PCP or bank loan

[Ace Rimmer]

Hello peeps

Long time lurker but first time poster so please be gentle.
I unexpectedly need to get a bigger sprog mobile as we have child no 3 on the way.
Currently have a 4 year old Ford Kuga that I own outright (worth about 10k) that I would p/x.

I'm looking to get a VW Sharan, Got quotes via Carwow and DTD for 26k PCP at 5.9%
Found a year old model at local dealers for 21k PCP at 10.9%

Can get a 10k bank loan at 3.9% and own the car outright. My Kuga has roughly halved in value over the 3 years I have owned it so I'm unsure which route to take.

Your thoughts please

[DuraAce]

Keep the Kuga, just carry less crap with you. You'll manage just fine.

I can't think of anything more depressing than sinking 26k into a VW minibus.

If you must have it then consider PCP to get any potential deposit contributions /deals/free services etc then clear the finance a week later with your loan.

[Nickp82]

If you px the Kuga and take a PCP then after the 3/4 years that chunky deposit you put in will have been eroded and you will be left with at best £1000-£1500 equity in the Sharan so I would go the personal loan / year old car route.

[dave_s13]

Just trade your kuga in for a 2-3 yet old smax.

Your car plus a a few grand will get you a perfectly decent one.