PCP: would you pay more deposit or higher monthly payments?

[Usy777]

Hi all, just a general question regarding pcp finance as I'm curious to see whether people prefer to pay more deposit or higher monthly payments?

I know it's a bit of a vague question as it depends on everyone's circumstances, but I am considering paying higher monthly payments for my next purchase?

Let me know your thoughts!

[BlindedByTheLights]

Less deposit more interest to pay = car more expensive. Personal choice.

[RonnieHotdogs]

For me it depends on the car and the APR ... It's all a balancing act.

Higher APR = bigger deposit to save more.

Just remember if you do chuck more money in as a deposit, you'll need to save roughly that amount again by the end of the term to get a new car with the same payments.

[LostM135idriver]

For me it it depends on a combination of cost and also whether I have other requirements for the cash (mostly house related). If I need a chunk of cash for something else (beyond just savings) then I’ve gone with a lower deposit, if I have nothing else to use it for, goes into car.

[sw67]

Always min deposit - i am on my 4th PCP. On the first 2 the car was just about worth what the settlement figure was , the 3rd one i did a voluntary termination as the car was 6k in negative equity ( Audi A6 )

My current car has £3k equity and i plan on paying the balloon payment and keeping it.