Car finance - High Milage
Discussion
Hello,
I was hoping to get a little advice on HP/PCP/Loans as way of financing a car. I've had a torrid time with reliabilty on my last 2 cars, and so I'd like to get into something a newer and lower milage than before.
I've always paid cash (via a car loan before) as Iike the idea of owning the car at the end, but this limits the total value of the car I can afford, leaving me exposed to large recovery & repair bills. On the plus side, there are no milage limits or buy back concern, mileage limits and the freedom to buy any car.
The issue I struggle with is that I do 20k miles/yr. So after an average 4 year contract, any car I have has lost a lot of value mostly likely being north of 100k total mileage. This may mean that "owning" a car outright at the end of a contract is not really feasible as it will always be potentially troublesome by that point, but I do like the idea of not having monthly car payments and I'm not one to chase the lastest thing for teh saek of i t.
Any thoughts and advice on the best route forward would be greatly appreciated.
Basic facts, in case of help:
Monthly £300
Deposit £4,000
20k miles/yr
100 mile return commute - so some comfort and power needed!
C or D segment size
Motorway and country driving
I was hoping to get a little advice on HP/PCP/Loans as way of financing a car. I've had a torrid time with reliabilty on my last 2 cars, and so I'd like to get into something a newer and lower milage than before.
I've always paid cash (via a car loan before) as Iike the idea of owning the car at the end, but this limits the total value of the car I can afford, leaving me exposed to large recovery & repair bills. On the plus side, there are no milage limits or buy back concern, mileage limits and the freedom to buy any car.
The issue I struggle with is that I do 20k miles/yr. So after an average 4 year contract, any car I have has lost a lot of value mostly likely being north of 100k total mileage. This may mean that "owning" a car outright at the end of a contract is not really feasible as it will always be potentially troublesome by that point, but I do like the idea of not having monthly car payments and I'm not one to chase the lastest thing for teh saek of i t.
Any thoughts and advice on the best route forward would be greatly appreciated.
Basic facts, in case of help:
Monthly £300
Deposit £4,000
20k miles/yr
100 mile return commute - so some comfort and power needed!
C or D segment size
Motorway and country driving
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