The PCP deals and Q&A thread

The PCP deals and Q&A thread

Author
Discussion

karl922

537 posts

187 months

Tuesday 7th June 2016
quotequote all
Here's a deal I've been offered, I turned it down as its not going to light my fire.

BMW 335d x-drive MSport.
2k deposit
10k per annum over 48 months
£450 per month
All including VAT.

I'm still thinking of going for an Audi A8 on PCP but the figures aren't great, probably due to residual.

neelyp

1,693 posts

217 months

Tuesday 7th June 2016
quotequote all
I'm mulling over a BMW 440i PCP.
8K miles per annum, £500 deposit and £485/month.
Seems quite reasonable to me.

karl922

537 posts

187 months

Tuesday 7th June 2016
quotequote all
What's the term, model on this deal mate? I originally fancied the four.

neelyp

1,693 posts

217 months

Tuesday 7th June 2016
quotequote all
48 months, msport coupe.

adaM3

560 posts

224 months

Wednesday 8th June 2016
quotequote all
karl922 said:
Here's a deal I've been offered, I turned it down as its not going to light my fire.

BMW 335d x-drive MSport.
2k deposit
10k per annum over 48 months
£450 per month
All including VAT.

I'm still thinking of going for an Audi A8 on PCP but the figures aren't great, probably due to residual.
Have you considered an A7? I'm just about to sign up for one.

jrinns

374 posts

189 months

Saturday 11th June 2016
quotequote all
karl922 said:
Here's a deal I've been offered, I turned it down as its not going to light my fire.

BMW 335d x-drive MSport.
2k deposit
10k per annum over 48 months
£450 per month
All including VAT.

I'm still thinking of going for an Audi A8 on PCP but the figures aren't great, probably due to residual.
What was the invoice price , did it have full discount available this quarter?

blueg33

38,314 posts

230 months

Sunday 12th June 2016
quotequote all
Why is PCP more expensive than lease. Looking at the Octavia Scout through VW Finance, car supplied by the dame dealer over 36 months with 10k miles pa.

PCP
Deposit £4500 (including Skoda contribution of £2k). Monthly £320, Balloon £11,000

Lease
Deposit and fees £2600. Monthly £229

Seems like a lot to pay for the benefit of being able to buy the car. Cant get a steer on what the value will be in 3 years as its a new model, but maybe the balloon is under pricing the car?

Jonno02

2,249 posts

115 months

Sunday 12th June 2016
quotequote all
blueg33 said:
Why is PCP more expensive than lease. Looking at the Octavia Scout through VW Finance, car supplied by the dame dealer over 36 months with 10k miles pa.

PCP
Deposit £4500 (including Skoda contribution of £2k). Monthly £320, Balloon £11,000

Lease
Deposit and fees £2600. Monthly £229

Seems like a lot to pay for the benefit of being able to buy the car. Cant get a steer on what the value will be in 3 years as its a new model, but maybe the balloon is under pricing the car?
Lease companies will buy 150 of the same car, hence a huge discount. Go through a broker (Drivethedeal/carfile/autoebid) for a really good discount on PCP depending on manufacturer. Balloon payments ALWAYS under value the car, this is so after your 2-4 year term, you think "oh I'm 2 grand in equity...I'll use that as a deposit for my next car" and so the cycle continues.

PCP is also more expensive because you can chop the car in whenever you want. You can't with a lease. Also, you can back out of PCP at any time you want (e.g. you lose your job), with a lease, you're tied in and cannot leave the contract.

blueg33

38,314 posts

230 months

Sunday 12th June 2016
quotequote all
Jonno02 said:
blueg33 said:
Why is PCP more expensive than lease. Looking at the Octavia Scout through VW Finance, car supplied by the dame dealer over 36 months with 10k miles pa.

PCP
Deposit £4500 (including Skoda contribution of £2k). Monthly £320, Balloon £11,000

Lease
Deposit and fees £2600. Monthly £229

Seems like a lot to pay for the benefit of being able to buy the car. Cant get a steer on what the value will be in 3 years as its a new model, but maybe the balloon is under pricing the car?
Lease companies will buy 150 of the same car, hence a huge discount. Go through a broker (Drivethedeal/carfile/autoebid) for a really good discount on PCP depending on manufacturer. Balloon payments ALWAYS under value the car, this is so after your 2-4 year term, you think "oh I'm 2 grand in equity...I'll use that as a deposit for my next car" and so the cycle continues.

PCP is also more expensive because you can chop the car in whenever you want. You can't with a lease. Also, you can back out of PCP at any time you want (e.g. you lose your job), with a lease, you're tied in and cannot leave the contract.
Thanks. Drive the deal were more expensive than Skoda!

daemon

36,682 posts

203 months

Sunday 12th June 2016
quotequote all
Jonno02 said:
blueg33 said:
Why is PCP more expensive than lease. Looking at the Octavia Scout through VW Finance, car supplied by the dame dealer over 36 months with 10k miles pa.

PCP
Deposit £4500 (including Skoda contribution of £2k). Monthly £320, Balloon £11,000

Lease
Deposit and fees £2600. Monthly £229

Seems like a lot to pay for the benefit of being able to buy the car. Cant get a steer on what the value will be in 3 years as its a new model, but maybe the balloon is under pricing the car?
Lease companies will buy 150 of the same car, hence a huge discount. Go through a broker (Drivethedeal/carfile/autoebid) for a really good discount on PCP depending on manufacturer. Balloon payments ALWAYS under value the car, this is so after your 2-4 year term, you think "oh I'm 2 grand in equity...I'll use that as a deposit for my next car" and so the cycle continues.

PCP is also more expensive because you can chop the car in whenever you want. You can't with a lease. Also, you can back out of PCP at any time you want (e.g. you lose your job), with a lease, you're tied in and cannot leave the contract.
Plus leasing companies in a unit in some industrial estate can work on much slimmer margins that the cut a dealer needs

Jonno02

2,249 posts

115 months

Sunday 12th June 2016
quotequote all
blueg33 said:
Thanks. Drive the deal were more expensive than Skoda!
Yeah you'll find that with certain models/manufacturers. Just go to one of the others if one comes back high. I'm buying 2 new cars for me and my partner soon and DTD is mega cheap for one of them and mega expensive for the other, luckily autoebid is far cheaper for the other one.

jrinns

374 posts

189 months

Sunday 12th June 2016
quotequote all
Don't think any of you mentioned that lease companies ie vwfs can reclaim the VAT on the asset I believe , this is why they can't sell it to the leasee but the family of the leasee can purchase it . So a bigger saving over pcp

Edited by jrinns on Sunday 12th June 13:43

talksthetorque

10,820 posts

141 months

Saturday 18th June 2016
quotequote all
Fiat seem to be trying to attract the hard of saving with this little promotion


Panda for four years for 0 deposit, 3months 0 payments then 45x 131


blueg33

38,314 posts

230 months

Saturday 18th June 2016
quotequote all
Jonno02 said:
blueg33 said:
Thanks. Drive the deal were more expensive than Skoda!
Yeah you'll find that with certain models/manufacturers. Just go to one of the others if one comes back high. I'm buying 2 new cars for me and my partner soon and DTD is mega cheap for one of them and mega expensive for the other, luckily autoebid is far cheaper for the other one.
Broker4cars have come up with a great deal. Even though the interest is double that from the dealer, the payments are £10 per month less.

Star666

31 posts

100 months

Wednesday 22nd June 2016
quotequote all
Hello,

I have been offered -

Term: 1 + 12 | 8,000 per annum

Initial rental of £750.00 inc VAT followed by 12 payments of £138.99 inc VAT with an optional purchase price of £13782.75 inc VAT

Or

Term: 1 + 12 | 8,000 per annum

Initial rental of £189.99 inc VAT followed by 12 payments of £189.99 inc VAT with an optional purchase price of £13782.75 inc VAT

What do you think People?

Black Colour Standard - Polo GTI 16 REG

VerySideways

10,243 posts

278 months

Wednesday 22nd June 2016
quotequote all
Star666 said:
Hello,

I have been offered -

Term: 1 + 12 | 8,000 per annum

Initial rental of £750.00 inc VAT followed by 12 payments of £138.99 inc VAT with an optional purchase price of £13782.75 inc VAT

Or

Term: 1 + 12 | 8,000 per annum

Initial rental of £189.99 inc VAT followed by 12 payments of £189.99 inc VAT with an optional purchase price of £13782.75 inc VAT

What do you think People?

Black Colour Standard - Polo GTI 16 REG
From where? Do you have a link you can share with us?

Star666

31 posts

100 months

Wednesday 22nd June 2016
quotequote all
VerySideways said:
From where? Do you have a link you can share with us?
https://bluepoppy.co.uk/2016/06/22/vw-polo-gti-only-189-99-inc-vat-per-month/

funinhounslow

1,795 posts

148 months

Wednesday 22nd June 2016
quotequote all
talksthetorque said:
Fiat seem to be trying to attract the hard of saving with this little promotion

Panda for four years for 0 deposit, 3months 0 payments then 45x 131

But they're also "loaning" you the best part of £7,000 over four years at 7.3%yikes

Surely you're far far better off with a bank loan and a bit of a haggle?


blueg33

38,314 posts

230 months

Tuesday 28th June 2016
quotequote all
Order placed yesterday for Skoda Octavia Scout 184 DSG with a few extras on a PCP deal through Broker4cars:

List £31250

Quote B
Total Discounted OTR Price of £23576.25
Deposit £3600.00
42 x £296.78
Guaranteed Future Value (GFV) £10396.50
APR 5.4%


New car factory order,

Best price from Skoda £28,600, £2k deposit contribution, so net £26,600. Deposit from me £3700 price per month £319.

Think I got a decent deal




Stu-nph26

2,062 posts

111 months

Tuesday 28th June 2016
quotequote all
Has anyone managed to get a deal on an RS turbo or 5.0 Mustang?