Peppino Impastato Posted February 18, 2018 Share Posted February 18, 2018 42 minutes ago, statts1976uk said: One of the advantages of HP is being able to hand the car back at the halfway stage if your circumstances change or if you want to just change the car. I’ve just bought the Mrs a car on PCP but she doesn’t do the mileage that I do so it suits us for that. My mileage means that PCP deals are fairly high so not that cost effective but it has been in the news recently about PCP having the same get out clause as HP but needless to say the lenders are trying to challenge it. You should never make a purchase like that on drugs. 1 Quote Link to comment Share on other sites More sharing options...
statts1976uk Posted February 18, 2018 Share Posted February 18, 2018 2 hours ago, Peppino Impastato said: You should never make a purchase like that on drugs. It wasn’t the PCP that did it for me just a dodgy batch of HP sauce! 0 Quote Link to comment Share on other sites More sharing options...
UsedToGoToCentralPark Posted February 18, 2018 Share Posted February 18, 2018 Think the general rule of thumb is that if you change car every 2 or 3 years then lease as the lease costs will be less than the depreciation so you are better off.If you keep a car more than 3 years then purchasing makes more sense.HP/PCH has and advantage you can return after paying half. 1 Quote Link to comment Share on other sites More sharing options...
throbber Posted February 18, 2018 Share Posted February 18, 2018 That seems fair enough advice. Don’t think you want to be paying off a car for much longer than 4 years though as by that time you are paying off a car that’s nowhere near as valuable as it was when you took the contract out. You see HP deals for 60 months and that is just madness! 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted February 18, 2018 Share Posted February 18, 2018 My preference is buying a 3 to 4 year old car with low milage and running it until it's scrappie time. Most modern cars are pretty reliable, should get 10 years out of it. 2 Quote Link to comment Share on other sites More sharing options...
PB 4.2 Posted February 18, 2018 Share Posted February 18, 2018 Best to save up and buy with cash. Loaning cars is for weirdos. 2 Quote Link to comment Share on other sites More sharing options...
throbber Posted February 18, 2018 Share Posted February 18, 2018 Best to save up and buy with cash. Loaning cars is for weirdos. Most people don’t have the time to save up 5-10 grand to get a decent car though. Welshbairn, your approach might work although you could easily have a car that has all sorts going wrong with it after a certain mileage and your spending ridiculous money just to keep it on the road. 0 Quote Link to comment Share on other sites More sharing options...
JamieT1314 Posted February 18, 2018 Share Posted February 18, 2018 I'm also going down the pcp route now. Hassle free motoring being the main draw. 0 Quote Link to comment Share on other sites More sharing options...
RandomGuy. Posted February 18, 2018 Share Posted February 18, 2018 46 minutes ago, throbber said: Most people don’t have the time to save up 5-10 grand to get a decent car though. Welshbairn, your approach might work although you could easily have a car that has all sorts going wrong with it after a certain mileage and your spending ridiculous money just to keep it on the road. I went down the bank loan route. £10k in your bank, no initial payment needed and you pay it back over 5 years at £180 a month. Buy the car outright so if moneys ever tight I sell it and get the full value of it, and the monthly payments are low enough you can almost ignore them tbh. Spoke to a finance company who said they can't get close to that. Not the best idea for all, and ideally it wouldn't of been as long, but I prefer owning my car. 0 Quote Link to comment Share on other sites More sharing options...
throbber Posted February 18, 2018 Share Posted February 18, 2018 It is a good way of doing it Random Guy but I just don’t want to go borrowing £10k at this time in my life which is what makes me fancy the PCP idea a bit more. 0 Quote Link to comment Share on other sites More sharing options...
heedthebaa Posted February 18, 2018 Share Posted February 18, 2018 1 hour ago, welshbairn said: My preference is buying a 3 to 4 year old car with low milage and running it until it's scrappie time. Most modern cars are pretty reliable, should get 10 years out of it. 1 hour ago, PB 4.2 said: buy with cash. Always done this 0 Quote Link to comment Share on other sites More sharing options...
statts1976uk Posted February 18, 2018 Share Posted February 18, 2018 (edited) 2 hours ago, throbber said: Most people don’t have the time to save up 5-10 grand to get a decent car though. Welshbairn, your approach might work although you could easily have a car that has all sorts going wrong with it after a certain mileage and your spending ridiculous money just to keep it on the road. Buying clapped out old Kias only requires a couple of weeks of saving up, it’s even easier to buy a car cash when it doesn’t exist! Edited February 18, 2018 by statts1976uk 2 Quote Link to comment Share on other sites More sharing options...
CLANCY2KTID Posted February 18, 2018 Share Posted February 18, 2018 Think I'm going to change our main car shortly. Currently got an Alfa 159ti but the replacement Giulia is a tad expensive. Looking at the Volvo V40, never thought I'd be in position that I'd be looking to buy a Volvo but it seems like a really nice car. 0 Quote Link to comment Share on other sites More sharing options...
JamieT1314 Posted February 18, 2018 Share Posted February 18, 2018 My bank loan rates were worse than what Arnold Clark were offering on finance. 0 Quote Link to comment Share on other sites More sharing options...
PB 4.2 Posted February 18, 2018 Share Posted February 18, 2018 2 hours ago, statts1976uk said: Buying clapped out old Kias only requires a couple of weeks of saving up, it’s even easier to buy a car cash when it doesn’t exist! Any chance of editing that again so it becomes borderline readable? #KIA #MYCAR #CASHBUY 0 Quote Link to comment Share on other sites More sharing options...
statts1976uk Posted February 18, 2018 Share Posted February 18, 2018 1 hour ago, PB 4.2 said: Any chance of editing that again so it becomes borderline readable? #KIA #MYCAR #CASHBUY So have you paid cash for your Kia Cee’d concept car yet? 0 Quote Link to comment Share on other sites More sharing options...
PB 4.2 Posted February 18, 2018 Share Posted February 18, 2018 1 minute ago, statts1976uk said: So have you paid cash for your Kia Cee’d concept car yet? I won't be replacing my motor vehicle in the first half of this year. But I'm in a 'can do' situation regarding financing a cash purchase. #perthshire 0 Quote Link to comment Share on other sites More sharing options...
Melanius Mullarkey Posted February 18, 2018 Share Posted February 18, 2018 3 hours ago, JamieT1314 said: My bank loan rates were worse than what Arnold Clark were offering on finance. I won’t be asking you for a loan then. (You may want to rethink your marketing strategy) 0 Quote Link to comment Share on other sites More sharing options...
statts1976uk Posted February 18, 2018 Share Posted February 18, 2018 I won't be replacing my motor vehicle in the first half of this year. But I'm in a 'can do' situation regarding financing a cash purchase. #perthshire Of course you are!Are you still in discussions with your Kia dealer about buying this car, your Kia Cee’d 2018 model? The one you were proud as punch to be associated with?Whereas this is the real 2018 Kia Cee’d, a smart enough little motor for the man on a budget.Anyone got any magic beans for sale? PB will give you good price! 0 Quote Link to comment Share on other sites More sharing options...
PB 4.2 Posted February 18, 2018 Share Posted February 18, 2018 @statts1976uk Given that I'm very interested in the #proceed (linked in red), why do you keep pulling up the entry-level #ceed? Have you been on the bottle again? 0 Quote Link to comment Share on other sites More sharing options...
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