End a PCP to get the dream car?
Discussion
Not sure if this is the right forum, mods feel free to move.
Last November I started a new job which had certain caveats on the car allowance scheme, one of them being the car had to be less than 4 years old. My car at the time was a Saab 9-3 Turbo-X with a remap which was adequate for my needs, although (as I realised when I looked at new cars) not that spacious inside.
I started to look around at 1 & 2 yr old cars (I didn't want to get a 3yo and have to change in a short time) as well as new.
As it was coming up to the end of the quarter I got a very good deal on a Golf R estate, 4 yr PCP with 10k
The new job was in international sales so would only mean the odd trip to the airport, and perhaps once a fortnight trips to the head office (200mile round trip). As I got the cat before the job change I ended up doing a few weeks of my 100 mile per day commute. Then, with the new job I had to do a lot of trips to HO while I got up and running. both of which racked up the mileage in the early months.
Unfortunately the job didn't work out, I left and I'm looking for a new job. The Golf is 7 months old and has 10,000 miles on the clock already. My next job could involve a long commute to an office based role, or it could be UK rather than export sales, so a lot of mileage in the UK. I'm toying with a few ideas at the moment but can't finalise until I get the next job.
Options are
- keep the Golf, keep schtum and see how the mileage is at three years when I plan to trade in and pay mileage excess of ???
- keep the Golf, contact the finance company and potentially see an increase in the monthly payment
- when I get the next job take the company car option, take something cheap (low BIK) and keep the Golf for weekends, and watch as the average mileage drops to 10k p/a
- get out of the PCP ASAP use any funds in the car to buy a C6 Audi RS6
- something else
Opinions please
Last November I started a new job which had certain caveats on the car allowance scheme, one of them being the car had to be less than 4 years old. My car at the time was a Saab 9-3 Turbo-X with a remap which was adequate for my needs, although (as I realised when I looked at new cars) not that spacious inside.
I started to look around at 1 & 2 yr old cars (I didn't want to get a 3yo and have to change in a short time) as well as new.
As it was coming up to the end of the quarter I got a very good deal on a Golf R estate, 4 yr PCP with 10k
The new job was in international sales so would only mean the odd trip to the airport, and perhaps once a fortnight trips to the head office (200mile round trip). As I got the cat before the job change I ended up doing a few weeks of my 100 mile per day commute. Then, with the new job I had to do a lot of trips to HO while I got up and running. both of which racked up the mileage in the early months.
Unfortunately the job didn't work out, I left and I'm looking for a new job. The Golf is 7 months old and has 10,000 miles on the clock already. My next job could involve a long commute to an office based role, or it could be UK rather than export sales, so a lot of mileage in the UK. I'm toying with a few ideas at the moment but can't finalise until I get the next job.
Options are
- keep the Golf, keep schtum and see how the mileage is at three years when I plan to trade in and pay mileage excess of ???
- keep the Golf, contact the finance company and potentially see an increase in the monthly payment
- when I get the next job take the company car option, take something cheap (low BIK) and keep the Golf for weekends, and watch as the average mileage drops to 10k p/a
- get out of the PCP ASAP use any funds in the car to buy a C6 Audi RS6
- something else
Opinions please
Hennerz1994 said:
Personally if I was you I would keep the golf. As by law after you have paid off half the loan amount you can jusy hand the car in and be on your way. As I'm sure there is no car really better for everything you could need.
listen to ^ this guy you won't go far wrong
Same applies for your mortgage by the way
R500K said:
Hennerz1994 said:
Personally if I was you I would keep the golf. As by law after you have paid off half the loan amount you can jusy hand the car in and be on your way. As I'm sure there is no car really better for everything you could need.
listen to ^ this guy you won't go far wrong
Same applies for your mortgage by the way
It is called a voluntary termination, it's in the small print.
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