How do you use PCP?

How do you use PCP?

Author
Discussion

anonymous-user

53 months

Wednesday 23rd January 2019
quotequote all
I paid cash for one of my cars, wish I had got PCP, at least I would have had some future value and "get-out" point, instead it has probably cost me £1k per month in depreciation and I am pretty sure the interest would have been less.

PCP, HP, lease, cash all have a right place and right time, who really cares what other people do or if they can "afford" it, sad pathetic little lives you must lead if it actually bothers you.

I, for one, am glad people do, as I generally buy my cars used so the more new cars people buy the greater my choice in a few years.

anonymous-user

53 months

Wednesday 23rd January 2019
quotequote all
TheStigsWeeBrother said:
It was a very simple question but obviously not simple enough for you. silly

1) Where did I say I buy all my cars cash?

2) Wher have people said that ALL PCP'ers have no money?

3) Do you actually believe that EVERY PCP'er has the full purchace price in the bank?

4) Could you answer the original question without all the hyperbole/lies?

Edited by anonymous-user on Wednesday 23 January 07:23
Off topic but related

Throw a pic or two up of your MK1 on your profile or in readers’ rides.

Cracking little motors.

PS - don’t worry about including pics of the receipt to show how you paid for it. Nobody with half a brain cares wink


Edited by anonymous-user on Wednesday 23 January 07:47

roadsmash

2,622 posts

69 months

Wednesday 23rd January 2019
quotequote all
TheStigsWeeBrother said:
roadsmash said:
Oh god!

Caught red handed!!! We’ve got a monthly insurance payer here!!!

BUYS ALL HIS CARS CASH BUT HASNT GOT ENOUGH LEFT IN THE BANK TO INSURE IT UP FRONT!!!

Do you know how pathetic that sounds?

That’s what you sound like when you and your other cronies claim that all who PCP have no cash. smile
It was a very simple question but obviously not simple enough for you. silly

1) Where did I say I buy all my cars cash?

2) Wher have people said that ALL PCP'ers have no money?

3) Do you actually believe that EVERY PCP'er has the full purchace price in the bank?

4) Could you answer the original question without all the hyperbole/lies?

Edited by TheStigsWeeBrother on Wednesday 23 January 07:23
I can’t be bothered with your other questions because we’ll go round in circles.

But I’ll answer the PCP’ing isn’t spreading the cost question...

...Of course it is. With an optional balloon at the end.

Jesus Christ.

Let people buy cars how they want stop being so bothered.

jimPH

3,981 posts

79 months

Wednesday 23rd January 2019
quotequote all
Superleg48 said:
I really don’t care how people purchase their cars. It really does not interest me at all. Why the subject of PCP or indeed any other mechanism creates so much debate is beyond me.

I also don’t care who drives what, just so long as they are enjoying what they are driving if the car was their choice to buy. This notion that PCP somehow entitles the undeserved to drive a nice car, expressed by some people is utter bks. Since when do we sit in judgement and determine who should be driving what? Plainly ridiculous.

As with most things, people will just do what suits them. It really is not that interesting. The cars, however, are interesting...sometimes...so talk about them instead.
Why do you open a thread that you're not interested in, then post on it tell everyone you aren't interested in the subject.


jimPH

3,981 posts

79 months

Wednesday 23rd January 2019
quotequote all
roadsmash said:
TheStigsWeeBrother said:
roadsmash said:
This topic was exhausted on a very similar thread only last week. It reached over 30 pages.

Bottom line is that I PCP/lease my cars and buy everything else. Although I’m not against buying cash and may do so in the future for the right deal/car.

There are MANY good PCP/leases and MANY poor cash deals... and VICE VERSA.

I wonder how many “anti PCP’ers” on here pay monthly for their car insurance opposed to buying up front.

It would be laughable if any of them refuse to spread the cost of a car over monthly payments but then insure it via a monthly direct debit.

Would love to know that stat.
PCP’ing a car isn’t spreading the cost over the term though is it?
Oh god!

Caught red handed!!! We’ve got a monthly insurance payer here!!!

BUYS ALL HIS CARS CASH BUT HASNT GOT ENOUGH LEFT IN THE BANK TO INSURE IT UP FRONT!!!

Do you know how pathetic that sounds?

That’s what you sound like when you and your other cronies claim that all who PCP have no cash. smile
Not all, most. Or do you think most people that PCP have the cash sitting in the bank to buy their cars.

jimPH

3,981 posts

79 months

Wednesday 23rd January 2019
quotequote all
VAGLover said:
Fair point, if cash purchase brings more risk, and you apply a realistic opportunity cost of return. Say 1.5% then it actually makes pcp seem more compelling.
Anyway, each to their own

FYI. I have enough cash to buy my cars in cash. I personally pcp and then pay off half way through,
I don’t want a good sized chunk of cash tied up in an asset on the drive - I value liquidity
Surely you have enough liquidity remaining that you can cover a cash purchase without financial hardship. If not, PCP is indeed for you.

VAGLover

918 posts

77 months

Wednesday 23rd January 2019
quotequote all
jimPH said:
VAGLover said:
Fair point, if cash purchase brings more risk, and you apply a realistic opportunity cost of return. Say 1.5% then it actually makes pcp seem more compelling.
Anyway, each to their own

FYI. I have enough cash to buy my cars in cash. I personally pcp and then pay off half way through,
I don’t want a good sized chunk of cash tied up in an asset on the drive - I value liquidity
Surely you have enough liquidity remaining that you can cover a cash purchase without financial hardship. If not, PCP is indeed for you.
My desire for liquidity isn’t to cover basic outgoings - it’s for having the ability to do spontaneous things, or make major purchases. Or in this climat post brexit pick up distressed assets!
I have more than enough to cover my daily outgoings and buy a car with cash if needed.

anonymous-user

53 months

Wednesday 23rd January 2019
quotequote all
jimPH said:
Surely you have enough liquidity remaining that you can cover a cash purchase without financial hardship. If not, PCP is indeed for you.
Have cash must spend ?

That sounds remarkably irresponsible Jim




TheStigsWeeBrother

344 posts

64 months

Wednesday 23rd January 2019
quotequote all
roadsmash said:
TheStigsWeeBrother said:
roadsmash said:
Oh god!

Caught red handed!!! We’ve got a monthly insurance payer here!!!

BUYS ALL HIS CARS CASH BUT HASNT GOT ENOUGH LEFT IN THE BANK TO INSURE IT UP FRONT!!!

Do you know how pathetic that sounds?

That’s what you sound like when you and your other cronies claim that all who PCP have no cash. smile
It was a very simple question but obviously not simple enough for you. silly

1) Where did I say I buy all my cars cash?

2) Wher have people said that ALL PCP'ers have no money?

3) Do you actually believe that EVERY PCP'er has the full purchace price in the bank?

4) Could you answer the original question without all the hyperbole/lies?

Edited by TheStigsWeeBrother on Wednesday 23 January 07:23
I can’t be bothered with your other questions because we’ll go round in circles.

But I’ll answer the PCP’ing isn’t spreading the cost question...

...Of course it is. With an optional balloon at the end.

Jesus Christ.

Let people buy cars how they want stop being so bothered.
Of course your not interested because your a liar and you have been caught out.


InitialDave

11,856 posts

118 months

Wednesday 23rd January 2019
quotequote all
If you have something that costs one amount.

And you can instead purchase it by paying a deposit and then paying a monthly amount.

How is that not "spreading the cost"?

jimPH

3,981 posts

79 months

Wednesday 23rd January 2019
quotequote all
Brooking10 said:
Have cash must spend ?

That sounds remarkably irresponsible Jim
Maybe you should read my post again. I'm pointing out how irresponsible it would be to spend all your money on something like a car.

anonymous-user

53 months

Wednesday 23rd January 2019
quotequote all
jimPH said:
Brooking10 said:
Have cash must spend ?

That sounds remarkably irresponsible Jim
Maybe you should read my post again. I'm pointing out how irresponsible it would be to spend all your money on something like a car.
How about if you spent a defined proportion of the money on running a car over a similarly defined period of time retainimg the balance of your capital for whatever else life might throw at you ?

Sounds sensible, surely ?

TheStigsWeeBrother

344 posts

64 months

Wednesday 23rd January 2019
quotequote all
Brooking10 said:
jimPH said:
Brooking10 said:
Have cash must spend ?

That sounds remarkably irresponsible Jim
Maybe you should read my post again. I'm pointing out how irresponsible it would be to spend all your money on something like a car.
How about if you spent a defined proportion of the money on running a car over a similarly defined period of time retainimg the balance of your capital for whatever else life might throw at you ?

Sounds sensible, surely ?
Now who’s making assumptions that people who pay cash for cars are using every last penny of their money.
Did you?

jimPH

3,981 posts

79 months

Wednesday 23rd January 2019
quotequote all
VAGLover said:
My desire for liquidity isn’t to cover basic outgoings - it’s for having the ability to do spontaneous things, or make major purchases. Or in this climat post brexit pick up distressed assets!
I have more than enough to cover my daily outgoings and buy a car with cash if needed.
We seem to be sharing the same outlook re post brexit. Yet have completely opposing strategys. Mine has been to eliminate or minimise any and all monthly outgoings in order to maximize my total savings. I also have the option of credit, without declaring any monthly payments that might affect my application to do so.

If anyone was looking to remain liquid in preparation to purchase an expensive asset, surely getting bogged down with car finance would be best avoided?

Might just be me. But arguments along these lines are generally just hyperbole.

anonymous-user

53 months

Wednesday 23rd January 2019
quotequote all
TheStigsWeeBrother said:
Brooking10 said:
jimPH said:
Brooking10 said:
Have cash must spend ?

That sounds remarkably irresponsible Jim
Maybe you should read my post again. I'm pointing out how irresponsible it would be to spend all your money on something like a car.
How about if you spent a defined proportion of the money on running a car over a similarly defined period of time retainimg the balance of your capital for whatever else life might throw at you ?

Sounds sensible, surely ?
Now who’s making assumptions that people who pay cash for cars are using every last penny of their money.
Did you?
Not me.

Where have you got that idea from ?

anonymous-user

53 months

Wednesday 23rd January 2019
quotequote all
jimPH said:
VAGLover said:
My desire for liquidity isn’t to cover basic outgoings - it’s for having the ability to do spontaneous things, or make major purchases. Or in this climat post brexit pick up distressed assets!
I have more than enough to cover my daily outgoings and buy a car with cash if needed.
We seem to be sharing the same outlook re post brexit. Yet have completely opposing strategys. Mine has been to eliminate or minimise any and all monthly outgoings in order to maximize my total savings. I also have the option of credit, without declaring any monthly payments that might affect my application to do so.

If anyone was looking to remain liquid in preparation to purchase an expensive asset, surely getting bogged down with car finance would be best avoided?

Might just be me. But arguments along these lines are generally just hyperbole.
It all depends on one’s personal circumstances though surely ?

Number of dependents, lifestyle, assets, mortgage or lack of, investments, career trajectory, earning potential, redundancy provisions etc etc

There really is no one size fits all answer.

Edited to add - the vast majority of people would agree with you that in times of economic uncertainty insulating oneself against a downturn in personal fortunes is a good idea.

The current trend of reduced consumer expenditure, falling car sales, slowing property sales and increased levels of household debt repayment should give you some comfort that the entire population is not as stupid as some think.



Edited by anonymous-user on Wednesday 23 January 09:57

Car-Matt

1,923 posts

137 months

Wednesday 23rd January 2019
quotequote all
[redacted]

MrOrange

2,031 posts

252 months

Wednesday 23rd January 2019
quotequote all
[redacted]

Dr Jekyll

23,820 posts

260 months

Wednesday 23rd January 2019
quotequote all
When did manufacturer PCPs start in the UK? I seem to remember Ford Options as one of the first, early 90s?

VAGLover

918 posts

77 months

Wednesday 23rd January 2019
quotequote all
jimPH said:
VAGLover said:
My desire for liquidity isn’t to cover basic outgoings - it’s for having the ability to do spontaneous things, or make major purchases. Or in this climat post brexit pick up distressed assets!
I have more than enough to cover my daily outgoings and buy a car with cash if needed.
We seem to be sharing the same outlook re post brexit. Yet have completely opposing strategys. Mine has been to eliminate or minimise any and all monthly outgoings in order to maximize my total savings. I also have the option of credit, without declaring any monthly payments that might affect my application to do so.

If anyone was looking to remain liquid in preparation to purchase an expensive asset, surely getting bogged down with car finance would be best avoided?

Might just be me. But arguments along these lines are generally just hyperbole.
Fair point, but note. Credit maybe hard to come by during a recession, cash you already have isn’t.
Distressed assets sell fast, maybe no time to apply for Loan

Also, I have a car allowance which virtually covers monthlies anyway