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Norcy91

Member

Registered: 15th Sep 08
User status: Offline

22nd Sep 11 at 21:15

Anyone ever done this to get a new car?

Just seen on ebay that Perrys of Burnley are doing brand new Corsa VXR's on a 2 year contract hire. £687 deposit and 23 monthly payments of £229. Seems a good offer to me? Just under £6000 over two years for a brand new car, no tax to pay for a year, full warranty for the 2 years, no need to MOT it.

Just wondering what other people think to getting a car on Personal Contract Hire and what they think of that offer? Thanks

vx-scottw

Premium Member

Registered: 8th Feb 11
Location: sheffield
User status: Offline

22nd Sep 11 at 21:17

seems too good to be true to me

Norcy91

Member

Registered: 15th Sep 08
User status: Offline

22nd Sep 11 at 21:24

quote:
Originally posted by sboisw
seems too good to be true to me

http://www.ebay.co.uk/itm/2011-Vauxhall-Corsa-1-6T-VXR-3-door-Petrol-Hatchback-/190559113856?pt=Automobiles_UK&hash=item2c5e355280#ht_1293wt_1201

John

Member

Registered: 30th Jun 03
User status: Offline

22nd Sep 11 at 21:33

How is it too good to be true?

You pay 6k to rent it for 2 years.

Good for some people but I've never been able to make the sums add up for me.

shaunmods

Premium Member

Registered: 12th Mar 07
Location: Glascote, Staffordshire
User status: Offline

22nd Sep 11 at 21:36

Seems like a good deal that mate! Whats the mileage limit on it?

Norcy91

Member

Registered: 15th Sep 08
User status: Offline

22nd Sep 11 at 21:37

Still a good, cheapish way to get a brand new car though?

Obviously the better thing to do would get a year old one thats taken it's biggest hit on depreciation and get some equity in it by owning it properly. But if you're wanting a brand new car every 2 or 3 years surely this is a good alternative?

Norcy91

Member

Registered: 15th Sep 08
User status: Offline

22nd Sep 11 at 21:39

quote:
Originally posted by shaunmods
Seems like a good deal that mate! Whats the mileage limit on it?

I read somewhere on another deal that it's set at 6000 miles a year

not a right lot really, but i'm sure they'd be willing to change that a little bit to make a sale

richc

Member

Registered: 24th Mar 07
Location: Ilkeston
User status: Offline

22nd Sep 11 at 21:52

quote:
Originally posted by John
How is it too good to be true?

You pay 6k to rent it for 2 years.

Good for some people but I've never been able to make the sums add up for me.

Well odds on, it would loose that in depreciation in that time anyway when you come to sell it. You then have the hassle of getting rid of it.

Looking back, i wish i has PCP'd cars instead of buying them as i like to change often.

Ben G

Member

Registered: 12th Jan 07
Location: Essex
User status: Offline

22nd Sep 11 at 22:30

i have a fiesta on options which is basically the same except i can buy the car off them, sell it privately or trade in back in after 12 months for a new one.

works well for me. no worrying about stuff going wrong and having to pay for it.

most of these deals are based on 6,000 miles p.a now, mine was but i paid £3 extra a month to raise it up to 9k miles.

this is the 3rd car i've had on the scheme.

Alex_Rally

Member

Registered: 6th Sep 09
Location: Tyne and Wear, gateshead
User status: Offline

23rd Sep 11 at 05:13

i couldnt pay 6k for a car and not own it like, but im a tight git. if u are the kind of person that must have a new car all the time, its a good idea.

whitter45

Member

Registered: 15th Nov 02
Location: Norton
User status: Offline

23rd Sep 11 at 09:14

all depends on residuals of the VXR's now
Cost us just under 3k to have a brand new VXR for 2 years on a PCP

adiohead

Member

Registered: 28th Sep 01
User status: Offline

23rd Sep 11 at 09:19

quote:
Originally posted by geordie_corsa
i couldnt pay 6k for a car and not own it

I would rather take out a loan and buy a car for £6k

mwg

Member

Registered: 19th Feb 04
Location: South Lakes
User status: Offline

23rd Sep 11 at 09:24

what if there is no car you like for 6k?

Ingham

Banned

Registered: 9th May 08
Location: Burnley, Lancashire
User status: Offline

23rd Sep 11 at 09:25

Nothing from Burnley is good.

whitter45

Member

Registered: 15th Nov 02
Location: Norton
User status: Offline

23rd Sep 11 at 09:28

quote:
Originally posted by adiohead

quote:
Originally posted by geordie_corsa
i couldnt pay 6k for a car and not own it

I would rather take out a loan and buy a car for £6k

depends on what your buying,

Car will still depreciate aswell

So you will lose money

Like I say most PCP's dont make sense unless they get very residuals at the end

I sold the VXR for near 11k after 2 years

Spent 5.7k on finance over 24 months. Outstanding Balance was 8k

So made 3k which means we spent only 2.7k in 2 years

adiohead

Member

Registered: 28th Sep 01
User status: Offline

23rd Sep 11 at 09:29

quote:
Originally posted by mwg
what if there is no car you like for 6k?

There's a car I like for 6k.

If I could sell mine for around 5 and had a spare 1 I would buy it.

mwg

Member

Registered: 19th Feb 04
Location: South Lakes
User status: Offline

23rd Sep 11 at 09:35

quote:
Originally posted by adiohead

quote:
Originally posted by mwg
what if there is no car you like for 6k?

There's a car I like for 6k.

If I could sell mine for around 5 and had a spare 1 I would buy it.

Member

Registered: 10th Sep 03
User status: Offline

23rd Sep 11 at 10:14

Make sure you get the mileage right and you're away. It's not too good to be true, if you do the calculations then you're just paying the depreciation of the vehicle, it's a good way of owning a brand new car every 2-3 years. If you go over three years then it seems to defeat the object of it.

Have a look at http://www.lingscars.com/ The website looks weird as fuck, but it's totally legit and a lot cheaper than dealer finance in a lot of cases.

[Edited on 23-09-2011 by ed]

Brett

Premium Member