New / nearly new buying advice
Discussion
Hi all, I would appreciate some advice for a relative of mine who is looking at a new or nearly new small car.
They have a 13 year-old (almost worthless) car to trade in (mentioned in case relevant for 'scrappage' scheme deals) and looking at something like Kia Rio or Suzuki Swift etc. The ask is for a 5-door hatchback that is compact as it'll be parked in a city centre.
Said relative wants to avoid PCP as they are relatively sure over the course of the next years there will be contact with various inanimate objects (there are a few low walls with some battle scars) and they are concerned about a large repair bill being presented when it comes to the end of the initial period. Budget is c. £200/month plus a deposit of say £2k. For hp / a loan I'd guess this translates to a purchase price of around £12k ish, if paying off over 5 years.
So my questions, if anyone is able to assist please;
- are any of the scrappage deals actually worth looking at, or would they all be aimed towards a PCP financing?
- is the concern about PCP valid, or should the approach simply be that the balloon payment would just be refinanced at that time?
- my relative is an NHS worker; any experience / comments on any of the deals available for new cars (I think Peugeot has one)?
- in addition to the Kia and Suzuki, we considered VW Polo (leading contender), Vauxhall Corsa, Nissan Micra, Honda Jazz, Seat Ibiza and Skoda Fabia. Fords have been vetoed. Anything jumping out that I've missed, or any other points to be considered in addition to everything above?
Many thanks in advance,
~S
They have a 13 year-old (almost worthless) car to trade in (mentioned in case relevant for 'scrappage' scheme deals) and looking at something like Kia Rio or Suzuki Swift etc. The ask is for a 5-door hatchback that is compact as it'll be parked in a city centre.
Said relative wants to avoid PCP as they are relatively sure over the course of the next years there will be contact with various inanimate objects (there are a few low walls with some battle scars) and they are concerned about a large repair bill being presented when it comes to the end of the initial period. Budget is c. £200/month plus a deposit of say £2k. For hp / a loan I'd guess this translates to a purchase price of around £12k ish, if paying off over 5 years.
So my questions, if anyone is able to assist please;
- are any of the scrappage deals actually worth looking at, or would they all be aimed towards a PCP financing?
- is the concern about PCP valid, or should the approach simply be that the balloon payment would just be refinanced at that time?
- my relative is an NHS worker; any experience / comments on any of the deals available for new cars (I think Peugeot has one)?
- in addition to the Kia and Suzuki, we considered VW Polo (leading contender), Vauxhall Corsa, Nissan Micra, Honda Jazz, Seat Ibiza and Skoda Fabia. Fords have been vetoed. Anything jumping out that I've missed, or any other points to be considered in addition to everything above?
Many thanks in advance,
~S
Edited by Schiehallion on Monday 27th July 20:46
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