Is PCP a good idea or should I invest my money better?
Discussion
HumanDoing said:
Nobody is judging. We are just stating that people are entitled to their own opinions (preferring PCP, HP, lease, or outright purchase) but NOT their own facts (PCP is cheaper). It is not.
2 simple words : IT DEPENDS.As patiently demonstrated for your benefit.
You need to start showing your workings.
Did you have a chance to think about Mark's question from the other PCP thread that you are contributing to please ?
Mark-C said:
Mark-C said:
Well I thought mine was a fair question but i’m not a fan of doxxing and can’t see it on this thread so if it’s happened to you and it’s not been dealt with by mods then that’s a bad reflection on PH. Of course you’re entitled to defend your wife.
So I now understand your anger but still don’t understand why you are so anti-PCP
Hi HD - just wondered if you have an answer to this? Was looking at comments on the Fiesta vs Civic article and see you’re back online. I really don’t care about the PCP thing that much but I am intrigued by people that get very angry about stuff online (and from what you say you seem to be on both sides of that) so was wondering why it is that PCP has you so riled ...So I now understand your anger but still don’t understand why you are so anti-PCP
Cheers,
Mark
Edited by nickfrog on Tuesday 24th October 22:58
HumanDoing said:
nickfrog said:
Edited by nickfrog on Tuesday 24th October 22:58
You can call me Nick btw.
Our old tit production manager came into the office today. Bored me when i had much better things to do, but out of politeness listened to him go on and on and on about how much money he had made from his investments. 17% apparently last year, i quite believe that in a decent ETF, cool talking about % and returns but when he got on to cash in bank it gets a bit distasteful.
I could not help laughing at him when he started to go on about how he has just paid cash for his new car... Err really, you would sacrifice 17% return on £30k when you could PCP that same car for less than 5%.
In what world does that make any sense at all?
I could not help laughing at him when he started to go on about how he has just paid cash for his new car... Err really, you would sacrifice 17% return on £30k when you could PCP that same car for less than 5%.
In what world does that make any sense at all?
HumanDoing said:
nickfrog said:
Edited by nickfrog on Tuesday 24th October 22:58
Also, you do know hes French dont you?
Do you call all French people Frogs?
Your problem is you seem very good at dishing it out - you've a really aggressive writing style, you have heavily criticised PCP deals - even though a load of people on here use them and would find that insulting, you have heavily criticised certain cars - Ford RS is the most recent one - and again a lot of people on here on them and would view what you're saying as an attack, YET as soon as anyone even questions your views then you whip out the bullying card? Its farcical really.
Then you concluded that clearly i wasnt doing very well in life because i drove a Passat, our A45 was s
te and i'd previously owned a "poor mans Porsche"? Are you really that shallow that you think what people drive is an indicator of wealth and status? Is that why you're so anti PCP because people can - in your eyes - elevate themselves beyond their status?You talk about people "soiling their nappies" yet you've the most childish approach on here frankly.
daemon said:
HumanDoing said:
nickfrog said:
Edited by nickfrog on Tuesday 24th October 22:58
Also, you do know hes French dont you?
Do you call all French people Frogs?
Your problem is you seem very good at dishing it out - you've a really aggressive writing style, you have heavily criticised PCP deals - even though a load of people on here use them and would find that insulting, you have heavily criticised certain cars - Ford RS is the most recent one - and again a lot of people on here on them and would view what you're saying as an attack, YET as soon as anyone even questions your views then you whip out the bullying card? Its farcical really.
Then you concluded that clearly i wasnt doing very well in life because i drove a Passat, our A45 was s
te and i'd previously owned a "poor mans Porsche"? Are you really that shallow that you think what people drive is an indicator of wealth and status? Is that why you're so anti PCP because people can - in your eyes - elevate themselves beyond their status?You talk about people "soiling their nappies" yet you've the most childish approach on here frankly.
I mean he could log off and walk away, but he can't.
I like to PCP my houses,
I paid a large deposit for the first one, then I make monthly payments along with some intrest and bring the balance down, then every 5 years or so I decide to change houses, so I hand this one to someone else and use the equity I’ve built up as a deposit for the next month, again with monthly payments and some intrest.
I could decide to carry these payments on for a much longer period of time then own the house outright.
Maybe that’s more like a hire purchase though.
I paid a large deposit for the first one, then I make monthly payments along with some intrest and bring the balance down, then every 5 years or so I decide to change houses, so I hand this one to someone else and use the equity I’ve built up as a deposit for the next month, again with monthly payments and some intrest.
I could decide to carry these payments on for a much longer period of time then own the house outright.
Maybe that’s more like a hire purchase though.
I am collecting a new car here in Portugal next week for my wife so going through all the sums.
I want to own the car outright and run it for at about 7 years. Cars here are extremely expensive and 'double-taxed' but the interest rates for loans are low.
Buying over 60 months then, PCP will cost me 5500 euros more than HP. The monthly is 300 euros less but the balloon would mean I am worse off than HP for outright purchase.
Paying cash would save me 3890 euros (interest rate is 3.2%) but I can best that just by leaving the money in a decent savings account.
So HP it is I think and keep the cash invested. In fact, works out better since the cash is part of a larger sum anyway.
Whenever I have felt that I've wasted money on a car, it has been due to a PCP deal. I'm not against them at all, but I think you need a specific set of circumstances to make them work out financially.
I want to own the car outright and run it for at about 7 years. Cars here are extremely expensive and 'double-taxed' but the interest rates for loans are low.
Buying over 60 months then, PCP will cost me 5500 euros more than HP. The monthly is 300 euros less but the balloon would mean I am worse off than HP for outright purchase.
Paying cash would save me 3890 euros (interest rate is 3.2%) but I can best that just by leaving the money in a decent savings account.
So HP it is I think and keep the cash invested. In fact, works out better since the cash is part of a larger sum anyway.
Whenever I have felt that I've wasted money on a car, it has been due to a PCP deal. I'm not against them at all, but I think you need a specific set of circumstances to make them work out financially.
Nickbrapp said:
I like to PCP my houses,
I paid a large deposit for the first one, then I make monthly payments along with some intrest and bring the balance down, then every 5 years or so I decide to change houses, so I hand this one to someone else and use the equity I’ve built up as a deposit for the next month, again with monthly payments and some intrest.
I could decide to carry these payments on for a much longer period of time then own the house outright.
Maybe that’s more like a hire purchase though.
No guaranteed minimum future value provided by your finance company and no balloon payment to cover it, so not a PCP.I paid a large deposit for the first one, then I make monthly payments along with some intrest and bring the balance down, then every 5 years or so I decide to change houses, so I hand this one to someone else and use the equity I’ve built up as a deposit for the next month, again with monthly payments and some intrest.
I could decide to carry these payments on for a much longer period of time then own the house outright.
Maybe that’s more like a hire purchase though.
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