How would you fund this? Although I think I know the answer.

[Mjsibs]

OK reserved my car today, from main dealers.

Smax 2020, st 190bhp, lux pack, 26k miles, auto, fmdsh, 1 owner.

Price £29,700 - negotiated too £29,250

P/x no questions asked they offered £5,100, wbac £4,400.

Remaining balance after p/x £24,150

Now the finance.

Pcp - 4.9%- £9,800 deposit - 36 x £242 - gtfv £13,150.

Loan - 2.7% - £303 x 60 - owned after 5 years.

Now I have a very strong feeling this type of vehicle, euro 6, 7 seater, desirable mpv, will hold alot more value than £13k at less than 5 years old.

But which of these 2 financing options sounds best. Forget personal finances etc in this climate would you opt for that pcp deal or a personal loan.

Thanks guys.

[anonymous-user]

Something is off with those amounts. 303x60 is just over £18k so a good way off the purchase price.

Everyone wants SUVs so the S-Max is a niche choice, sadly. I’m not sure I’d be all that confident on residuals, particularly if it’s diesel.

I’d still go personal loan though.

[Mjsibs]

charltjr said:

Something is off with those amounts. 303x60 is just over £18k so a good way off the purchase price.

Everyone wants SUVs so the S-Max is a niche choice, sadly. I’m not sure I’d be all that confident on residuals, particularly if it’s diesel.

I’d still go personal loan though.

No 60 x 303 + my initial deposit I had.

Smax imo has always been a very sought after family car. I think after owning one I bought at 5 years old for nearly £16k , they do hold well.

Plus the fact they've stopped producing them, euro 6 and the ukez extension next year, is a decent recipe for a string residual value.

[Jackx1]

Personally I would do the PCP route and max out the possible deposit. The market is volatile at the moment and PCP would give you security on the future value of the car.

[deebs]

Do you intend to keep the car beyond the length of the finance payments?

[Teebs]

No such thing as a desirable MPV - there's a reason that most manufacturers have stopped making them.

A SUV would give you 99% of the flexibility with better residuals. I would have a look at a Skoda Kodiaq, plenty within your budget with 7 seat flexibility.

[ChrisH72]

I'd say it depends how long you plan to keep it.

If its only for 3 years I'd go for the pcp.

My only concern is that if it's worth more than the gmfv at the end of the term how do you unlock the cash? Is it by trading in or do you have to take a loan to buy it then sell it afterwards? Selling a car with outstanding finance is difficult isn't it?

[Mjsibs]

ChrisH72 said:

I'd say it depends how long you plan to keep it.

If its only for 3 years I'd go for the pcp.

My only concern is that if it's worth more than the gmfv at the end of the term how do you unlock the cash? Is it by trading in or do you have to take a loan to buy it then sell it afterwards? Selling a car with outstanding finance is difficult isn't it?

Exactly that. I've bought it now and paid cash. Even in a couple of years it'll be worth a fair bit.

Smax cars really do hold there value. We certainly aren't moving away from 7 seaters, yes mpv maybe, but when you compare it too a zafira or Picasso it's easy imo too see why. 99% of people don't even know smax are 7 seaters unless you a car person.

I don't think there's much in the market that competes on size, tech, looks etc for the money.

[CrippsCorner]

Mjsibs said:

charltjr said:

Something is off with those amounts. 303x60 is just over £18k so a good way off the purchase price.

Everyone wants SUVs so the S-Max is a niche choice, sadly. I’m not sure I’d be all that confident on residuals, particularly if it’s diesel.

I’d still go personal loan though.

No 60 x 303 + my initial deposit I had.

Smax imo has always been a very sought after family car. I think after owning one I bought at 5 years old for nearly £16k , they do hold well.

Plus the fact they've stopped producing them, euro 6 and the ukez extension next year, is a decent recipe for a string residual value.

They do still make the S-Max? Unless you mean your engine they don't, as they're only hybrids now.

I think the S-Max is niche, but it is a good seller, even compared to the SUV out there. I personally think they're a good looking bus in Titanium X/St Line spec.

[georgeyboy12345]

I’d go for the loan too. How many miles a year are you allowed to do on pcp?