Warren G
Member
Registered: 14th May 06
Location: Kent
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its people like you they clearly market for!
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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We have our car on a PCP and it's costing less a month than we were paying to keep the old car running!
Having sold cars for a few years (not any more mind), PCP is the way forward if you plan on changing every 3 years. You aren't risking depreciation with your own money, but with the manufacturers.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by mwg
quote:
Originally posted by Ben J
quote:
Originally posted by mwg
My point still stands anyway, 4k less to lease...
£4k less with nothing to show for it after 3 years???
why do you want to own the car if you are changing it every 3 years? You pay the full price for the exact same thing someone leasing at less cost does
[Edited on 17-09-2010 by mwg]
Beacuse if you own it you will get more back for it at the end of the term than the dealer will offer you. 
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John
Member
Registered: 30th Jun 03
User status: Offline
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None of these betetr off leasing figures apply here, it's much worse leasing this exact corsa than buying it.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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quote:
Originally posted by A2H GO
quote:
Originally posted by mwg
quote:
Originally posted by Ben J
quote:
Originally posted by mwg
My point still stands anyway, 4k less to lease...
£4k less with nothing to show for it after 3 years???
why do you want to own the car if you are changing it every 3 years? You pay the full price for the exact same thing someone leasing at less cost does
[Edited on 17-09-2010 by mwg]
Beacuse if you own it you will get more back for it at the end of the term than the dealer will offer you.
yes but its cost you more?
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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quote:
Originally posted by John
None of these betetr off leasing figures apply here, it's much worse leasing this exact corsa than buying it.
So what happens if/when the market dips more than expected and you own it outright. The whole basis of a PCP is that if this happens you hand it back after 3 years. It is the manufacturer that will lose the money not you.
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John
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Registered: 30th Jun 03
User status: Offline
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At the end of the 3 years you own nothing on PCP, at the end of the 3 years you own it all if you bought it.
Unless it was worth under 2k, which it won't be, he's at least just as well off, plus has a car.
Actually he can't possibly be worse off, eevn if the car was worth 0 pence he'd still have a car, whhich he doesn't with PCP.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by mwg
quote:
Originally posted by A2H GO
quote:
Originally posted by mwg
quote:
Originally posted by Ben J
quote:
Originally posted by mwg
My point still stands anyway, 4k less to lease...
£4k less with nothing to show for it after 3 years???
why do you want to own the car if you are changing it every 3 years? You pay the full price for the exact same thing someone leasing at less cost does
[Edited on 17-09-2010 by mwg]
Beacuse if you own it you will get more back for it at the end of the term than the dealer will offer you.
yes but its cost you more?
Not as much more though:
Take this Corsa deal for example.
PCP
Car Price: £9500
Deposit: £627
Payments: £209 x 36 = £7524
Total cost £8151
Then after 3 years you give the car back and left with nothing.
Loan
Car Price: £9500
Deposit: £627
Loan for £8873(Price minus deposit) = £294pm over 3 years(Natwest 12.9%)
Total Cost £9500
Then after 3 years you own a car worth say £4000.
So by paying an extra £1400 you get £4000.
[Edited on 17-09-2010 by A2H GO]
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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quote:
Originally posted by John
At the end of the 3 years you own nothing on PCP, at the end of the 3 years you own it all if you bought it.
Unless it was worth under 2k, which it won't be, he's at least just as well off, plus has a car.
Actually he can't possibly be worse off, eevn if the car was worth 0 pence he'd still have a car, whhich he doesn't with PCP.
At the end of 3 years with a PCP the worst case scenario is you break even. You may well have equity. Buying the car outright, after 3 years the worst case scenario is it is worth ££££'s less than the guaranteed value of a PCP.
Yes he has a car but that is just changing the boundaries of what is being discussed. A PCP will generally match depreciation so after 3 years you could be in a far better position taking a PCP. Plus there is the added security of having your own money in a savings account accruing interest, which would be available for an emergency.
[Edited on 17-09-2010 by Pop]
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Pop
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Registered: 8th May 03
Location: Reading
User status: Offline
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PCP's were actually such a good deal for the customer that they were costing Vauxhall too much money and they stopped doing them for approximately 2 years recently.
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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quote:
Originally posted by A2H GO
quote:
Originally posted by mwg
quote:
Originally posted by A2H GO
quote:
Originally posted by mwg
quote:
Originally posted by Ben J
quote:
Originally posted by mwg
My point still stands anyway, 4k less to lease...
£4k less with nothing to show for it after 3 years???
why do you want to own the car if you are changing it every 3 years? You pay the full price for the exact same thing someone leasing at less cost does
[Edited on 17-09-2010 by mwg]
Beacuse if you own it you will get more back for it at the end of the term than the dealer will offer you.
yes but its cost you more?
Not as much more though:
Take this Corsa deal for example.
PCP
Car Price: £9500
Deposit: £627
Payments: £209 x 36 = £7524
Total cost £8151
Then after 3 years you give the car back and left with nothing.
Loan
Car Price: £9500
Deposit: £627
Loan for £8873(Price minus deposit) = £294pm over 3 years(Natwest 12.9%)
Total Cost £9500
Then after 3 years you own a car worth say £4000.
So by paying an extra £1400 you get £4000.
[Edited on 17-09-2010 by A2H GO]
You are missing some major fundemental bits from your working out. With only about 2 mins left of lunch I haven't got time to explain now. Will update later if you are interested.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by Pop
PCP's were actually such a good deal for the customer that they were costing Vauxhall too much money and they stopped doing them for approximately 2 years recently.
Vauxhall just don't make as much money though the PCP scheme, that still doesn't make it a 'good' deal for the customer. As pointed out about, there are better deals out there.
Even if you did go down the PCP route, doing this on a Vauxhall's still not a good idea. At least on a Mini/BMW/Audi you might have a bit of positive equity after the 3 years, whereas a Vauxhall 
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by Pop
quote:
Originally posted by A2H GO
quote:
Originally posted by mwg
quote:
Originally posted by A2H GO
quote:
Originally posted by mwg
quote:
Originally posted by Ben J
quote:
Originally posted by mwg
My point still stands anyway, 4k less to lease...
£4k less with nothing to show for it after 3 years???
why do you want to own the car if you are changing it every 3 years? You pay the full price for the exact same thing someone leasing at less cost does
[Edited on 17-09-2010 by mwg]
Beacuse if you own it you will get more back for it at the end of the term than the dealer will offer you.
yes but its cost you more?
Not as much more though:
Take this Corsa deal for example.
PCP
Car Price: £9500
Deposit: £627
Payments: £209 x 36 = £7524
Total cost £8151
Then after 3 years you give the car back and left with nothing.
Loan
Car Price: £9500
Deposit: £627
Loan for £8873(Price minus deposit) = £294pm over 3 years(Natwest 12.9%)
Total Cost £9500
Then after 3 years you own a car worth say £4000.
So by paying an extra £1400 you get £4000.
[Edited on 17-09-2010 by A2H GO]
You are missing some major fundemental bits from your working out. With only about 2 mins left of lunch I haven't got time to explain now. Will update later if you are interested.
You're probs right i just typed that up quickly at work and did the calcs in my head so its prob's miles out. 
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
User status: Offline
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going mad here who wants to sort this out over a lovely kiss
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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quote:
Originally posted by whitter45
PCP is ideal when looking at depreciation when you definitely want a brand new car
But cars like that (small, economical hatch-backs) dont depreciate like for example a BMW 330 or something stupid like that.
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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quote:
Originally posted by A2H GO
At least on a Mini/BMW/Audi you might have a bit of positive equity after the 3 years, whereas a Vauxhall
You;'ve got it TOTALLY wrong.. It doesnt matter what the brand is its a CHEAP car to run and they always hold their money better than something bigger. You could sell 10 Corsa 1.3cdti's in the amount of time it took to shift one big petrol engined Audi/BMW etc...
It can make sense to lease big saloons etc. but it makes no sense to lease a car like this.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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quote:
Originally posted by Steve
going mad here who wants to sort this out over a lovely kiss
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by DaveyLC
quote:
Originally posted by A2H GO
At least on a Mini/BMW/Audi you might have a bit of positive equity after the 3 years, whereas a Vauxhall
You;'ve got it TOTALLY wrong.. It doesnt matter what the brand is its a CHEAP car to run and they always hold their money better than something bigger. You could sell 10 Corsa 1.3cdti's in the amount of time it took to shift one big petrol engined Audi/BMW etc...
It can make sense to lease big saloons etc. but it makes no sense to lease a car like this.
I went to both Mini and Vauxahall when looking at PCP, just about every deal Vaux presented me with ended just breaking even whereas all the Mini deals i came away with at least 2k equity on the same price car.
Everyone knows some 'brands' depreciate less than others.
I didn't go for any though.
[Edited on 17-09-2010 by A2H GO]
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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The brand is only one part of it.. The type of car is more important when it comes to the resale value relative to the purchase cost.
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SetH
Member
Registered: 15th Jul 01
User status: Offline
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Jesus, Joseph and Mary Doggy style this really is the only cunting car forum on the entire interwebz that does not get the concept and benefits of leasing.
Sure its not for everyone but some ridiculous statements in this thread TBH.
Try some of your own cost/benefit analysis instead of just looking at the surface of it you orangapoontangs 
[Edited on 17-09-2010 by SetH]
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by DaveyLC
The brand is only one part of it.. The type of car is more important when it comes to the resale value relative to the purchase cost.
In this climate yes, obviously a 1.3 diesel corsa isn't going to loose as much as a BMW M5 but you're not comparing like for like in those scenarios.
Compare a VXR 8 and a 135i M Sport, purely as they are about the same price new and the Vaux will still be worth less after 3 years.
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Nath
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Registered: 3rd Apr 02
Location: MK
User status: Offline
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Has anybody bothered to tell Ojc that this deal isn't that good? I've only skimmed the thread.
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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quote:
Originally posted by A2H GO
Compare a VXR 8 and a 135i M Sport, purely as they are about the same price new and the Vaux will still be worth less after 3 years.
VXR 8 = £35k
135i M = £30k
Cheapest on piston heads (traders).
Cheapest 08 plate VXR8 = £18k (51.5%)
Cheapest 08 Plate 135M = £17k (56.7%)
So 4% overall.. Not exactly mind blowing
[Edited on 17-09-2010 by DaveyLC]
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John
Member
Registered: 30th Jun 03
User status: Offline
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The VXR 8 probably didn't cost anywhere near 35k to begin with either.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by DaveyLC
quote:
Originally posted by A2H GO
Compare a VXR 8 and a 135i M Sport, purely as they are about the same price new and the Vaux will still be worth less after 3 years.
VXR 8 = £35k
135i M = £30k
Cheapest on piston heads (traders).
Cheapest 08 plate VXR8 = £18k (51.5%)
Cheapest 08 Plate 135M = £17k (56.7%)
So 4% overall.. Not exactly mind blowing
[Edited on 17-09-2010 by DaveyLC]
So you pay £5000 more for the car and after 3 years its only worth £1000 more. 
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