Discussion
I've just picked up my new/old car, an R Line passat (66, 27k and FSH etc).
I bought this off Autotrader, and after being on PCP's for the last 10 years a next private sale was always going to feel daunting but this one was an ex rep mobile being sold by the company (Plumbing company), it had it's fsh, servicing on track and i'm sure new tyres were put on recently as they are about 7mm.
I'm mega pleased to be now free of PCP and know this is my asset at the end of the loan agreement and good to know i can shift to a new motor in the future far easier than a PCP.
Overall the deal was good (It had LOT of toys on it, sevice due in 10k, warranty for two years) and on high mileage I'll probably only do 10-12 in the next years 2-3. It's still on AT here https://www.autotrader.co.uk/classified/advert/201...
They'll be downsides, this car will depreciate but i'm kind of feeling good about not having to get in a PCP again to have a nice motor and dealing with dealerships who talk s
t for a living!
Just have a look around, it can be done if you are unsure about your next financial model for a car!
I bought this off Autotrader, and after being on PCP's for the last 10 years a next private sale was always going to feel daunting but this one was an ex rep mobile being sold by the company (Plumbing company), it had it's fsh, servicing on track and i'm sure new tyres were put on recently as they are about 7mm.
I'm mega pleased to be now free of PCP and know this is my asset at the end of the loan agreement and good to know i can shift to a new motor in the future far easier than a PCP.
Overall the deal was good (It had LOT of toys on it, sevice due in 10k, warranty for two years) and on high mileage I'll probably only do 10-12 in the next years 2-3. It's still on AT here https://www.autotrader.co.uk/classified/advert/201...
They'll be downsides, this car will depreciate but i'm kind of feeling good about not having to get in a PCP again to have a nice motor and dealing with dealerships who talk s
t for a living!Just have a look around, it can be done if you are unsure about your next financial model for a car!
md4776 said:
You seem chuffed so good on you. Passat looks good hope it givea many miles of good service. Different things make sense at different times, im coming off leasing early next year. Its worked for me nicely for years but im going to go the other way and go cheap and cheerful, run til it falls apart.
I must admit went off VW but this doesn't actually feel like one lol New one was less per month than PCP, and of course i'll have a lump of money once the loans done. This will be less running cost than previous car as well (A4).
Getting a run around did cross my mind based on the state of the market.
VAGLover said:
Congrats, but you imply those on PCP have no equity or cash to buy the car at the end.
All my cars, buy on PCP, get best deal. Buy after 6/12 months from Finance house then own. Then decide what to do with. So PCP’ers can have equity
Becoming rare now to me. All my cars, buy on PCP, get best deal. Buy after 6/12 months from Finance house then own. Then decide what to do with. So PCP’ers can have equity
I made 1600 on a TT 57 plate and every car since then ive never been able to be in a good position.
Be interesting to see the state of the market in the next 6-12 months.
This post isnt really about the finance side, its about Buying a used car that feels just as good as new but without the trials and tribulations of a contract to negogiate. After the last car i think id be in the cockoo nest if i went PCP!
Rather than upgrade motors, I'm currently over-paying a loan (regular payment plus 75% extra per month), so that within 20 months I will own my two vehicles outright. I then intend to save for their replacements.
I've been doing this for the last 6 months, having totted-up how much I've spent on various cars in the last 16 years. I realised that, if I'd held on to fewer cars for a longer time, I'd be in a far better position.
E.g. I bought a very nicely spec'd 2006 Audi A3 2.0T quattro in 2009, which I got within £5k of owning outright when I sold it in 2011. I could have kept that until the present day, as arguably the cars that followed were't that much better - and have saved tens of thousands of pounds.
There are loads of posts and threads about the pros and cons of car finance, but I agree with the OP about the feel-good factor of paying to own outright, rather than renting. In my experience, it gives a fair bit more flexibility even if you don't reach the point of paying back in full.
What I've never done so far is to own vehicles of any substantial value outright, nor pay for any of more than trivial value with cash. I'm looking forward to doing both in the future.
I've been doing this for the last 6 months, having totted-up how much I've spent on various cars in the last 16 years. I realised that, if I'd held on to fewer cars for a longer time, I'd be in a far better position.
E.g. I bought a very nicely spec'd 2006 Audi A3 2.0T quattro in 2009, which I got within £5k of owning outright when I sold it in 2011. I could have kept that until the present day, as arguably the cars that followed were't that much better - and have saved tens of thousands of pounds.
There are loads of posts and threads about the pros and cons of car finance, but I agree with the OP about the feel-good factor of paying to own outright, rather than renting. In my experience, it gives a fair bit more flexibility even if you don't reach the point of paying back in full.
What I've never done so far is to own vehicles of any substantial value outright, nor pay for any of more than trivial value with cash. I'm looking forward to doing both in the future.
Edited by Basil Hume on Monday 9th October 11:48
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