Where to buy from? Dealer or car-mart?

[RichC]

No mate, it actually works the other way round funnily enough. Hire Purchase or any personal loans are better suited if you plan on keeping the car for a long time. The purpose of PCP is partly to help with the fact cars depreciate so much. With a loan you are hit by the depreciation but with PCP schemes you dont see it as much.

Remember cars lose at least 17.5% just by driving off the forecourt. If you have a personal loan you have to make around 20% worth of repayments before you are actually paying for the car.

Rich

 

[dannyboy83]

hmm ok complicated stuff!

When at the stage of buying, I'll ask about the PCP. What does PCP stand for?

Cheers for the advice btw.

 

[RichC]

hmm ok complicated stuff!

When at the stage of buying, I'll ask about the PCP. What does PCP stand for?

Cheers for the advice btw.

It seems it, when its explained properly with the figures in front of you its easier to grasp. I think PCP stands for Personal Contract Purchase but i could be wrong.

Thats ok, anything to help.

Rich

 

[faster4_tec]

i've found scotland to be cheaper on a lot of things, fuel, insurance, cars, chocolate, beer,, pubs, women, oopps