PCP, are some people really clueless?

[neil1jnr]

I came across this page:

http://www.carfinance247.co.uk/q-and-a/1249/can-i-...

It is disturbing to read the number of questions asked on this page that should be known if you are taking out car finance. I had assumed that anybody taking finance out to buy a car would have made sure they understood how it works before entering an agreement.

[bobtail4x4]

and these people are allowed to vote?

[Charlie1986]

have a look at some of the facebook comments they shouldn't be allowed to breed let alone vote

[shakotan]

'Edwin' is giving erroneous information as well. It's not 50% through your agreement (ie 12 months through a 24 month agreement), its 50% of the total value of credit, which unless its at 0% interest is normally around 3/4 through the term depending on interest rate. I'm only just at the 50% mark now being 27 months into a 36 month PCP.

[TankRizzo]

oh my god

that site said:

Hi there, I have an Alfa Romeo GT blackline on a 57 plate and 65,000 miles on the clock. I have finance of £10k on it

by way of comparison

http://www.pistonheads.com/classifieds/used-cars/a...

Edited by TankRizzo on Friday 28th August 16:34

[KTF]

I wonder what the APR is on the deals that they can do as the questions seem to be from 'sub prime' individuals.

Edited by KTF on Friday 28th August 16:46

[austinsmirk]

Beat this !

Hi, I have a 04 grand prix with 92000 miles and I was wondering if I could possibly swap loans for another car. I bought the car about 6 months ago and paid 2,000 down and 340 a month since and still owe 2 years on it at the rate of 340 a month. Is there a way I could trade for another car and perhaps have a lower car payment and not pay 13,000 for a 2004 grand prix that is only worth around £6,500

[SirSquidalot]

fk me there is some pond life out there.

[shalmaneser]

Holy crap, terrifying!

[CorbynFTW]

TankRizzo said:

oh my god

that site said:

Hi there, I have an Alfa Romeo GT blackline on a 57 plate and 65,000 miles on the clock. I have finance of £10k on it

by way of comparison

http://www.pistonheads.com/classifieds/used-cars/a...

Edited by TankRizzo on Friday 28th August 16:34

That one stood out to me too. Some people are truly getting bummed, sooo un-researched on it.

I like the woman further up that page who said she has some type of Vauxhall on PCP etc, he asks her some Qs.



She then says 'I dont really know what PCP is'...

[TLandCruiser]

KTF said:

I wonder what the APR is on the deals that they can do as the questions seem to be from 'sub prime' individuals.

Edited by KTF on Friday 28th August 16:46

Says 25.8% on the website

[Monkeylegend]

TankRizzo said:

oh my god

that site said:

Hi there, I have an Alfa Romeo GT blackline on a 57 plate and 65,000 miles on the clock. I have finance of £10k on it

by way of comparison

http://www.pistonheads.com/classifieds/used-cars/a...

Edited by TankRizzo on Friday 28th August 16:34

That was 3 years ago though. Website OP linked to is dated August 2012.

[carl_w]

carfinance247 said:

Hi, I bought a Ford Fiesta on a 5 year finance deal. I am only just 6 months into the first year and paying £220 a month on it and I struggling to make the payments due to the birth of my son.

So this son has come entirely out of the blue and wasn't known about 6 months ago when the deal was done?

[petop]

They all sound like female airheads, wanting a "you know, i like it in a bright colour with nice alloy wheels" type car. They bought it "on some sort of HP (read PCP!) thing which is only 20p a week" and now they realise those nights in Newcastle are hitting them hard and cannot afford the pink Fiat 500. And the next to hit them is the "whats this service light thing? The car hasnt stopped yet so ill ignore it"!

[TankRizzo]

Monkeylegend said:

That was 3 years ago though. Website OP linked to is dated August 2012.

true, I didn't see that.

[smashy]

lets get into a real deep question ..after 50% of total paid you can walk away...even if you have gone over your mileage allowance ie you had 10k a year after 2 1/2 years of a 4 year contract you walk away with 40k on the clock,legally nothing they can do.True or false?

[KTF]

smashy said:

lets get into a real deep question ..after 50% of total paid you can walk away...even if you have gone over your mileage allowance ie you had 10k a year after 2 1/2 years of a 4 year contract you walk away with 40k on the clock,legally nothing they can do.True or false?

Ask that page the question and see what reply you get

[untakenname]

Just looking at some of those questions asked reaffirms what a travesty PCP is, it annoys me so much as it lets the dregs of society drive cars that are far beyond their means.

Before cheap credit and the low interest rates you'd get someone on minimum wage (or bad with money) driving around a knackered 15 years old shed whereas now the same person will be driving a brand new car and feeling smug about it.

[KTF]

You should watch this and see how long it takes your piss to boil:

http://www.bbc.co.uk/iplayer/episode/b0675njv/brit...

"I'm on benefits, but why shouldn't I have the finer things in life" (paid £2k for a £900 freezer on finance)

[Fittster]

untakenname said:

Just looking at some of those questions asked reaffirms what a travesty PCP is, it annoys me so much as it lets the dregs of society drive cars that are far beyond their means.

Why does it annoy you what other people drive?