Looking for SUV PCP suggestions: Budget o6k deposit £250pcm

[leepox]

So my Audi S3 got written off the other day as someone smashed into it whilst it was parked.

We have an SUV as a replacement rental and the missus has fallen in love with the seating position and being able to see more as well as how easy it is to hop in and out. (Damnit)

So buying another S3 is out of the question. My thinking is I'd like to use half the payout for a deposit for a PCP. However, I have never bought brand new cars before via PCP.

A toyota Yaris Cross seems to be the default option (£6k deposit, £250pcm, £14k baloon payment after 3 years) and doesn't look too bad. However, the Nissan Qashqai and Tucson which are more spacious inside looks appealing. Any thoughts? Suggestions?

[Crumpet]

£5000 a year for a car that can be had new for £25k seems a bit steep. Pretty sure you can get a new shape Skoda Kodiaq on lease for less than that - that’s a £40k+ car.

[Edible Roadkill]

Don’t get a hatchback on stilts just because your wife wants to sit up higher up, get another s3 and a cushion for her to sit on.

[Sheepshanks]

Have you got kids? There’s not a lot of room in the back of Yaris Cross.

If you’re going to hand it back at 3yrs, then compare lease cost to PCP.

[66HFM]

Also look at what works best for you, is putting a lower deposit and a higher monthly figure a better option and having more cash available?

Not sure how old your S3 was, personally I'd replace it with another, I sold my S3 when No.1 child came along. now we have 3 children a replacement S3 is a long way away..

Why lease, why not go for one of the used options, as correct me if I'm wrong, you'll have £12k back from your S3 and there are any number of used SUVs for sale...

[Wills2]

Take the £12k pay out and the £250 ish a month if you insist and buy something over the 36 month period you mention should be able to spend £20k and own it at the end that way you'll be better off rather than renting something with a GFV that you will not pay off.

[CG2020UK]

Wills2 suggestions is good.

I’d maybe suggest you have a look at lease sites rather than the PCP route.

Typically I find PCP a bit of a rip off now.

LeaseLoco is a good site and have a Hyundai Tucson from £2,579 upfront and £230 a month. Miles are low at 5000 but you can increase.

https://www.leaseloco.com/car-leasing/hyundai/tucs...

I was a similar position as yourself with up to £20k to spend on an SUV. We drove a few and ended up with a very tidy BMW X3 for just under £12k and 80k miles.

[jaydeeuk1]

Edible Roadkill said:

Don’t get a hatchback on stilts just because your wife wants to sit up higher up, get another s3 and a cushion for her to sit on.

You're describing a crossover, like a juke, not an SUV.

[leepox]

Thank you all for your advice - looks like PCP is now out as an option. The reason I originally went for PCP is because my parents managed to get a brand new Corolla with 0% APR just before COVID for a price which was similar to a 2 year old example - so it was a no brainer. The final value/baloon payment is also tiny (£11k) and the car right now has a market price of £15-16k.

Anyway, back to me - two options then:

• Buying a 2018+ CHR for 12-13k
• Leasing a car for 2-3 years

Wildcard:
£18k used polestar 2/ VW ID4 (I've driven electric cars before and love the experience, but not sure about owning them/depreciation) - I need to hear it from someone that this is a bad idea.

Edited by leepox on Monday 3rd February 15:26

[jaydeeuk1]

leepox said:

Thank you all for your advice - looks like PCP is now out as an option. The reason I originally went for PCP is because my parents managed to get a brand new Corolla with 0% APR just before COVID for a price which was similar to a 2 year old example - so it was a no brainer. The final value/baloon payment is also tiny (£11k) and the car right now has a market price of £15-16k.

Anyway, back to me - two options then:

• Buying a 2018+ CHR for 12-13k
• Leasing a car for 2-3 years

Wildcard:
£18k used polestar 2/ VW ID4 (I've driven electric cars before and love the experience, but not sure about owning them/depreciation) - I need to hear it from someone that this is a bad idea.

Edited by leepox on Monday 3rd February 15:26

An £18k polestar has already had its depreciation hit, and I wouldn't be too worried about high mileage, motor(s) itself should be good for a million miles and battery (on long range) should last 500,000 before it's junk, probably half capacity closer to 300,000. Worst case in 5 years time is its worth £0, which is unlikely, at a cost of £3600 a year. The ID range is a bit crap, the blandest cars VW have ever released (so far, I'm sure there's more to come), and I include the overpriced underspecced buzz in that.


If you can salary sacrifice and your employer passes on the 50% Vat and NI saving, then a new EV lease might make the best financial sense (my model Y AWD long range is around £380 from net inc BIK)