Nigel is spot on regarding PCP. Whilst it’s an affordable way of driving a new car and I’m not knocking anyone who chooses to go down this route, you should really be aware of interest charges, penalties if you end the contract early, final settlement etc.
When a customer goes into a dealership and says I can afford X amount of ££’s per month with no clue on interest charges and other associated costs, you see the salesman’s eyes light up🤑🤑
Lol thanks m8 yeah people don’t realise because they only look at the monthly amount unless they’ve done the research the salesman is not at Liberty to disclose the small print it’s all in front of you to read for yourself,like the comment earlier I only pay interest on what I’m paying yeah that’s exactly how it looks so much down so much a month.
Years ago I nearly got caught big time on an M4 the small amount down with a monthly that was a lot but far cheaper than finance,you can finance these things in a much cheaper way where’s you get you’re deposit back as long as you don’t keep the car too long that it becomes worth less than the big deposit initially used.
if I estimated that the vehicle I’m buying will drop by 25% over 3 years i would put down 70-75% I always do this on cars it always ends up costing just a few grand to own it over that period then full deposit back,at the moment with the right car you’ve made money.
This method can only be done if you can lump a big deposit down and people that sell PCP know this and any decent salesman would tell you this,its just like you’re own PCP without the huge interest you get nothing for money in the bank anyway.
