next January i will have to pay skoda finance £3000 for my mk1 fabia i got using PCP finance.

i've had to take a pay cut at work and the current payment of £199 inc PPI is a little to high for me and the thought of paying £3000 is scaring me,i was going to buy another new skoda in january using pcp but since the pay cut that is not possible.

i emailed my dealer last week about getting PCP for a used skoda and he said yes that is possible.

has anybody bought their car as used using PCP,what deposit did you pay and how much you pay monthly now please???

thanks

Don't forget that you can just give the car back, assuming it's within mileage and you haven't wrecked it. Or you can take it to another brand franchise and get them to clear the finance when they take yours as a trade-in. You might be surprised how much they value your car over the minimum, because they want to get you in another car, and they want to sell you a new PCP.

I was offered over £7000 for an Octi vRS for my '06 Reg vRS which had a GFV of £4105. That was basically a 20% deposit which made the repayments realistic.

The PCP system is just an alternative way to finance a vehicle. It should work even better on a used car because the biggest chunk of depreciation has been partially taken out.

It will work the same as if you bought a new car. There is a calculator on the SUK website where you can work out the values. Their finance is quite pricey at 7.9% APR (that's 3% over base rate) and your cheapest option will almost certainly be to go to your bank or building society and borrow the £3000.

Personally I'd borrow the 3k and keep your current car, especially in the curent economic climate.

I was in a PCP for an Audi A8 but binned it and bought my 2nd hand Octy with the change - having no car payments whatsoever is a great feeling!