Dare I ask about finance on PH........ :P
Discussion
(Will remove my waffle about the VX220 waffle as thats for another topic hence the edit)
Basically looking for opinions on HP vs PCP.
Am looking at a Mini Cooper S.
Option 1:
Get a 59 plate R56 Cooper S with only 22k miles, good spec, 3 years BMW servicing and warrantly. On a PCP deal for £167/month for 4 years.
or
Option 2:
Get a older (03-04) R53 from a private dealer/private sale, with higher miles etc at around similar money per month but on a HP/personal loan.
Obviously both have pro's and con's but would be interested to hear opinions....
Basically looking for opinions on HP vs PCP.
Am looking at a Mini Cooper S.
Option 1:
Get a 59 plate R56 Cooper S with only 22k miles, good spec, 3 years BMW servicing and warrantly. On a PCP deal for £167/month for 4 years.
or
Option 2:
Get a older (03-04) R53 from a private dealer/private sale, with higher miles etc at around similar money per month but on a HP/personal loan.
Obviously both have pro's and con's but would be interested to hear opinions....
Edited by em177 on Monday 18th June 17:31
em177 said:
The original plan was to get the VX220 ... But then handling wasn't as good as I'd imagined either.... spinning the inside wheel in the dry made me wounder if the exclusion of an LSD was a wise one.
em177 said:
Now BMW were kind enough to let me test drive a brand new R56 version. And on a 59 plate with low miles and some nice extras (Nav, leather etc) it will be around £146/ month on a PCP deal. The car is up at £11k. And it comes with a 3 year BMW warranty and service pack.
I have also driven an R53 and to be honest the engine is more fun. But apart from that I was really surprised at how good both cars were.
Not sure a Mini would be my next choice after a VX ... The handling can't be better? Save up and get a VX220 Turbo with a Stage 2 Thorney kit ... There are lots around second hand with this upgrade option ... 250BHP and uber-quick! I have also driven an R53 and to be honest the engine is more fun. But apart from that I was really surprised at how good both cars were.
Ikemi said:
em177 said:
The original plan was to get the VX220 ... But then handling wasn't as good as I'd imagined either.... spinning the inside wheel in the dry made me wounder if the exclusion of an LSD was a wise one.
quote]
I was confused by this as well, admitedly I am somewhat of an, erm, enthusiastic driver.... but when pressing on I deffinately think an LSD would make it a 10 times better car. But thats just my 2 cents FWIW! :P
em177 said:
Gruber said:
That PCP looks remarkably cheap! How big a deposit are you sticking in? And over what period?
I tell a lie it was £167 now I check my emails. Was with a £1500 deposit over 4 years. PH has no problem with people acquiring cars on finance by the way. PH has a problem with people who cannot afford to pay for the finance or people who get a 12 plate diesel Corsa on finance when they could've afforded a 56 plate diesel Corsa with cash, because at the end of the day, its still a diesel Corsa.
martin84 said:
PH has no problem with people acquiring cars on finance by the way. PH has a problem with people who cannot afford to pay for the finance or people who get a 12 plate diesel Corsa on finance when they could've afforded a 56 plate diesel Corsa with cash, because at the end of the day, its still a diesel Corsa.
Absolutely. if you're going to put yourself in hock, at least do it for something enjoyable. As an ex BM at dealerships:
Option1
Car really is too old for a PCP. Watch for mileage restrictions and what you need to consider is the age of a car at the end of any agreement, not the begining. You will almost certainly have negative equity at the end and mileage and condition may well fall outside any guarenteed value.
Option2
HP is only available on a trade sale, never on a private sale. HP and personal loan are very different products with almost zero rights on the latter. If via a dealer watch that a proposal for HP doesn't suddenly transform into an accepted personal loan. Also consider very carefully length of agreement and age on completion.
Option1
Car really is too old for a PCP. Watch for mileage restrictions and what you need to consider is the age of a car at the end of any agreement, not the begining. You will almost certainly have negative equity at the end and mileage and condition may well fall outside any guarenteed value.
Option2
HP is only available on a trade sale, never on a private sale. HP and personal loan are very different products with almost zero rights on the latter. If via a dealer watch that a proposal for HP doesn't suddenly transform into an accepted personal loan. Also consider very carefully length of agreement and age on completion.
stuwalsh said:
As an ex BM at dealerships:
Option1
Car really is too old for a PCP. Watch for mileage restrictions and what you need to consider is the age of a car at the end of any agreement, not the begining. You will almost certainly have negative equity at the end and mileage and condition may well fall outside any guarenteed value.
Option2
HP is only available on a trade sale, never on a private sale. HP and personal loan are very different products with almost zero rights on the latter. If via a dealer watch that a proposal for HP doesn't suddenly transform into an accepted personal loan. Also consider very carefully length of agreement and age on completion.
I would be stunned if the OP ended up in neg eq with the 59 plater with the way mini set their GFV.Option1
Car really is too old for a PCP. Watch for mileage restrictions and what you need to consider is the age of a car at the end of any agreement, not the begining. You will almost certainly have negative equity at the end and mileage and condition may well fall outside any guarenteed value.
Option2
HP is only available on a trade sale, never on a private sale. HP and personal loan are very different products with almost zero rights on the latter. If via a dealer watch that a proposal for HP doesn't suddenly transform into an accepted personal loan. Also consider very carefully length of agreement and age on completion.
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