and their money are easily parted.

Quite - I haven't had anything other than my house on finance since 1996 - and that was also paid off a few years ago.

The idea of working most of a week (or more) every month just to pay for the finance on a car which I still wouldn't actually own 2, 3 or 4 years later is completely insane.

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[the maoster]

I park my car which is probably worth less than a grand in the works car park on a Monday morning beside all the F Paces, M 5’s, Range Rover Sports etc and I feel no envy whatsoever. A car has only ever been a method to get to and from work without getting my hair wet for me.

It’s all about priorities I suppose, I’d never criticise anybody who pays a significant percentage of their wage towards a car, but it’s just not for me. Now, motorcycles on the other hand…….

[robroy]

I park my car which is probably worth less than a grand in the works car park on a Monday morning beside all the F Paces, M 5’s, Range Rover Sports etc and I feel no envy whatsoever. A car has only ever been a method to get to and from work without getting my hair wet for me.

It’s all about priorities I suppose, I’d never criticise anybody who pays a significant percentage of their wage towards a car, but it’s just not for me. Now, motorcycles on the other hand…….

Got to agree mate, if I can t afford to pay for something nowadays, I just don't buy it.
Both our cars are valued under 5k apiece, both of which I bought at trade.
When I sold my Navara after 4 or 5 years,.I actually made a small profit on it.

I've had some good (and too bloody expensive) cars in the past when I was younger, but the fact that I have lost lots of interest in cars, and the lessons that I learned after bankruptcy many years ago, my view is .....why spend in excess of 20k on a car, when I can get a one for a fraction of that, which does the self same job, and is equally as reliable
.
Not really into bikes like you as you know, but I'd think nothing of spending money on a bloody good holiday, or on my social life,.rather than on a car.

[Juddian]

Same here, can't buy it outright won't have it.

Only exception for borrowing for the average working class bod should be to buy the roof over your head, even then be careful not to get caught up in a hysterical overprcing bubble caused by artificially low interest rates (which can change in short order, i well recall 15% mortage interest) paying stupid money for a cloned box on some estate.

No intention of replacing either of our cars, definately not having a battery jobbie because bloody mercenary politicians in the employ of Blofeld (WEF) say we should.

[msgyorkie]

definately not having a battery jobbie

I reckon its going to be a Betamax v VHS scenario soon. Electric V Hydrogen. My new gas boiler is Hydrogen ready and the fitter that installed it reckons natural gas will be switched over to Hydrogen once the infrastructure and the means to power the process is in place.
When that switchover happens and Hydrogen is flowing through the gas mains then Hydrogen fuel for cars buses and trucks will be easier than having to plug in a battery and wait.

[stevieboy308]

I bought a car 6 months ago, I never understood the appeal of PCP, well other than to me it's about having a car you can't afford or at least having a particular one at the lowest actual outlay.

I got the calculator out and I think it worked out about 4k more than to put a chunk down and get a 2.8% loan for the rest.

[dozy]

If I was young I’d be doing exactly what all these youngsters do , buying what I want with not a thought about tomorrow , that’s what I did when I was young , jags motorbikes , buy it one day , change it a week later
You only live once , and not everyone has a long healthy life , brother died from mnd in his 40s
So no I’m old & turned into a tight git , but you kids go out & enjoy life , spend what you like me , have no regrets
Nb I’ll add though I have saved all my lol fe , but have spent as well

[Gidders]

I have a Ford Mondeo,formerly 51 plate, 2lt.diesel which I took to Spain 16 years ago and re registered.Still running to and fro.Just had to put its 2nd.new battery on.5 years ago a new alternator.Pretty cheap motoring.

[edd1974]

Lad where I work in his early 20s has a Audi A4 on a pcp thing. Said once it costs him close to £500 a month..possible insurance as well. Yet he tramps out all week. And his cars just parked at the yard all work I dont get it at all.
Spends all that money and.not getting much use out of it.
Don't begrudge him if he can afford it why not. But personally I'd be putting the money aside as a despoist on a house or buy car outright for cash.
As sure when your pcp runs.out you hand it back or trade it in for another one.

[peirre]

I have a VW Gti which I bought new 3yrs ago for £25K+ cash, money I had in the bank. It’s on a 4yr extended warranty and 4yr dealer servicing contract. With all the extras I spec’d, private plate, security etc it’s probably cost me another £1K on top. It’ll be swopped for another new one next year which will also be paid for with cash in the bank.

I have a Ford Mondeo,formerly 51 plate, 2lt.diesel which I took to Spain 16 years ago and re registered.Still running to and fro.Just had to put its 2nd.new battery on.5 years ago a new alternator.Pretty cheap motoring.

Triggers new broom?

[commonrail]

Bought my van for cash,early 2020.
Bought my car on 0% PCP deal July 21.
10k down,24 mnths@£245,18k to keep it.

[Harry Monk]

I park my car which is probably worth less than a grand in the works car park on a Monday morning beside all the F Paces, M 5’s, Range Rover Sports etc and I feel no envy whatsoever. A car has only ever been a method to get to and from work without getting my hair wet for me.

Mine's the same, Rover 75 bought nine years ago for £2,800 cash. I had to get a lot of work done to it earlier this year, about £2,000s worth but most of the time it just ticks along costing me nothing in finance payments which suits me as I only work sporadically- it's been on a SORN notice since April.

[rearaxle]

I think the way PCP gets you is that its a lot cheaper than HP now , when we got our 1st MG3 in 2017 when the MG3s 1st came out we got HP and the car was only £7,500 brand new, about 150 a month.

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[fatboystu1]

My car 55 plate Micra - £0

Wife's car 10 plate Roomster - £0

Both are cheap to run, cheap to insure cheap to repair if and when anything goes wrong, gets us where we want to go.

[whisperingsmith]

1998 Merc C230 Kompressor Elegance - £800 cash eight years ago.
Has needed a few minor jobs for MOT every couple of years.
Similar models are now listed for sale for up to £16k

[dozy]

I think the way PCP gets you is that its a lot cheaper than HP now , when we got our 1st MG3 in 2017 when the MG3s 1st came out we got HP and the car was only £7,500 brand new, about 150 a month.

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The payments might be , but unless hp has changed you didnt have to pay a large payment at the end whereas you do with pcp