Nearly new AMG C63s coupe - cash or PCP finance?
Discussion
Hi guys, new to posting but long time lurker.
I'm looking to purchase a AMG C63s Coupe as my daily/ fun for some weekend trips. I've done all the leg work on various alternatives and settled on this motor. Found a lovely ex-demo example, only 3 months old and 1700 on the clock. All the options you'd want - carbon, 360 cam, performance seats, night pack etc.
So I'm down to how to finance it - it's currently just over £60k. I can comfortably pay cash outright but would ideally like to keep that cash available so I've looked into finance. I've been offered a 3yr PCP deal from Magnitude at 10k miles p/yr, £10k deposit with monthlies of £840. I'm fortunate enough for both options to be doable but interested on what's considered the more senseible option?
It's the first time I'm buying a performance car of this value and my gut (like I'm sure many others) says that owning outright is the safest and won't incur interest like the finance option but my head is telling me there is more that could be done to make that £50k work for me over that period. What would you do?
Appreciate any feedback!
I'm looking to purchase a AMG C63s Coupe as my daily/ fun for some weekend trips. I've done all the leg work on various alternatives and settled on this motor. Found a lovely ex-demo example, only 3 months old and 1700 on the clock. All the options you'd want - carbon, 360 cam, performance seats, night pack etc.
So I'm down to how to finance it - it's currently just over £60k. I can comfortably pay cash outright but would ideally like to keep that cash available so I've looked into finance. I've been offered a 3yr PCP deal from Magnitude at 10k miles p/yr, £10k deposit with monthlies of £840. I'm fortunate enough for both options to be doable but interested on what's considered the more senseible option?
It's the first time I'm buying a performance car of this value and my gut (like I'm sure many others) says that owning outright is the safest and won't incur interest like the finance option but my head is telling me there is more that could be done to make that £50k work for me over that period. What would you do?
Appreciate any feedback!
PCP deal sounds a bit naff? £40k for 3yrs and 30k miles? I’d expect the car to be worth more than 20k after that period - so makes sense to buy.
You say make the money work elsewhere... of course you can. You could get a return somewhere, depending on how much risk you are prepared to face - but are you actually going to do it? Many people talk about investing this and that, but typically get scared stick it in multiple ISAs...
You say make the money work elsewhere... of course you can. You could get a return somewhere, depending on how much risk you are prepared to face - but are you actually going to do it? Many people talk about investing this and that, but typically get scared stick it in multiple ISAs...
ZX10R NIN said:
See what sweeteners they're going to add to the finance deal Service Pack Extended Warranty etc, then take out the finance & then settle the finance after 6 months you get the extras & then own it, which to me is a win win.
That only works with dealer/manufacturer provide finance.
OP is talking about using a third party.
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