New car - PCP deal - any good?

[craigr11]

I know this has been covered a bit on the forum before, but considering a PCP deal for a Mazda CX5 - wondering what peoples experience of a PCP has been , particularly when at the end of the agreement and have been given a trade in valuation from the dealer? Has it normally been above the balloon/gfv or has their been a nasty surprise?

this is the deal:

42 Monthly Payments of £279.00
On The Road Price £23,995.00
Customer Deposit £5,356.50
Amount of Credit £18,638.50
Interest Charges £2,960.75
Optional Final Payment £9,881.25
Total Amount Payable £26,955.75
Fixed Rate of Interest 3.04% p.a.
Duration of Agreement 43 months
Annual Mileage 9,000
Excess Mileage Charge per mile 14.9p
APR 5.9%~

Having used the what depreciation calculator and research into Mazda - I'm lead to believe they hold their value well and that the CX5 is a sought after car with fuel economy road tax/decent spec etc - so i should in theory have a bit of equity after 3 years and 30k (ish) miles

Be good to hear people's own experiences
Cheers

[CYMR0]

£17k over 3.5 years and 31,500 miles, less any equity (maybe £2k once you go to trade)... £15k.

With 9 months down, that would give you a monthly payment of £245 + VAT.

See what you can get for that kind of cash on a lease and assuming that everything checks out with leasing for you, I doubt that would be a good deal.

This is for 3 rather than 3.5 years but is noticeably cheaper.

http://www.bluechillicars.com/business-contract-hi...

Of course if you can get a couple of grand off then the PCP looks more appealing.

[craigr11]

Can get the dealer dow a few k. Just wondering if more could be achieved when final payment comes around. Heard of so.many people being offered much less than the balloon. Makes leasing a much more attractive option.