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That’s a very nice car @Mf 7715
Got used to the higher driving position in a Jeep over past number of years, I’d find it hard to go back to sitting lower, when I first had a land cruiser I didn’t like it at all and was planning to go back to a car at some point, hasn’t happened yet.

Had a look at this Panamera 4.0 V8 550hp when on holidays in Scotland.
£115,900 sale price,
PCP finance available (I took a picture of the details)
Deposit £23,180
Monthly payments £1,229. for four years after which you can hand it back,
After paying £82,000....
or come up with £55,000 of a final payment.
Mileage limited to 5000 miles per year, .48p/mile after 20000 miles.
Lovely car, pcp it’s nuts imo, irrespective of the value of the car, I’d a good chat with salesman
most cars are sold on pcp.
The amount of money it’s costing people to drive a car for two or three years on these pcps is shocking.
The best value is a low mileage ex pcp car and drive it for another two or three years, or else drive into the ground.

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That’s a very nice car @Mf 7715
Got used to the higher driving position in a Jeep over past number of years, I’d find it hard to go back to sitting lower, when I first had a land cruiser I didn’t like it at all and was planning to go back to a car at some point, hasn’t happened yet.

Had a look at this Panamera 4.0 V8 550hp when on holidays in Scotland.
£115,900 sale price,
PCP finance available (I took a picture of the details)
Deposit £23,180
Monthly payments £1,229. for four years after which you can hand it back,
After paying £82,000....
or come up with £55,000 of a final payment.
Mileage limited to 5000 miles per year, .48p/mile after 20000 miles.
Lovely car, pcp it’s nuts imo, irrespective of the value of the car, I’d a good chat with salesman
most cars are sold on pcp.
The amount of money it’s costing people to drive a car for two or three years on these pcps is shocking.
The best value is a low mileage ex pcp car and drive it for another two or three years, or else drive into the ground.

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View attachment 68955
I think the pcp figure in Britain is 85%+ of all new cars or something like that. Probably not too far off that here either at this stage
 
I think the pcp figure in Britain is 85%+ of all new cars or something like that. Probably not too far off that here either at this stage

Certainly getting higher here too, it was a nice way to spend half an hour, I’d left my wife and two children in a play centre up the road, I went to have wander around the Porsche garage, as a child I was mad about the 911, still am, interstingly Porsche have given up selling cars with Diesel engines.
 
Looking at cars at the minute, garages just assume your going pcp, and they don't want to big of a deposit if you are as they want to keep the repayments the same in 3 years time so you will buy new again, anyone driving a skoda karoq? What are they like, usually have VW but tiguan a good bit dearer!
 
Looking at cars at the minute, garages just assume your going pcp, and they don't want to big of a deposit if you are as they want to keep the repayments the same in 3 years time so you will buy new again, anyone driving a skoda karoq? What are they like, usually have VW but tiguan a good bit dearer!
THey're probably getting commission on the finance.
 
THey're probably getting commission on the finance.
Years ago my brother was getting a loan from the bank to buy a car . The rate was agreed and next thing the bank manager said he should take out insurance on the loan so his wife would have the car if he died . My brother said she would be so broken hearted that she would not want to go anywhere so would not need the car .
 
All people see is the repayment per month and no other form of finance can compete with the pcp model on that. The rest of the details seem to pass people by but in fairness if you want to drive a new car and you plan on changing regularly and staying with a similar model it works ok.
 
All people see is the repayment per month and no other form of finance can compete with the pcp model on that. The rest of the details seem to pass people by but in fairness if you want to drive a new car and you plan on changing regularly and staying with a similar model it works ok.
It is surely a case of painting people into a corner with the big payment at the end to purchase the car?
I'm not sure it is right to be honest.
 
It is surely a case of painting people into a corner with the big payment at the end to purchase the car?
I'm not sure it is right to be honest.
As I say it suits people who want a new car under them. Anyone can do the maths and know there is a lump sum to be paid.
Most decent salesmen explain it clearly and pitch it to those it suits. Shiny paint beats a calculator every time though, same in farming in a lot of cases
 
Looking at cars at the minute, garages just assume your going pcp, and they don't want to big of a deposit if you are as they want to keep the repayments the same in 3 years time so you will buy new again, anyone driving a skoda karoq? What are they like, usually have VW but tiguan a good bit dearer!


Better half Has a kodiaq here, got earlier in the year. Probably similar enough to the karoq
 
As I say it suits people who want a new car under them. Anyone can do the maths and know there is a lump sum to be paid.
Most decent salesmen explain it clearly and pitch it to those it suits. Shiny paint beats a calculator every time though, same in farming in a lot of cases
True enough
 
As I say it suits people who want a new car under them. Anyone can do the maths and know there is a lump sum to be paid.
Most decent salesmen explain it clearly and pitch it to those it suits. Shiny paint beats a calculator every time though, same in farming in a lot of cases

Yeah, but I tend to keep them 7 to 8 years, nothing wrong with PCP as long as you know what your are at, know several people that planned on paying off lump sum after 3 years but ended up with shiny new cars instead!, I won't be going pcp but amazed at the reaction when you say that, there must be very few people not taking it up .
 
But have we had the used car market correction for pcp yet?

Given the ease of driving away in a new car vs a 3 year old one combined with the increasing numbers of pcp cars coming back in after 3 years at some point the market is going to have to correct.

Theres a reason second hand cars are so cheap in the UK they've been playing the pcp game a lot longer than we have
 
The whole pcp thing is gonna go booom soon enough.
It's amazing the amount of lads cruizing about in cars you know damn well they haven't been able to afford outright.
Father was chatting to a balif (frined of a friend not over on business!!) and they have an insane amount of re possesions on expensive cars. Lads buying them and reallising they can't afford to put the fuel in it or pay for parts when it breaks down.

Also a massive pain the amount of people who are insanely carefull of their nice new cars on back roads in case they get a contract altering minor scratch!
 
But have we had the used car market correction for pcp yet?

Given the ease of driving away in a new car vs a 3 year old one combined with the increasing numbers of pcp cars coming back in after 3 years at some point the market is going to have to correct.

Theres a reason second hand cars are so cheap in the UK they've been playing the pcp game a lot longer than we have
The first year or two of them have been traded, I don't know if it's had much affect, not that I've seen. It's a double edged sword for dealers too, they get the new sales out but they are immediately on the hook for the same ones coming back and trying to shift those.
 
The first year or two of them have been traded, I don't know if it's had much affect, not that I've seen. It's a double edged sword for dealers too, they get the new sales out but they are immediately on the hook for the same ones coming back and trying to shift those.

I think the dealer has them priced in such a way that they can sell car for 2-3000 less than market value and still be in profit. I was buying a car three years ago and the sales man was trying to sell me a car on PCP, as I said to him the dealers and car makers are not doing it to make a loss, they know what they are at.
I had all the figures at the time and worked it out but it is not a cheap way to have a car
 
This is when people talk about having a balloon payment on something I take it?? i'm a bit behind here what's the abbreviation PCP stand for?:unsure:
 
Got to have folk buying new so I can buy old.:yes:

I love rocking up at school with the kids in my £1000 freelander,all these new cars on tick and I’ve a pair of tractors at home bought and paid for that cost more than most houses .:laugh:
When my brother came home from South Africa around 2000 he bought a VW Caravelle which is bright green, his eldest daughter complained bitterly about being picked up from school in the Caravelle so he obliged picking her up in the JD the next day.
 
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