I've been been reading with interest the increasing number of attractive PCP deals being quoted on here of late.

£2-3K down, £250 / month, 10,000 miles per year, servicing included.

They sound too good to be true, are they?

I've always bought my cars nearly new, a small deposit and a straight bank loan gets me a £15K car for £250/month over 5 years.

Problem is I do 30,000 miles a year which I've always assumed makes a PCP too expensive over three years.

My current way of buying cars means that I tend to keep them until they are 10+ years old / 200,000+ miles on them. Their small value is then used as the deposit on the next car.

Would I better on a PCP given my high mileage?

Edited 23 March, 201412 yr by silver1011

PCP tops out at 25,000 miles per year. Can't be had above this.

This is the first site I checked and they max out at 30,000...

http://www.finance4cars.co.uk/PCP_Car_Finance_Calculator/PCPcarsearch.jsp

PCP tops out at 25,000 miles per year. Can't be had above this.

Depends who you speak to, for example I had a quote for 30k miles from the Skoda garage in Stirling, however Arnold Clark in Paisley said I could only get 25k.

 

I have them both in writing.

Whose best for pcp's chaps?

Main stealers or these independents, most of whom I've never heard of tbh .

 

Internet is overflowing with them it seems.

Where DO you start?

Edited 26 March, 201412 yr by Mr Ree

Good question, there are lots of companies offering PCP's out there!

Good question, there are lots of companies offering PCP's out there!

I'm sniffin' myself Silver, but it's just a minefield of everyone 'claiming' to be the best.

 

Get bored looking and comparing  all these different sites tbh.

 

Think I'll just go to Halfrauds and get myself a new bike !

Edited 26 March, 201412 yr by Mr Ree

Haha, don't blame ya!

 

What got me interested is my boss has just ordered a new Octavia 1.6 TDi 4x4 estate in race blue with silver roof rails.

 

He's put down £3K as a deposit and is paying just shy of £300/month for 3 years (I think), what got my attention was his annual mileage of 20,000 miles.

 

This is from his Skoda main dealer and he mentioned something about 0% interest, free maintenance and servicing included.

 

I'm paying £250 on a straight loan for my 2011 Superb.

Bought mine on a pcp at 20k a year. I'm doing more like 35k but I always intended to buy it. I'll be paying the price for a 60k car with over 100k actual, but the ecu, suspension and brakes won't be original, plus most of the mileage is 70 - 80 mph cruise at 3k rpm moderate load. I figured it would work for me.

Sent from my GT-I9305 using Tapatalk

Bought mine on a pcp at 20k a year. I'm doing more like 35k but I always intended to buy it. I'll be paying the price for a 60k car with over 100k actual, but the ecu, suspension and brakes won't be original, plus most of the mileage is 70 - 80 mph cruise at 3k rpm moderate load. I figured it would work for me.

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Actually makes a bit of sense that, as YOU will know it's FULL history over that 100k miles, so no nasty suprises.

 

Buying one from a 2nd hand outfit with that sort of mileage there is always going to be that bit of a niggle in the back of your mind as to what it got up to on its long journey there.

Nowt wrong with high mileage though if it's been well looked after and serviced regulary, and YOU have the benefit of knowing that that's the case here.

Edited 29 March, 201412 yr by Mr Ree

My last car was PCP on 265/yr.  Changed my job and it only had 58K when it went back. With  hindsight I think I would have been better going for a lower mileage and paying the penalties.  Dont think it would have cost me much more even if I had fdone the 75K

Our work shuttles are on lease, they're 2011 people carriers but will have 130k on them by the end of the year. Some poor sod will buy them thinking they've done motorway miles, when they've done town work the whole time, been through god knows how many clutches and turbos!

Our work shuttles are on lease, they're 2011 people carriers but will have 130k on them by the end of the year. Some poor sod will buy them thinking they've done motorway miles, when they've done town work the whole time, been through god knows how many clutches and turbos!

Roomsters being used around here by one company..

 

Stage Coach are using a variety of vans and are generally in a shocking state even after just a few months according to young Ree.

Defo not the ones to buy down the line.

I'm not surprised, until we got these new Vauxhall Zafiras we had a 1999 Merc Vito with no 3rd gear, a 1999 Transit minibus, ran on 2 or 3 cylinders most of the time (max 40mph), awful to drive. Numerous ex london black cabs (early 90s), a couple of corsa combo vans and a 90's red escort van.

 

The transit minibus was a pain because it had 16 seats so you needed a manual pcv to drive it. 90% of our drivers have auto licences. TBH, the Zafiras are not much better than some of the other sheds we have had! The cabs were a laugh, so much roll lol. 

Edited 30 March, 201412 yr by matt1chelski

Haha, don't blame ya!

What got me interested is my boss has just ordered a new Octavia 1.6 TDi 4x4 estate in race blue with silver roof rails.

He's put down £3K as a deposit and is paying just shy of £300/month for 3 years (I think), what got my attention was his annual mileage of 20,000 miles.

This is from his Skoda main dealer and he mentioned something about 0% interest, free maintenance and servicing included.

I'm paying £250 on a straight loan for my 2011 Superb.

Silver your £250 straight is buying your car outright, when the loan is repaid!

You will own it to do what you want with and if your circumstances have changed so you can adapt as to what you need to do I.e. keep it or move it on as a deposit but the choice will be yours.

A lot of people on pcp's will never own a vehicle, which may suit them but they will be stuck in a PCP for life or get out of it.

The main ways out of a pcp is either pay the balloon figure off (may need to refinance to do so) or walk away with nothing at some point!

It maybe a few vehicles/pcp's/years down the line but it needs paying off one way or another.

So your bosses £3k deposit and 36x amount of £300 payments, plus admin fees a total of around £13k will mean nothing unless he pays the final baloon of £xxx or takes on another PCP or walks with didly squat!

A PCP means you are only paying off the depreciation of the asset with interest for the agreed duration of the PCP.

Stick with your loan and own your 2011 car!

Edited 30 March, 201412 yr by Defenderben

I'm not surprised, until we got these new Vauxhall Zafiras we had a 1999 Merc Vito with no 3rd gear, a 1999 Transit minibus, ran on 2 or 3 cylinders most of the time (max 40mph), awful to drive. Numerous ex london black cabs (early 90s), a couple of corsa combo vans and a 90's red escort van.

 

The transit minibus was a pain because it had 16 seats so you needed a manual pcv to drive it. 90% of our drivers have auto licences. TBH, the Zafiras are not much better than some of the other sheds we have had! The cabs were a laugh, so much roll lol. 

Is that right?! :no:

 

On saying that, I don't suppose there's many manual PCV's around now.

 

Bit off topic, soz, but for Matt really.

One of the new lady drivers was apparently transferred onto stage carriage work today from Park & Ride where they start.

 

She was being shown the new route, but the lazy get that was supposed to be showing her told her she should drive, and she promptly ripped half the side offf the bus against a railway bridge on a narrow tight turning, showering the passengers in glass.

Needless to say, she's been suspended.

 

The othere driver should be too imo. Trying to learn a new route AND drive too?

Bang out of order imo.

Edited 31 March, 201412 yr by Mr Ree

Most people on PCP's will trade in at the agreed timescale and get another new car on another PCP. Keeps you in a new car every 3 years or so but as has been said in effect you never own a car during this period. In effect you are taking on a personal lease

Most people on PCP's will trade in at the agreed timescale and get another new car on another PCP. Keeps you in a new car every 3 years or so but as has been said in effect you never own a car during this period. In effect you are taking on a personal lease

Most people I know use pcp now, as they, like me and virtually everyone else, worry about owning a modern car with no manufacturer warranty.

A very valid point imo.

 

3+ years old out of warranty and broken down?

May as well bin it and get a new one, as invariably the cost of repair outweighs the value.

 

Very clever the way the manufacturers and government have managed to do this to keep us buying new.

Edited 1 April, 201412 yr by Mr Ree