Discussion
Im really getting tempted by getting an Exige on PCP. I was going to save up for one but a) im rubbish at saving and b) im impatient. I take home a decent bit of money each month so this option is tempting.
What I was wondering is, for the initial deposit, does it have to be cash or will they take a car as 'part ex' on the deposit part? I have a car i would be getting rid of and hate selling cars privately.
What I was wondering is, for the initial deposit, does it have to be cash or will they take a car as 'part ex' on the deposit part? I have a car i would be getting rid of and hate selling cars privately.
PCP may be crap in some circumstances but for me:
Monthly wage is high
Willpower is low
Never keep a car longer than 2 years
Too impatient to save and always end up with mountains of expensive crap that I dont use instead of savings
Would definately want to PX in as part of the deposit as I have 4 cars currently
So for me I think it could be a workable option.
Monthly wage is high
Willpower is low
Never keep a car longer than 2 years
Too impatient to save and always end up with mountains of expensive crap that I dont use instead of savings
Would definately want to PX in as part of the deposit as I have 4 cars currently
So for me I think it could be a workable option.
Edited by PaulB81 on Sunday 2nd October 16:02
Edited by PaulB81 on Sunday 2nd October 16:02
If you don't mind me asking, what are you planning to p/ex?
The reason I ask is that (to my mind at least) there's little point throwing a load of capital into a pcp deal - 10% at the very most, for me. I'm sure others will disagree and demonstrate that I'm completely wrong, but given that the likelihood of keeping the car long-term seems low, you're better spending a little more each month but pocketing the capital from your current car.
Alternatively, throw in all the capital and take out a bank loan for the rest.
All IMHO of course!
The reason I ask is that (to my mind at least) there's little point throwing a load of capital into a pcp deal - 10% at the very most, for me. I'm sure others will disagree and demonstrate that I'm completely wrong, but given that the likelihood of keeping the car long-term seems low, you're better spending a little more each month but pocketing the capital from your current car.
Alternatively, throw in all the capital and take out a bank loan for the rest.
All IMHO of course!
Gruber said:
If you don't mind me asking, what are you planning to p/ex?
The reason I ask is that (to my mind at least) there's little point throwing a load of capital into a pcp deal - 10% at the very most, for me. I'm sure others will disagree and demonstrate that I'm completely wrong, but given that the likelihood of keeping the car long-term seems low, you're better spending a little more each month but pocketing the capital from your current car.
Alternatively, throw in all the capital and take out a bank loan for the rest.
All IMHO of course!
PX would be a BMW 330ci Msport on a 54 plate with FSH, low mileage for the age and in general VGC. Its not exactly worth loads but not pennies either. The reason I ask is that (to my mind at least) there's little point throwing a load of capital into a pcp deal - 10% at the very most, for me. I'm sure others will disagree and demonstrate that I'm completely wrong, but given that the likelihood of keeping the car long-term seems low, you're better spending a little more each month but pocketing the capital from your current car.
Alternatively, throw in all the capital and take out a bank loan for the rest.
All IMHO of course!
You'd be much better getting the figures right for you (deposit and monthly payment) and an idea of delivery timefram then sell your BMW privately.
No reason why the p/x offer would be any different as a result of you wanting a PCP
As has already been said its a good idea to keep your deposit as low as possible, whilst a big deposit keeps payments low you'll quickly become conditioned to those payments and when you get to the end of the PCP its unlikely your equity (if there is any) would be close to your initial deposit.
Best advice is pay as much in monthly payments as you can afford and keep your deposit as low as possible
No reason why the p/x offer would be any different as a result of you wanting a PCP
As has already been said its a good idea to keep your deposit as low as possible, whilst a big deposit keeps payments low you'll quickly become conditioned to those payments and when you get to the end of the PCP its unlikely your equity (if there is any) would be close to your initial deposit.
Best advice is pay as much in monthly payments as you can afford and keep your deposit as low as possible
iphonedyou said:
daemon said:
On the basis that its an Exige or on the basis that its a PCP deal?
No no, just on the basis that it's a dealer making a part ex offer 
They're always very low.I guess its easier on a volume car because you just keep trying other dealers for a better deal, not so easy with something like Lotus.
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