PCP deal calculation help
Discussion
Plot thickens - my deposit is still not refunded but had a voicemail from Sales Manager asking me to call him back. Kept calling me "mate" now too 
In conference most of today and tomorrow so can't really take calls so have requested him to email me if possible with further details.
So let's just say the invoice price is lowered to around £31,000 with same terms would it be a good deal?
In conference most of today and tomorrow so can't really take calls so have requested him to email me if possible with further details.
So let's just say the invoice price is lowered to around £31,000 with same terms would it be a good deal?
daemon said:
Grandfondo said:
Jetski has given his pesonal experience with PCP but of course he is wrong and the fact his father tried to warn him off PCP who is in the trade means nothing! 
No, hes not wrong. It was a bad idea to put in a large deposit and be faced with a large residual payment on a car that it sounds like he really wanted to own but couldnt gather up the residual.It was a bad deal for him.
Doesnt make all PCP deals bad deals - just like the M235i PCP deal you were really interested in last month for example was a really good deal
I was interested in the discount obtained on the 235i deal not the car to be honest as that type of car does not interest me!
Please don't go off on one of your foul mouthed tirades like on the other thread about dealer profits as this thread ha already gone off topic!
Grandfondo said:
All PCP deals are good fir the dealer and most people don't have the funds to pay the balloon and own the car and this is also good for the dealer,this is the point of PCPs!
Most people who use PCP deals correctly have no inclination to pay the balloon. If up front you want to own the car long term, then a PCP deal is generally not the way to do it.Therein lies the problem with what Jetski did - he went in to it with a view of raising the cash to pay the massive residual, but it didnt work out.
Had he bought a car with say £3K down, £250 a month, £8K residual then he'd have had ample capital to pay the residual and chances are would have a totally different experience of PCP deals - though personally if I wanted to own it i'd be looking at a straight HP deal.
Interestingly he has a lease deal now and it is working well for him - with a format not unlike how most people use PCP.
Grandfondo said:
I was interested in the discount obtained on the 235i deal not the car to be honest as that type of car does not interest me!
Yeah yeah. It was a discussion around PCP deals and around monthly payments. You specifically asked for "the figures". In fact you were that "not interested" you asked for the figures twice!!Seems you're trying to back track.
And of course you have had PCP deals before, that you're already told us about?
I guess those particular deals suited you at that time, just like they do for many others?
Edited by daemon on Monday 15th December 20:02
crazy about cars said:
Plot thickens - my deposit is still not refunded but had a voicemail from Sales Manager asking me to call him back. Kept calling me "mate" now too
In conference most of today and tomorrow so can't really take calls so have requested him to email me if possible with further details.
So let's just say the invoice price is lowered to around £31,000 with same terms would it be a good deal?
You're still in the realms of large deposit, large residual which means you're going to have taken a large bath by the end of the term, for what is really a glorified hot hatch.In conference most of today and tomorrow so can't really take calls so have requested him to email me if possible with further details.
So let's just say the invoice price is lowered to around £31,000 with same terms would it be a good deal?
daemon said:
You're still in the realms of large deposit, large residual which means you're going to have taken a large bath by the end of the term, for what is really a glorified hot hatch.
True dat. I just don't understand why if this is sold to me as a new car I don't seem to be receiving the same deals.So what would you be paying for same car? What deposit, what monthly, what APR and what GFV?
crazy about cars said:
daemon said:
You're still in the realms of large deposit, large residual which means you're going to have taken a large bath by the end of the term, for what is really a glorified hot hatch.
True dat. I just don't understand why if this is sold to me as a new car I don't seem to be receiving the same deals.So what would you be paying for same car? What deposit, what monthly, what APR and what GFV?
Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
Grandfondo said:
The GFV is set by Audi finance so that won't change really even with discount the deposit is up to you but will affect the monthly payments!
Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
Thanks! Due to my choice of cars I've never really considered them an appreciating asset Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
However with the competitive loan rates I do see why it's not really worth going for PCP deals in certain cases.
£5k down, £280/month 38 months PCP with £15,000 GFV sound like good deal?
crazy about cars said:
Grandfondo said:
The GFV is set by Audi finance so that won't change really even with discount the deposit is up to you but will affect the monthly payments!
Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
Thanks! Due to my choice of cars I've never really considered them an appreciating asset Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
However with the competitive loan rates I do see why it's not really worth going for PCP deals in certain cases.
£5k down, £280/month 38 months PCP with £15,000 GFV sound like good deal?
crazy about cars said:
True dat. I just don't understand why if this is sold to me as a new car I don't seem to be receiving the same deals.
So what would you be paying for same car? What deposit, what monthly, what APR and what GFV?
No idea against an Audi.So what would you be paying for same car? What deposit, what monthly, what APR and what GFV?
Wife paid something like £3,000 down, £319 a month for her z4 and it had a £36,000 list price. I think its a 4 year deal with a £12K ish residual.
Grandfondo said:
You are starting to get it now daemon!
PCP gets some people into cars they can't afford to own!
That is the point of this type of finance!
I dont understand your obsession with PCP and with that statement. Its meaningless :-PCP gets some people into cars they can't afford to own!
That is the point of this type of finance!
Edited by Grandfondo on Monday 15th December 20:09
"Finance gets some people into cars they cant afford to own!"
"Lease gets some people into cars they cant afford to own!"
"Cash gets some people into cars they cant afford to own!"
"Buying used gets some people into cars they cant afford to own new!"
As everyone has repeatedly told you - its about working out whats right for you at the time and making sure it is right for you.
crazy about cars said:
Grandfondo said:
The GFV is set by Audi finance so that won't change really even with discount the deposit is up to you but will affect the monthly payments!
Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
Thanks! Due to my choice of cars I've never really considered them an appreciating asset Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
However with the competitive loan rates I do see why it's not really worth going for PCP deals in certain cases.
£5k down, £280/month 38 months PCP with £15,000 GFV sound like good deal?
PCP works if you want to pay a set amount per month for a fixed term and then extract whatever equity there is and walk away from it.
Grandfondo said:
crazy about cars said:
Grandfondo said:
The GFV is set by Audi finance so that won't change really even with discount the deposit is up to you but will affect the monthly payments!
Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
Thanks! Due to my choice of cars I've never really considered them an appreciating asset Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
However with the competitive loan rates I do see why it's not really worth going for PCP deals in certain cases.
£5k down, £280/month 38 months PCP with £15,000 GFV sound like good deal?
BMW z4 sDrive28i - list price £37,390
Customer deposit £5799 - probably £5K customer cash, and an extra £799 discount from dealer.
BMW UK deposit contribution £6,500
Dealer deposit contribution £1,389
Repayments £322, residual £14,429.
http://www.bmw.co.uk/en_GB/topics/owners/offers/z4...
crazy about cars said:
Grandfondo said:
The GFV is set by Audi finance so that won't change really even with discount the deposit is up to you but will affect the monthly payments!
Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
Thanks! Due to my choice of cars I've never really considered them an appreciating asset Get a cheap loan and at least you will know where you stand and at the end of the term at least you will have an asset if you can ever call a car that!
However with the competitive loan rates I do see why it's not really worth going for PCP deals in certain cases.
£5k down, £280/month 38 months PCP with £15,000 GFV sound like good deal?
Have you made the £5K/£280PM/38M/£15K GFV figures up? or has it been indicated to you by the dealer that they're realistic/achievable?
At ~£31,000, on the same terms as before, I'd would guess at ~£380 PM (averaged incl. £5k deposit =~£513 PM, of which ~£133 PM is interest).
Whilst it may not be 100% accurate - if you tweak the spreadsheet for the slightly longer terms (37/38 vs 36) you can play with the figures.
daemon said:
You're wrong - it does happen. Heres one thats v close to that and the first i looked at.
BMW z4 sDrive28i - list price £37,390
Customer deposit £5799 - probably £5K customer cash, and an extra £799 discount from dealer.
BMW UK deposit contribution £6,500
Dealer deposit contribution £1,389
Repayments £322, residual £14,429.
http://www.bmw.co.uk/en_GB/topics/owners/offers/z4...
Obviously if Audi put £8k towards the S3 then that changes things considerably! BMW z4 sDrive28i - list price £37,390
Customer deposit £5799 - probably £5K customer cash, and an extra £799 discount from dealer.
BMW UK deposit contribution £6,500
Dealer deposit contribution £1,389
Repayments £322, residual £14,429.
http://www.bmw.co.uk/en_GB/topics/owners/offers/z4...
daemon said:
I dont understand your obsession with PCP and with that statement. Its meaningless :-
"Finance gets some people into cars they cant afford to own!"
"Lease gets some people into cars they cant afford to own!"
"Cash gets some people into cars they cant afford to own!"
"Buying used gets some people into cars they cant afford to own new!"
As everyone has repeatedly told you - its about working out whats right for you at the time and making sure it is right for you.
1) True"Finance gets some people into cars they cant afford to own!"
"Lease gets some people into cars they cant afford to own!"
"Cash gets some people into cars they cant afford to own!"
"Buying used gets some people into cars they cant afford to own new!"
As everyone has repeatedly told you - its about working out whats right for you at the time and making sure it is right for you.
2) true
3) False
4) True
I am not disagreeing with you!
daemon said:
I dont understand your obsession with PCP and with that statement. Its meaningless :-
"Finance gets some people into cars they cant afford to own!"
"Lease gets some people into cars they cant afford to own!"
"Cash gets some people into cars they cant afford to own!"
"Buying used gets some people into cars they cant afford to own new!"
As everyone has repeatedly told you - its about working out whats right for you at the time and making sure it is right for you.
1) True"Finance gets some people into cars they cant afford to own!"
"Lease gets some people into cars they cant afford to own!"
"Cash gets some people into cars they cant afford to own!"
"Buying used gets some people into cars they cant afford to own new!"
As everyone has repeatedly told you - its about working out whats right for you at the time and making sure it is right for you.
2) true
3) False
4) True
I am not disagreeing with you!
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