[Finance] Pcp

Chris_J · 26th April 2008, 12:30

Has anyone on here done PCP at all? I have (well future Sister In Law, who sells Hondas) has found what I want, but I can't really afford to buy outright, but can afford it on the PCP scheme.

I'm just wondering if it's a good idea or not, as the main aim was to reduce my monthly out going, especially with rising fuel and grocery costs and the fact my Merc is only managing 35mpg.

The Honda is a better package, but I'm not sure I can justify £70 extra a month at least to purchase the car. The PCP works out about the same as I'm buying the Merc for.

NH Dan · 26th April 2008, 14:32

Quote:

Originally Posted by Chris_J

Has anyone on here done PCP at all? I have (well future Sister In Law, who sells Hondas) has found what I want, but I can't really afford to buy outright, but can afford it on the PCP scheme.

I'm just wondering if it's a good idea or not, as the main aim was to reduce my monthly out going, especially with rising fuel and grocery costs and the fact my Merc is only managing 35mpg.

The Honda is a better package, but I'm not sure I can justify £70 extra a month at least to purchase the car. The PCP works out about the same as I'm buying the Merc for.

1) Compaing what you spend on the merc including maintenance and running costs, are you at least equal with the Civic if not better off?

2) You said it.

3) £70 extra to what??

4) does that include the running costs, maintenance costs etc? How old is the Merc??

PCP's work incredibly well for some and not so well for others, it effectively puts you in a position to have a car that you wouldn't have been able to afford otherwise (as you've already confirmed), gives you flexibility to change in 2/3yrs time if needs be or stay as you are with the car you like. (you'll end up changing it though lol).

You have the added bonus that as your sister in law is selling it to you, she'll obviously be able to throw in all the bits that get asked for these days too no doubt.

Chris_J · 26th April 2008, 16:54

Well here goes

1) Better off with a Civic. Insurance, Tax (especially next yr) Servicing is cheaper. I should imagine the fuelling is cheaper too.

2) Agreed

well I would say the specs are about equal, but the Honda should be more reliable, although no real issues with the Merc here.

3) £70 over the loan I'm already paying on my current car to purchase the Civic out right.

4) Again the PCP amount is the same as I'm paying on the loan per month but over a shorter term.

Not sure I'll get much thrown in, but what normally gets asked for?

I got an ok discount and half price JDM mats when I bought a my CTR from her.

Robbieee · 26th April 2008, 18:27

I am going for a PCP deal. Completing on monday. Works well for me as i get bonus's throughout the year. Depends on your situation really!

Unknownsoldier · 26th April 2008, 19:39

Never done PCP, but then again it is illegal

Tom

Robbieee · 26th April 2008, 19:43

Quote:

Originally Posted by Unknownsoldier

Never done PCP, but then again it is illegal

Tom

What? Illegal?

FWH · 26th April 2008, 20:02

Quote:

Originally Posted by Robbieee

What? Illegal?

Different type of PCP, which we of course would not discuss here because it is....illegal.

Chris_J · 26th April 2008, 20:17

When you say you get bonuses, Robbie do you mean work or with the PCP?

ghowarth · 26th April 2008, 20:18

I got mine on PCP, I was changing my car every three years and was losing every time I did it, yet I get to that three year point and can't help but get a new car!!
Just over half way through now and not sure how it will work out in the end, but I lost a lot on my last motor, so can't be much worse!

Chris_J · 26th April 2008, 20:35

There is that too, and I could always buy it for the GMFV and sell it on straight away and start again. I wouldn't have too much trouble selling it I guess

Some oil billionaire once said, if it appreciates buy it, if it depreciates rent it.

Are you glad you went PCP? No regrets with it so far? What happens with insurance if say unfortunately, your car got written off?

ghowarth · 26th April 2008, 20:54

No regrets so far, but need to wait until the end of the contract to see how it works out in the end!

I'm hoping not to write it off to be honest...although you never know!
But my Mrs has her C3 on PCP and got it written off by some old jerk at the end of last year, As her car was less than a year old she got a spanking new replacement, so it seems to work ok!!

Unknownsoldier · 26th April 2008, 21:01

Quote:

Originally Posted by Robbieee

What? Illegal?

PCP = Angel Dust, Which I believe is related to Meth Anphetamine (made a US DJ go cannabilistic and eat his mates lungs, while his mate still using them

).

Tom

FWH · 26th April 2008, 21:03

Quote:

Originally Posted by Unknownsoldier

PCP = Angel Dust, Which I believe is related to Meth Anphetamine (made a US DJ go cannabilistic and eat his mates lungs, while his mate still using them

).

Tom

Quote:

Originally Posted by FWH

Different type of PCP, which we of course would not discuss here because it is....illegal.

Let´s stick to the legal stuff.

warmit123 · 26th April 2008, 21:07

Did a PCP with ford several years ago, you've got to be really careful with mileage and bodywork and some other stuff!

Unknownsoldier · 26th April 2008, 21:09

Quote:

Originally Posted by FWH

Let´s stick to the legal stuff.

Ok,

Tom

Chris_J · 26th April 2008, 21:33

Quote:

Originally Posted by warmit123

Did a PCP with ford several years ago, you've got to be really careful with mileage and bodywork and some other stuff!

By the sound of that, you'd never do it again

Azzuri · 26th April 2008, 21:44

I'm on the PCP deal with Honda as well. I've never PCP finance before as the Civic was the first car I've ever bought but it was the only way I could afford the car I actually wanted rather than buy something cheaper and then sit there thinking "Well, this is nice but its no civic"

I guess I won't find out if its good or not for another 2 years and 51 weeks

Robbieee · 26th April 2008, 23:13

Quote:

Originally Posted by Chris_J

When you say you get bonuses, Robbie do you mean work or with the PCP?

Got bonus's with my work...

Chris_J · 28th April 2008, 18:24

What happens at the end of the deal with the trade in? If Honda guarantee x amount and then say well it's worth more than that, do you get the difference towards your next pcp deal or the amount the say it's worth at trade in?

NH Dan · 28th April 2008, 21:08

Quote:

Originally Posted by Chris_J

What happens at the end of the deal with the trade in? If Honda guarantee x amount and then say well it's worth more than that, do you get the difference towards your next pcp deal or the amount the say it's worth at trade in?

you get the balance between what you owe for your final payment (GFV) and what its worth, which you can use towards another deposit or your next holiday.

26th April 2008, 12:30	#1 (permalink)
Chris_J Wheelnut Join Date: 25th April 2008 Location: West Mids Posts: 61	[Finance] Pcp Has anyone on here done PCP at all? I have (well future Sister In Law, who sells Hondas) has found what I want, but I can't really afford to buy outright, but can afford it on the PCP scheme. I'm just wondering if it's a good idea or not, as the main aim was to reduce my monthly out going, especially with rising fuel and grocery costs and the fact my Merc is only managing 35mpg. The Honda is a better package, but I'm not sure I can justify £70 extra a month at least to purchase the car. The PCP works out about the same as I'm buying the Merc for.

26th April 2008, 21:07	#14 (permalink)
warmit123 Valve Cap Join Date: 25th April 2008 Location: Gwent, South Wales Posts: 15	Careful Did a PCP with ford several years ago, you've got to be really careful with mileage and bodywork and some other stuff!

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This thread is about: [Finance] Pcp, it's in Buying, Dealers and Servicing at the Honda Civic forum Civinfo; Has anyone on here done PCP at all? I have (well future Sister In Law, who sells Hondas) has found what I want, but I ...

26th April 2008, 16:54	#3 (permalink)
Chris_J Wheelnut Join Date: 25th April 2008 Location: West Mids Posts: 61	Well here goes 1) Better off with a Civic. Insurance, Tax (especially next yr) Servicing is cheaper. I should imagine the fuelling is cheaper too. 2) Agreed well I would say the specs are about equal, but the Honda should be more reliable, although no real issues with the Merc here. 3) £70 over the loan I'm already paying on my current car to purchase the Civic out right. 4) Again the PCP amount is the same as I'm paying on the loan per month but over a shorter term. Not sure I'll get much thrown in, but what normally gets asked for? I got an ok discount and half price JDM mats when I bought a my CTR from her.

26th April 2008, 18:27	#4 (permalink)
Robbieee Triangular Exhaust Join Date: 27th September 2007 Location: Glasvegas Posts: 297	I am going for a PCP deal. Completing on monday. Works well for me as i get bonus's throughout the year. Depends on your situation really!

26th April 2008, 19:39	#5 (permalink)
Unknownsoldier T'dr'duzk b'hazg t't! Rocketship door handle Join Date: 22nd September 2007 Location: Kent, UK Posts: 1,486	Never done PCP, but then again it is illegal Tom

26th April 2008, 20:17	#8 (permalink)
Chris_J Wheelnut Join Date: 25th April 2008 Location: West Mids Posts: 61	When you say you get bonuses, Robbie do you mean work or with the PCP?

26th April 2008, 20:18	#9 (permalink)
ghowarth Supporter Locking Wheelnut Join Date: 13th February 2008 Location: Aylesbury UK Posts: 106	I got mine on PCP, I was changing my car every three years and was losing every time I did it, yet I get to that three year point and can't help but get a new car!! Just over half way through now and not sure how it will work out in the end, but I lost a lot on my last motor, so can't be much worse!

26th April 2008, 20:35	#10 (permalink)
Chris_J Wheelnut Join Date: 25th April 2008 Location: West Mids Posts: 61	There is that too, and I could always buy it for the GMFV and sell it on straight away and start again. I wouldn't have too much trouble selling it I guess Some oil billionaire once said, if it appreciates buy it, if it depreciates rent it. Are you glad you went PCP? No regrets with it so far? What happens with insurance if say unfortunately, your car got written off?

26th April 2008, 20:54	#11 (permalink)
ghowarth Supporter Locking Wheelnut Join Date: 13th February 2008 Location: Aylesbury UK Posts: 106	No regrets so far, but need to wait until the end of the contract to see how it works out in the end! I'm hoping not to write it off to be honest...although you never know! But my Mrs has her C3 on PCP and got it written off by some old jerk at the end of last year, As her car was less than a year old she got a spanking new replacement, so it seems to work ok!!

26th April 2008, 21:44	#17 (permalink)
Azzuri Supporter Valve Cap Join Date: 17th March 2008 Location: Bristol Posts: 21	I'm on the PCP deal with Honda as well. I've never PCP finance before as the Civic was the first car I've ever bought but it was the only way I could afford the car I actually wanted rather than buy something cheaper and then sit there thinking "Well, this is nice but its no civic" I guess I won't find out if its good or not for another 2 years and 51 weeks

28th April 2008, 18:24	#19 (permalink)
Chris_J Wheelnut Join Date: 25th April 2008 Location: West Mids Posts: 61	What happens at the end of the deal with the trade in? If Honda guarantee x amount and then say well it's worth more than that, do you get the difference towards your next pcp deal or the amount the say it's worth at trade in?