pcp car deals

[hoolahoop]

PCP is not a good way of financing a car. It is only any good for someone that has money to burn and is too lazy to put some effort into buying a car.

If you part exchange your car which is what most people do then you have already lost out. You'd get much more for your car selling privately than you ever would in part exchange.

The upfront cost of a car will be higher than it would be if you paid cash or used a 0% credit card and larger deposit or combination of these options.

You will normally pay interest on one of these deals. Typically about 5% APR. This will typically add more than £1000 to the cost of the car.

The price you will get at the end of the deal will be typically be at the very lowest end. You'd get much more selling privately.

To summarise. You pay more for the car at the start of the deal than if you bought it outright. You pay interest. You get a crap part exchange deal. You're tied into having that car for 3 years or there are financial penalties. At the end of the deal they offer you a crap price for the car.

Typically you then get another overpriced car using the one you've just had as deposit that they've given you a crap price on!

However the best advice would be to get a nearly new car. Buying brand new is also not very sensible financially due to the huge depreciation as soon as you drive away from the dealer's forecourt.

Typical example:

Car £14,600 list price.
Deposit £4,400
3 years finance £6768
Dealer value of car after 3 years £4,400
Loss, accepting a crap price to renew the deal £4000

So after 3 years with what you've paid out and what you've lost on the crap price given at the end of the deal to carry on you're actual monthly cost is £421.33 per month. That totals out at £15,168.

So in effect you've paid more than the list price and have no value left in the car.

If you bought cash you'd probably get at least a 10% discount. So £13,140 cost of car. You'd probably be able to sell the car privately for about £8,400. So if you take 8,400 from 13,140 you get 4,740. This is the actual cost of the car over 3 years. Divide £4,740 by 36 and the monthly equivalent cost is £131.66 per month.

As you can see, it is a no-brainer to avoid PCP deals like the plague.

Sir you are a complete numpty . OK you get this supposed crap p/ex deal and say you need to settle up the Guaranteed future value of let's say £4000 at the end of the agreement and you only get offered £4000 (the absolute minimum you can be offered BTW) and you get offered £5000 for a one-off purchase elsewhere what would you do " font of all wisdom" ? Don't worry I will save you the bother you pocket this extra money and send the cheque off to the finance house for £4000.
Yes you've got it you're £1000 to the good given your negative example and free to shop on the open market .

Jeez I wished you had walked into my showroom ; I would have used your own stupidity against you and made a fortune. We love numpties like you.

[hoolahoop]

There is no such thing as a reputable garage. They are all out to get as much money out of you as possible using every trick in the book.

another post that proves you talk a load of shite 

Oh dear. Sounds like someone's been the victim of a PCP miss selling scandal and has only just realised it. I bet the car salesmen love it when they see you approaching. I tend to have the opposite effect on salesmen. You can see the colour draining from their faces as I approach as they know if a deal is done they will have been screwed into the ground.

Challenge. Anyone on a PCP deal put your details on this thread and I will demonstrate how much of a mug you've been taken for. On the other hand it would also give you the opportunity to prove to everyone you've got a cracking deal and I'm speaking cobblers.

Over to you (but I'm not holding my breath there will be any takers).

I'm in the trade. Do have sufficient savings and am on my 11th personal PCP deal . what is it with you ? Car salesman walking around like zombies because you're in their showroom  ; they just think you are an argumentative knob jockey who quite clearly hasn't got a fecking clue what you are talking about. Again another subject that I would suggest you keep well away from as you aren't sufficiently knowledgeable,........once again .

[hoolahoop]

The ALL important words in a PCP finance agreement are "Guaranteed Manufacturer's  future Value" - in other words you can't be offered a crap p/ex value LESS than that ' deferred ' (if you like) when the original finance agreement was set up. Dagenham Rover has already explained to you that he continually upgrades ' for the same/similar monthly payment without further deposits.

Yes you've guessed it folks - its because they want his business, want his car back for their forecourt and want to increase market share if at all possible without spending absolute fortunes chasing HIS business time and time again .

Something else missing from your scenario IC 1967 that would not be available to a ' hard- nosed'  cash customer like you would be the 'finance deposit allowance' generally now available on really low or indeed 0 % Apr loan deals. Yes you've guessed it again - they kinda want to buy your business again. That money definitely ISN'T available to a cash customer like you .

There you are '1967' having paid more for your car as a cash customer, looking around for someone willing to buy your car and having to pay for the 3rd service yourself ( not usually paid for on a pcp deal) . You have no guarantees whatsoever.  - Don't peddle your wares to loads of folk on here that NEED to budget month to month and haven't got all these 0% and such cards like you.

You make me angry as you are ill-informed on this as you are on many other subjects. 

[GazLaz]

Why would a business introduce a scheme to do themselves out of money? It's like the "cash out" bookmakers offer, just another way of making them a bit of %.

[IC1967]

Hoola. I've not got much time at the moment to respond to your sales spiel. Rest assured I will. For now though why did you ignore my Mazda example where I proved that 0% interest is nothing of the kind?

[Rios]

Filo's pretty accurate in his summary.  Dealers love PCP, hate cash buyers.  Getting someone on a PCP and fully up with extras like Gap is a salesman's wet dream.  It will get you into a car which looks cheap to start with, that you will realistically never own because of the balloon payment at the the end and you need to be really careful on mileage restrictions especially if you're doing more than the average.

Rios you are entirely wrong and that,'s the reason why inscrutable or at best very dodgy small garages or chains for that matter will do their best to swerve their customers well away from them.

I'm a car salesman and I take exception to the way you cast my industry in such a bad light   BTW you are just plain wrong and you were probably told that by a salesman who neither understands the product or thought he could make some money out of you peddling such crap.

As a final word , the customer has the right to set their own mileage restrictions at the outset. It is obvious that if the dealer assumes that you will do 30k over 3 years and you bring the car back to him with 50k on the clock then it has a lower value !!

I also work in the trade, but not on the sales floor.  I will take you at your word that you and your employers are a shining beacon and treat your customers properly and structure their deals properly and affordably.  Unfortunately I've worked and contracted for far too many dealer groups to know that a lot of them don't and if it's a choice between doing what's right for the customer (as you're doing) and doing what's going to make the most profit for the dealer (and most bonus for the sales exec and BM) even if it gets a customer in a deal that's not right for them, then it will normally be the latter.

p.s. can't believe you're a car salesmen... you "were" one of the people I respected on here!   

[IC1967]

PCP is not a good way of financing a car. It is only any good for someone that has money to burn and is too lazy to put some effort into buying a car.

If you part exchange your car which is what most people do then you have already lost out. You'd get much more for your car selling privately than you ever would in part exchange.

The upfront cost of a car will be higher than it would be if you paid cash or used a 0% credit card and larger deposit or combination of these options.

You will normally pay interest on one of these deals. Typically about 5% APR. This will typically add more than £1000 to the cost of the car.

The price you will get at the end of the deal will be typically be at the very lowest end. You'd get much more selling privately.

To summarise. You pay more for the car at the start of the deal than if you bought it outright. You pay interest. You get a crap part exchange deal. You're tied into having that car for 3 years or there are financial penalties. At the end of the deal they offer you a crap price for the car.

Typically you then get another overpriced car using the one you've just had as deposit that they've given you a crap price on!

However the best advice would be to get a nearly new car. Buying brand new is also not very sensible financially due to the huge depreciation as soon as you drive away from the dealer's forecourt.

Typical example:

Car £14,600 list price.
Deposit £4,400
3 years finance £6768
Dealer value of car after 3 years £4,400
Loss, accepting a crap price to renew the deal £4000

So after 3 years with what you've paid out and what you've lost on the crap price given at the end of the deal to carry on you're actual monthly cost is £421.33 per month. That totals out at £15,168.

So in effect you've paid more than the list price and have no value left in the car.

If you bought cash you'd probably get at least a 10% discount. So £13,140 cost of car. You'd probably be able to sell the car privately for about £8,400. So if you take 8,400 from 13,140 you get 4,740. This is the actual cost of the car over 3 years. Divide £4,740 by 36 and the monthly equivalent cost is £131.66 per month.

As you can see, it is a no-brainer to avoid PCP deals like the plague.

Sir you are a complete numpty . OK you get this supposed crap p/ex deal and say you need to settle up the Guaranteed future value of let's say £4000 at the end of the agreement and you only get offered £4000 (the absolute minimum you can be offered BTW) and you get offered £5000 for a one-off purchase elsewhere what would you do " font of all wisdom" ? Don't worry I will save you the bother you pocket this extra money and send the cheque off to the finance house for £4000.
Yes you've got it you're £1000 to the good given your negative example and free to shop on the open market .

Jeez I wished you had walked into my showroom ; I would have used your own stupidity against you and made a fortune. We love numpties like you.

How do you square your comment that you are an honourable salesman (and your fellow salesmen) with your customer's best interests at heart with the above statement I've highlighted in bold? I think you have been damned from your own mouth. Now if you were truly looking after the customer's best interests you would patiently explain the error of their ways instead of relishing the opportunity to 'make a fortune' out of them. The fact you refer to them as numpties says it all. The reality of the situation is that you and your fellow salesmen see it all as a game. The objective of the game is to part the unsuspecting numpty from as much money as possible so you and your mates can earn as much money as possible. The customer's best interests don't come into it.

Well I'll tell you something. When I walk into a car showroom they know they've more than met their match. It's just a shame that there is probably only about 1% of the population that can hold their own against the likes of you.

[hoolahoop]

Why would a business introduce a scheme to do themselves out of money? It's like the "cash out" bookmakers offer, just another way of making them a bit of %.

Because they want to make little and often from the same customer. If you like it is comparable in that particular bookmakers would want you to gamble with them instead of other bookies.

Gaz if it's 0 % and some money towards your deposit it usually means that on low or 0 % deals ; the total amount payable is far less than if you paid for the car by cash or by borrowing elsewhere. Either way there is a personal cost involved . You are looking for a catch that isn't there ; when times are hard a perceived but not necessarily fully committed customer allows volume companies to cut down on their advertising costs and the trawling that individuals within a group have to beaver away at to maintain any form of customer loyalty. Now if the APR's are high or higher than conventional Hire Purchase or cash then PCPs won't work for an individual.
Earlier in the thread it was suggested that you never really own your car...............why would you want to  ?

[hoolahoop]

PCP is not a good way of financing a car. It is only any good for someone that has money to burn and is too lazy to put some effort into buying a car.

If you part exchange your car which is what most people do then you have already lost out. You'd get much more for your car selling privately than you ever would in part exchange.

The upfront cost of a car will be higher than it would be if you paid cash or used a 0% credit card and larger deposit or combination of these options.

You will normally pay interest on one of these deals. Typically about 5% APR. This will typically add more than £1000 to the cost of the car.

The price you will get at the end of the deal will be typically be at the very lowest end. You'd get much more selling privately.

To summarise. You pay more for the car at the start of the deal than if you bought it outright. You pay interest. You get a crap part exchange deal. You're tied into having that car for 3 years or there are financial penalties. At the end of the deal they offer you a crap price for the car.

Typically you then get another overpriced car using the one you've just had as deposit that they've given you a crap price on!

However the best advice would be to get a nearly new car. Buying brand new is also not very sensible financially due to the huge depreciation as soon as you drive away from the dealer's forecourt.

Typical example:

Car £14,600 list price.
Deposit £4,400
3 years finance £6768
Dealer value of car after 3 years £4,400
Loss, accepting a crap price to renew the deal £4000

So after 3 years with what you've paid out and what you've lost on the crap price given at the end of the deal to carry on you're actual monthly cost is £421.33 per month. That totals out at £15,168.

So in effect you've paid more than the list price and have no value left in the car.

If you bought cash you'd probably get at least a 10% discount. So £13,140 cost of car. You'd probably be able to sell the car privately for about £8,400. So if you take 8,400 from 13,140 you get 4,740. This is the actual cost of the car over 3 years. Divide £4,740 by 36 and the monthly equivalent cost is £131.66 per month.

As you can see, it is a no-brainer to avoid PCP deals like the plague.

Sir you are a complete numpty . OK you get this supposed crap p/ex deal and say you need to settle up the Guaranteed future value of let's say £4000 at the end of the agreement and you only get offered £4000 (the absolute minimum you can be offered BTW) and you get offered £5000 for a one-off purchase elsewhere what would you do " font of all wisdom" ? Don't worry I will save you the bother you pocket this extra money and send the cheque off to the finance house for £4000.
Yes you've got it you're £1000 to the good given your negative example and free to shop on the open market .

Jeez I wished you had walked into my showroom ; I would have used your own stupidity against you and made a fortune. We love numpties like you.

How do you square your comment that you are an honourable salesman (and your fellow salesmen) with your customer's best interests at heart with the above statement I've highlighted in bold? I think you have been damned from your own mouth. Now if you were truly looking after the customer's best interests you would patiently explain the error of their ways instead of relishing the opportunity to 'make a fortune' out of them. The fact you refer to them as numpties says it all. The reality of the situation is that you and your fellow salesmen see it all as a game. The objective of the game is to part the unsuspecting numpty from as much money as possible so you and your mates can earn as much money as possible. The customer's best interests don't come into it.

Well I'll tell you something. When I walk into a car showroom they know they've more than met their match. It's just a shame that there is probably only about 1% of the population that can hold their own against the likes of you.

It's only the like's of you that I would think of in such a way because you deliberately cast me and my colleagues in a bad light. You are wrong I wouldn't actually steer you in the wrong direction...you would do that by yourself. Why would you need my help ?
Why would you come into a showroom and deliberately try to be so obtuse, would you do that elsewhere ? You still remain a numpty and being deliberately awkward in car showrooms would certainly not endear you to me or any other person that I know of.
Whatever method of payment shown to you good or bad would have you ready for a battle , am I right ?

I remember having a customer , perhaps 3 years ago now , who thought it far cleverer and cheaper to release equity from his property to pay for his car than pay 3.9% apr over 3 years . I doubt you've guessed it yet but the man in question was a .........personal financial advisor ! It beggars believe and I hope the fella in question wasn't you ?

Btw I do ''patiently'' explain to people how to achieve the best option for their own particular circumstances but the words would be wasted on you . Usually you would be chasing the 'full tank of fuel' rather than listening to trained and informed people like me , you wouldn't listen you would be far too busy espousing your preconceived and ill informed nonsense to me. 

[GazLaz]

You'd want to own one so you didn't have a bill to pay every month perhaps.

[IC1967]

There is so much drivel espoused by Hoola I don't know where to start. I'm going to have to take it apart in small chunks when I've got time.

Right, I notice you haven't yet responded to my Mazda example. I'd be grateful if you could and then we can move on to other issues that need clarifying before more unfortunate souls are parted form their money.

[hoolahoop]

IC1967 just a point about being ripped off on your part exchange offers. There are a number of areas that perhaps you've never considered :-

1) Dealerships rarely if ever actively try to persuade customers to part exchange their car. In other words you aren't obliged to.

2) If they do it generally means they need your car for stocking purposes and will pay a premium rather than a 'rip off' price to get it. Yes it costs money to both purchase and refurbish cars for their used car pitch. If your car is one they want/need they will pay a premium.

3) You are NEVER obliged to part exchange a car as part of a deal even if it's included upto the collection date of your new car.

4) It is far easier to negotiate with you if the main area of contention i.e. the value of your existing car is removed from the equation. Dealerships won't treat you any differently.

5) Generally dealerships replenish their stocks of used cars wherever possible from existing customer's part exchanges i.e. cars they know the history of and serviced by them. This way they can prepare part exchanges far more quickly for sale. Time is money.

6) Sales managers with high or even positive trade car profits rarely keep their jobs for very long. It means they are very probably undervaluing cars and therefore allowing business to walk from their showrooms. Customers walking away mean wasted opportunities for sales and of course profit. Hmmm and hours of 'wasted' time by staff.

[hoolahoop]

You'd want to own one so you didn't have a bill to pay every month perhaps.

Then you can Gaz , merely pay the money off at the end. If the market value is higher for your car then you are quids in or as you say find the money from another source which again it is hoped that the costs aren't prohibitive. Perhaps you have a rich relative ? Money taken from your own accounts could have been making you a marginal profit in interest ?

[hoolahoop]

There is so much drivel espoused by Hoola I don't know where to start. I'm going to have to take it apart in small chunks when I've got time.

Right, I notice you haven't yet responded to my Mazda example. I'd be grateful if you could and then we can move on to other issues that need clarifying before more unfortunate souls are parted form their money.

You are one argumentative mf, I might get back to your daft Mazda example later as there are so many variables in it. Do you usually treat folk in this manner because I can already see I am wasting both words and time on you ?

 I wouldn't usually persevere with a person like you on a 'one to one' basis so I see no point in debating further with you on a public forum. You NEVER EVER concede a point however foolish  you are or are shown to be ! Think before you spout.

Anyone wanting to genuinely ask a question to me about PCPs then please do so by pm and I will try to help or explain the methodology behind the system.

[IC1967]

IC1967 just a point about being ripped off on your part exchange offers. There are a number of areas that perhaps you've never considered :-

1) Dealerships rarely if ever actively try to persuade customers to part exchange their car. In other words you aren't obliged to.

2) If they do it generally means they need your car for stocking purposes and will pay a premium rather than a 'rip off' price to get it. Yes it costs money to both purchase and refurbish cars for their used car pitch. If your car is one they want/need they will pay a premium.

3) You are NEVER obliged to part exchange a car as part of a deal even if it's included upto the collection date of your new car.

4) It is far easier to negotiate with you if the main area of contention i.e. the value of your existing car is removed from the equation. Dealerships won't treat you any differently.

5) Generally dealerships replenish their stocks of used cars wherever possible from existing customer's part exchanges i.e. cars they know the history of and serviced by them. This way they can prepare part exchanges far more quickly for sale. Time is money.

6) Sales managers with high or even positive trade car profits rarely keep their jobs for very long. It means they are very probably undervaluing cars and therefore allowing business to walk from their showrooms. Customers walking away mean wasted opportunities for sales and of course profit. Hmmm and hours of 'wasted' time by staff.

 The drivel is mounting up. It's a huge job for me to go through it all. Please start with my Mazda question instead of constantly ignoring it. Then we can move the debate on.

[Filo]

IC1967 just a point about being ripped off on your part exchange offers. There are a number of areas that perhaps you've never considered :-

1) Dealerships rarely if ever actively try to persuade customers to part exchange their car. In other words you aren't obliged to.

2) If they do it generally means they need your car for stocking purposes and will pay a premium rather than a 'rip off' price to get it. Yes it costs money to both purchase and refurbish cars for their used car pitch. If your car is one they want/need they will pay a premium.

3) You are NEVER obliged to part exchange a car as part of a deal even if it's included upto the collection date of your new car.

4) It is far easier to negotiate with you if the main area of contention i.e. the value of your existing car is removed from the equation. Dealerships won't treat you any differently.

5) Generally dealerships replenish their stocks of used cars wherever possible from existing customer's part exchanges i.e. cars they know the history of and serviced by them. This way they can prepare part exchanges far more quickly for sale. Time is money.

6) Sales managers with high or even positive trade car profits rarely keep their jobs for very long. It means they are very probably undervaluing cars and therefore allowing business to walk from their showrooms. Customers walking away mean wasted opportunities for sales and of course profit. Hmmm and hours of 'wasted' time by staff.

 The drivel is mounting up. it's a huge job for me to go through it all. Please start with my Mazda question instead of constantly ignoring it. Then we can move the debate on.

You've been ripped off buying a Mazda haven't you?

[IC1967]

IC1967 just a point about being ripped off on your part exchange offers. There are a number of areas that perhaps you've never considered :-

1) Dealerships rarely if ever actively try to persuade customers to part exchange their car. In other words you aren't obliged to.

2) If they do it generally means they need your car for stocking purposes and will pay a premium rather than a 'rip off' price to get it. Yes it costs money to both purchase and refurbish cars for their used car pitch. If your car is one they want/need they will pay a premium.

3) You are NEVER obliged to part exchange a car as part of a deal even if it's included upto the collection date of your new car.

4) It is far easier to negotiate with you if the main area of contention i.e. the value of your existing car is removed from the equation. Dealerships won't treat you any differently.

5) Generally dealerships replenish their stocks of used cars wherever possible from existing customer's part exchanges i.e. cars they know the history of and serviced by them. This way they can prepare part exchanges far more quickly for sale. Time is money.

6) Sales managers with high or even positive trade car profits rarely keep their jobs for very long. It means they are very probably undervaluing cars and therefore allowing business to walk from their showrooms. Customers walking away mean wasted opportunities for sales and of course profit. Hmmm and hours of 'wasted' time by staff.

 The drivel is mounting up. it's a huge job for me to go through it all. Please start with my Mazda question instead of constantly ignoring it. Then we can move the debate on.

You've been ripped off buying a Mazda haven't you?

Hahaha! I've used them as they purport to offer 0% finance. A car salesman would have to get up before he went to bed to put one over on me. There is no way on this earth that I would ever get ripped off. The last time I bought a car I went to the local dealership to give them the chance of matching the deal I'd agreed. I prefer to do my bit to help the local economy. They couldn't get anywhere near what I'd negotiated. They were thousands out for exactly the same car compared to what a dealership in London was offering.

The salesman told me that it was a good job all customers weren't as clued up as me or they'd soon be out of business!

[IC1967]

There is so much drivel espoused by Hoola I don't know where to start. I'm going to have to take it apart in small chunks when I've got time.

Right, I notice you haven't yet responded to my Mazda example. I'd be grateful if you could and then we can move on to other issues that need clarifying before more unfortunate souls are parted form their money.

You are one argumentative mf, I might get back to your daft Mazda example later as there are so many variables in it. Do you usually treat folk in this manner because I can already see I am wasting both words and time on you ?

 I wouldn't usually persevere with a person like you on a 'one to one' basis so I see no point in debating further with you on a public forum. You NEVER EVER concede a point however foolish  you are or are shown to be ! Think before you spout.

Anyone wanting to genuinely ask a question to me about PCPs then please do so by pm and I will try to help or explain the methodology behind the system.

I see. You are scared of what I might ask you. Join the club. Right I'll just have to put the other side of the argument without your input.

[IC1967]

Right. First things first. Don't just rely on what the dealer is offering you. It's a competitive market out there so make sure you find out what is available from other dealers (not just the ones in your home town). Secondly have you got any savings? If not, why not? It is usually best to use savings than to do any form of borrowing.

Right. You could get a personal loan from the dealer if you've been naughty and not got any savings. You can also get this type of loan from a bank. Compare your dealer's rate to the lowest on the market (use the internet). Currently 3.6% is the best available from a bank.

The alternative to this is hire purchase. This type of loan is secured against your car so the car finance company could repossess it to help pay off the debt if you can't pay it. They will still go after you if the proceeds of the repossessed car is not enough to pay off the debt.

To compare which is the best for you compare the APR of each deal. Go for the lower APR.

Then we get to PCP. This is only available from a dealer. You pay a deposit of varying sizes then pay lower monthly amounts than with the personal loan or HP agreement. Usually for 2 or 3 years. By the end of the deal you've usually paid about two thirds of the cost of the car. You then have a decision to make. You can hand the car back, make a one off payment to 'buy' the car or trade it in and start a new deal (not necessarily with the same dealer or manufacturer). So PCP is like leasing but you get the chance to own the car as well (leasing is like renting a car). Because most people that get PCP end up not keeping the car, it's worth also looking at lease deals.

If you've got a decent credit score and the dealer takes credit cards then buying a car on a 0% credit card can be a cheaper way of buying. You must be able to pay the money off within the 0% period and have a big enough credit limit to pay for the car. There are deals out there at the moment where you can get 20 months O% on purchases. I bet Hoola and his mates don't point this out to their unsuspecting victims. Even if you don't pay for the whole car using a credit card it is worth paying the deposit on it. If anything goes wrong, the credit card company has to help you put things right. This is useful if the dealer won't. I bet Hoola and his mates don't tell you this.

The best way to buy a car is to use savings then get a loan and/or use the 0% credit cards to make up the difference if you have to. PCP should only be considered if you don't have savings and have a poor credit rating and aren't set on owning the car. Leasing should also be considered if this is you.

More to come later.

[Filo]

I doubt any credit card company would give you new card with enough credit to purchase a new car outright.

Shot down in flames!

Next!

[redbrez]

PM you Hoola

[IC1967]

I doubt any credit card company would give you new card with enough credit to purchase a new car outright.

Shot down in flames!

Next!

Excuse me. I have a number of credit cards with a limit of at least £20,000. I doubt many people could buy a car outright on a credit card like what I could but they should be able to at least put down a deposit on one. A very useful tactic if you fall out with your dealer.

[Filo]

I doubt any credit card company would give you new card with enough credit to purchase a new car outright.

Shot down in flames!

Next!

Excuse me. I have a number of credit cards with a limit of at least £20,000. I doubt many people could buy a car outright on a credit card like what I could but they should be able to at least put down a deposit on one. A very useful tactic if you fall out with your dealer.

I'm not listening to your point, it doesn't fit in with mine.

Game set and match

Make an abject apology and we'll say no more about it!

[IC1967]

So back to the pros and cons of finance.

A personal loan is not secured on the car so they can't take it off you if you go into arrears. This type of loan can be hard to get if you don't have a good credit rating.

Credit cards provide added Section 75 protection. Do it the right way and you can borrow for free. It's hard to get a big enough credit limit to buy a car outright unless you're me of course.

With HP you own the car after you've made all the payments. The monthly repayments are higher and the finance company can repossess the car.

PCP allows cheaper monthly payments. You don't own the car unless you make a 'balloon' payment at the end of the deal. It's generally more expensive than HP if you want to own the car.

Leasing can be a cheaper option than PCP and maintenance of the car is often included. Should definitely be looked at if you don't want to own the car.

More later.

[IC1967]

I doubt any credit card company would give you new card with enough credit to purchase a new car outright.

Shot down in flames!

Next!

Excuse me. I have a number of credit cards with a limit of at least £20,000. I doubt many people could buy a car outright on a credit card like what I could but they should be able to at least put down a deposit on one. A very useful tactic if you fall out with your dealer.

I'm not listening to your point, it doesn't fit in with mine.

Game set and match

Make an abject apology and we'll say no more about it!

Hahahaha!

[glosterred]

So redbrez any the wiser?

[redbrez]

not on this thread  but hoola has given me a lot of good info.
and thanks for giving me the time hoola and daggers cheers lads

[hoolahoop]

not on this thread  but hoola has given me a lot of good info.
and thanks for giving me the time hoola and daggers cheers lads

No probs fella anytime, just like Filo we like repeat business. He relies on it and so do we . Please fellas don't feed the numpty anymore ; he won't listen to you.

[Jenny]

I doubt any credit card company would give you new card with enough credit to purchase a new car outright.

Shot down in flames!

Next!

And even if you did have enough credit on a card to buy a car outright, dealers hate credit cards due to the merchant fees involved and normally pass these back to the purchaser. Not 0% anymore.

[hoolahoop]

I doubt any credit card company would give you new card with enough credit to purchase a new car outright.

Shot down in flames!

Next!

And even if you did have enough credit on a card to buy a car outright, dealers hate credit cards due to the merchant fees involved and normally pass these back to the purchaser. Not 0% anymore.

Thank you Jenny and Filo now you see why I won't get into a debate with him . Again everyone you are welcome to pm me if you need help......remember I no longer sell cars or are trying to sell you cars.

I now see where IC 1967 gets his kicks ...it's from writing drivel like the above. Personally I would prefer to help cut through the jargon for folk and allow them to decide whether or not a product is for them on a 1 to 1 basis.