How to pay for a £50k car if keeping for less than 2 years?

[Sunnyv5]

Hi guys

Thinking of buying a car (coupe) but planning to keep it for maybe 1-2 years.

I am thinking whether to buy outright (no loan) for £50k. Or HP/PCP - if these are better options if I am only keeping car for short time?

Has anyone done something similar and did you pick PCP or HP for any particular reason?

[SWoll]

Sunnyv5 said:

Hi guys

Thinking of buying a car (coupe) but planning to keep it for maybe 1-2 years.

I am thinking whether to buy outright (no loan) for £50k. Or HP/PCP - if these are better options if I am only keeping car for short time?

Has anyone done something similar and did you pick PCP or HP for any particular reason?

New or used? Used PCP interest rates are rubbish.

It's a tough one at the minute as prices are all over the place so difficult to judge exactly what 2 years is likely to cost you, but f you've got the cash and nothing else to do with it why not save on any finance cost as you're unlikely to make much on it in 2 years without some fairly risky investments.

If it's new and the PCP gives you access to any discounts then look into taking that out and paying it off immediately.

[Phil Dicky]

The details of the car may make it easier to give advise.

[av185]

Buy outright pcp used very expensive also risky time to invest the cash in the markets little upside plenty of downside atm.

[Sunnyv5]

av185 said:

Buy outright pcp used very expensive also risky time to invest the cash in the markets little upside plenty of downside atm.

Good point!

It will be used car from main dealer. Thinking BMW M2 or m3, or maybe even Porsche Cayman.