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Cars on PCP

This is one of the cars I mentioned above: https://www.autotrader.co.uk/car-de...stcode=pr21jx&year-to=2020&radius=1500&page=1

I think with this I can use my existing car as part exchange (worth £2300 - 3000), plus £5000 I currently have then a £7000 loan over 3 years (payments of £204.34).

I also asked one of the dealerships to requote their PCP deal as the mileage was too high. They've given a monthly PCP price of £173.39.

I may ask them to quote on another Fiesta model (Active) just to compare.

Still wracking my brains as which route to take - 3 people at work have PCP cars and swear by it.
 
This is one of the cars I mentioned above: https://www.autotrader.co.uk/car-details/202101137918614?sort=distance&model=FIESTA&include-delivery-option=on&advertising-location=at_cars&onesearchad=New&onesearchad=Nearly New&onesearchad=Used&make=FORD&year-from=2020&transmission=Automatic&postcode=pr21jx&year-to=2020&radius=1500&page=1

I think with this I can use my existing car as part exchange (worth £2300 - 3000), plus £5000 I currently have then a £7000 loan over 3 years (payments of £204.34).

I also asked one of the dealerships to requote their PCP deal as the mileage was too high. They've given a monthly PCP price of £173.39.

I may ask them to quote on another Fiesta model (Active) just to compare.

Still wracking my brains as which route to take - 3 people at work have PCP cars and swear by it.
If you’re not going to miss the £5k gaz that sounds a good plan. The interest on the £7k loan is only about £10/month! 👍
 
This is one of the cars I mentioned above: https://www.autotrader.co.uk/car-details/202101137918614?sort=distance&model=FIESTA&include-delivery-option=on&advertising-location=at_cars&onesearchad=New&onesearchad=Nearly New&onesearchad=Used&make=FORD&year-from=2020&transmission=Automatic&postcode=pr21jx&year-to=2020&radius=1500&page=1

I think with this I can use my existing car as part exchange (worth £2300 - 3000), plus £5000 I currently have then a £7000 loan over 3 years (payments of £204.34).

I also asked one of the dealerships to requote their PCP deal as the mileage was too high. They've given a monthly PCP price of £173.39.

I may ask them to quote on another Fiesta model (Active) just to compare.

Still wracking my brains as which route to take - 3 people at work have PCP cars and swear by it.
£173 p/m ain't bad Gaz. I'd be a bit gutted at parting with 5k though, but swings and roundabouts.
 
What's the reason for considering a change? Is your old car bollocksed or do you just fancy a new one? Looking back through the thread it appears it's also a Fiesta? :)
 
if you are going to change your car every 2-4 years go lease or PCP on a new car and preferably electric
lease or PCP is pretty much irrelevant if you are going to replace with another PCP remembering that for lease you need generally three months deposit
if not then buy 2nd hand but no more than 2 years old to ensure all possible faults are ironed but if not you’ve got warranty, then keep it for as long as it’s value is enough to financially access a replacement no more than 2 years old (repeat)
 
What's the reason for considering a change? Is your old car bollocksed or do you just fancy a new one? Looking back through the thread it appears it's also a Fiesta? :)
It's 9 years old now (had it for 6) but fancy a change, plus it doesn't perform particularly well on hills.
 
What engine is it? To be brutally honest I wouldn’t expect the car you linked to being particularly good on hills either what with it being a 1.0 3cyl auto so I’d definitely be testing it before buying it. :)
 
What engine is it? To be brutally honest I wouldn’t expect the car you linked to being particularly good on hills either what with it being a 1.0 3cyl auto so I’d definitely be testing it before buying it. :)
it might only be l but the Ford ecoboost engines perform much better than a regular 1l, ive never had one but a colleague has and even as a passenger in his car you can feel it has more power than any other 1l engine
 
What engine is it? To be brutally honest I wouldn’t expect the car you linked to being particularly good on hills either what with it being a 1.0 3cyl auto so I’d definitely be testing it before buying it. :)
It's 1.4L. Unfortunately test driving it is out of the question with the current situation.

I have heard and read very positive reviews about the engine though.
 
Think it's likely I'll take the PCP route. These are two quotes I have:

RRP £23285.00
Total Vehicle Factory Options Price £416.67
Number Plates £20.83
Discount £2046.70
VAT @ 20% £3433.16
VED Cost £175.00
First Reg Fee £55.00
Retail Vehicle Price £18775.00
Part Exchange £0.00
Settlement £0.00
Customer Saving £2456.04
Our Price £20828.96
Deal Cost to Change £20828.96


Options Finance

Cash £5000.00 (not sure why they put that as my existing car will be part-ex plus £2k deposit).
Payment £173.39
Optional Final Payment £8240.00
Mileage 6000
Term 38
Amount of Credit £14828.96
Total Amount Payable £20828.96
Total Charge for Credit £0.00
Deposit Allowance £1000.00
Rate of Interest 0.00%
Excess Mileage Charge £0.06
APR 0.0%

Retail Vehicle Price £18775.00
Total Vehicle Factory Options Price £416.67
Number Plates £20.83
Discount £2127.50
VAT @ 20% £3417.00
VED Cost £175.00
First Reg Fee £55.00
RRP £23285.00
Settlement £0.00
Customer Saving £2553.00
Our Price £20732.00
Deal Cost to Change £18432.00

Options Finance

Cash £2000.00
Payment £199.78
Optional Final Payment £8108.00
Mileage 6000
Term 36
Amount of Credit £15432.00
Total Amount Payable £20732.00
Total Charge for Credit £0.00
Deposit Allowance £1000.00
Rate of Interest 0.00%
Excess Mileage Charge £0.06
APR 0.0%

Just to throw a spanner in the works, I can still offer you 0% finance, and if you took the car for 38 months rather than 36, I can get your payments down even further to £189.26.

First quote is from Sidney Jackson Ford in Macclesfield. Second one is from Evans Halshaw who are getting very pushy.
 
Buy a 12/24 month old car, it's already lost a tremendous amount of value and you'll be able to buy a much better spec, it'll be cheaper and you'll be able to afford it, that's what we always do.
Most definitely the best way to go about it. More money than sense those people who buy a brand spanking new car outright imo
 
This is important @shabbagaz
I can’t see your GMFV
Guaranteed minimum future value
This is the minimum they will offer you in three years
Then see what good condition three year old cars the same or as near as this one sell for
This is how you can end up with a little for a deposit
eg
GMFV = £5k
Three year old variant = £5700 trade in
So you would when you go back look for them to offer you £5700 on the car remembering it isn’t yours though
Make sense ?
 
I've got a small Hyundai i10, a 1.2L. £30 a year tax, cheap insurance and got me and Mrs DH out of a very frightening snow/ice situation a few nights ago where we actually thought we would have to spend the night abandoning the car. We just about got it moving after wobbling and skidding around in blizzard conditions in about 6 inches of snow enough to turn the car round and go back in another direction. lots of other, bigger cars on the road were abandoning and calling for help. Couldn't possibly consider a new one now as I fell it possibly saved our lives!
 
This is important @shabbagaz
I can’t see your GMFV
Guaranteed minimum future value
This is the minimum they will offer you in three years
Then see what good condition three year old cars the same or as near as this one sell for
This is how you can end up with a little for a deposit
eg
GMFV = £5k
Three year old variant = £5700 trade in
So you would when you go back look for them to offer you £5700 on the car remembering it isn’t yours though
Make sense ?
Isn't that the balloon payment? (optional final payment)
 
This is important @shabbagaz
I can’t see your GMFV
Guaranteed minimum future value
This is the minimum they will offer you in three years
Then see what good condition three year old cars the same or as near as this one sell for
This is how you can end up with a little for a deposit
eg
GMFV = £5k
Three year old variant = £5700 trade in
So you would when you go back look for them to offer you £5700 on the car remembering it isn’t yours though
Make sense ?
Not keen on the 6k annual mileage cap either.
 
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