Quote:
Originally Posted by hufc2002
I am sick of doing spreadsheets and comparisons!
All in all the 118d will work out cheaper in the long term (4 year PCP deal) and will also hold a higher residual value.
The next question I keep asking myself is it worth £300 per month for 4 years (£14,400) plus the £2600 I would have to pay upfront (presuming I get 10% off the list price) and then after the 4 years not even owning the car??
Big committment in my eyes!
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Yes, but then what are the alternatives?
If you want to buy a car for the same outlay, you're looking at a mid-range ford focus?
or maybe a Golf with a steering wheel and some air in the cabin?
You could buy the BM. Then you would have say another £9,000 to pay? And at the end you would own a car worth £9,000.... Why not stick that £9,000 in your bank rather than into a car that is only going to lose value?
PCP either puts you in a car you wouldn’t be able to afford to buy outright, or lets you buy a car but keep the money in your bank where it is earning interest (not very much i accept!).
It also protects you against a big drop in 2nd hand car prices as you can just hand it back at the end if you want.
And don't forget, what ever equity you have in the car at the end of the deal is yours, whether you sell the car, settle finance and pocket the difference, or trade it in for another BM.