Best PCP deals new and used

[pacenotes]

Been a leaser for years before I PCPed my Velar a month ago.

Why I went down this route, Lease deals are not really about these days.

I got the P380 HSE 2018 with all the boxes for £250 a month after part exing my in between car a 12 year old Jag XF.

After 2 years the PCP company say it will be worth £24k, I will just part ex it for the next one.

After 6 years tax is £180 a year now.
Most of the depreciation has happened.
I think I'm paying the monthly depreciation to the PCP company the same as a lease.

If I paid upfront I would still be losing that amount every month anyway.

I got a 1 year Land Rover warranty and the dealer gave me a good deal on the 2nd year if I bought it upfront so more than likely I will PX it in 2 years time when that warranty is up.

Cars depreciate, Why let 40k leave your bank account when you can keep your 40k and spend £250 a month on the 7k depreciation amount?

[loskie]

how can you part ex it as you won't own the value of what's left in it if it's 24k or less. You'll only own the excess to the £24k if there is one

[Shambler]

Just bought a Range Rover velar on a 2 year pcp £1000 down £299 a month hand it back after two years job done

[williduck]

Shambler said:

Just bought a Range Rover velar on a 2 year pcp £1000 down £299 a month hand it back after two years job done

Any details or links to that please?

[Roger Irrelevant]

ACCYSTAN said:

Disagree

PCP a used car can make sense if -

1. Has manufacturer warranty for duration of PCP aka the likes of Kia or MG
2. You can get a good GAP insurance product in case you write it off

I think it's even simpler than that - for all that it seems to confuse/annoy a lot of people PCP is really just a loan with different shape repayment profile (i.e. a big 'balloon' at the end), and an option to walk away instead of paying the balloon. So if you are happy with the concept of taking a bank loan to buy a used car, which is a very, very, normal thing to do and is often recommended on here, then there's no reason to discount PCP either. In practice a lot of PCPs on used cars have piss-taking interest rates so aren't actually that cheap if you are looking to buy at the end of it, but if you've no intention of keeping it and the total amount payable over the term is reasonable thanks to a high balloon (as in the case of that Velar in the OP), then why not? The warranty thing is a bit of a red herring - if you bought the same car with a bank loan you'd still need to make the agreed repayments and fix the thing so the fact it's PCP makes no difference.

[Gregmitchell]

loskie said:

people are mad to PCP a used car

Depends though doesn't it, like the chap above I PCP'd a used E-Tron, deal was...

£500 down, £242 a month over 18 months (plus about £75 saving in fuel costs every month compared to petrol)

2 years Warranty
2 years breakdown
2 years MOT
Free Home charger (worth £1k)

Which is a crazy good deal, where PCP actually works. after 18 months I'll just give it back.

[Onipmuj]

Gregmitchell said:

Which is a crazy good deal, where PCP actually works. after 18 months I'll just give it back.

Where/when did you get this deal? As this would be ideal for me.

[loskie]

Gregmitchell said:

Depends though doesn't it, like the chap above I PCP'd a used E-Tron, deal was...

£500 down, £242 a month over 18 months (plus about £75 saving in fuel costs every month compared to petrol)

2 years Warranty
2 years breakdown
2 years MOT
Free Home charger (worth £1k)

Which is a crazy good deal, where PCP actually works. after 18 months I'll just give it back.

Fair enough

[Pistonheadsdicoverer]

Gregmitchell said:

Depends though doesn't it, like the chap above I PCP'd a used E-Tron, deal was...

£500 down, £242 a month over 18 months (plus about £75 saving in fuel costs every month compared to petrol)

2 years Warranty
2 years breakdown
2 years MOT
Free Home charger (worth £1k)

Which is a crazy good deal, where PCP actually works. after 18 months I'll just give it back.

Do you have a link? Or was it from AT?

[335dTot]

Pistonheadsdicoverer said:

Do you have a link? Or was it from AT?

The e TRON pcp deals were around at the back end of last year I think it was

[pacenotes]

Just to add to the thread,

Used ID3s are very cheap now on PCP. About £150 a month.

[Browter]

Pistonheadsdicoverer said:

Do you have a link? Or was it from AT?

They are on AT if you filter by 'Manufacturer approved' as they are from Audi dealers. The details of the offer are in the description. e.g this still has a 2 year warranty, 2 services and charger.
https://www.autotrader.co.uk/car-details/202405179...

[Shambler]

Not as good a deal as I managed to get but.

Velar diesel 180 S £1000 down £300 x 24 6000mpa.

https://www.autotrader.co.uk/car-details/202404188...

You can get a 2 year warranty for £30 a month extra

[Pistonheadsdicoverer]

Browter said:

They are on AT if you filter by 'Manufacturer approved' as they are from Audi dealers. The details of the offer are in the description. e.g this still has a 2 year warranty, 2 services and charger.
https://www.autotrader.co.uk/car-details/202405179...

Hey, I used your link (18 months, 6K a year) and the 500 pounds deposit.
Cheapest PCP I got was £429 per month.
Is there something I am doing wrong? Thanks!

[Browter]

Pistonheadsdicoverer said:

Hey, I used your link (18 months, 6K a year) and the 500 pounds deposit.
Cheapest PCP I got was £429 per month.
Is there something I am doing wrong? Thanks!

I would call the dealer directly and see what they can do. They seemed to have a batch of used e-Trons they wanted to shift when people were getting those deals. They are still offering the 2 years warranty, 2 services and the charger.

[T_S_M]

Pistonheadsdicoverer said:

Browter said:

They are on AT if you filter by 'Manufacturer approved' as they are from Audi dealers. The details of the offer are in the description. e.g this still has a 2 year warranty, 2 services and charger.
https://www.autotrader.co.uk/car-details/202405179...

Hey, I used your link (18 months, 6K a year) and the 500 pounds deposit.
Cheapest PCP I got was £429 per month.
Is there something I am doing wrong? Thanks!

You won’t get the PCP as cheap as mentioned above. Audi were giving £2500 finance contribution at the time which is only £500 now.

[nufcfan]

Thoughts on the volvo xc60 offers? Plus edition b5p mild hybrid for 5k deposit and £500pcm 6000miles 4 years - new

[335dTot]

BMW m135i, brand new, £422 deposit x 48 months at £422

[Shambler]

335dTot said:

BMW m135i, brand new, £422 deposit x 48 months at £422

On a lease it’s £5000 down and £409 a month. So at £422 it’s a great deal

[Derek182]

I've bought cars every possible way over the years, outright, with a bank loan, PCP and lease, even on interest free credit card balance transfers!
On each occasion I do the maths and hopefully go for the cheapest option which changes over the years and with different cars.
In 2019 I fancied a brand new hot hatch and leased a Seat Cupra 290 for 2 years which at the time was by far the cheapest way to do it.
After that interest rates were low and personal loans cheap so I used one to buy a Megane RS265.
More recently I was in a position to buy a dream car (children left home, mortgage paid off) and looked at various ways of financing a £30 to £40k Porsche but at current interest rates the total cost of finance was painful so I went for a 0% PCP on a brand new Alpine A110GT.
I'm paying £24k over 3 years of 6000 miles per year with a balloon/GFV of £36k, I doubt I will buy it unless it's worth a lot more than that but I'm happy to pay that to own an incredible car for 3 years, at the time a lease with the same mileage over 3 years would have been £30k for the same car.