PCP

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plumber63
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PCP

Post by plumber63 » Sat Nov 16, 2019 7:37 pm

Has anyone kept ther car after their PCP has ended. If so what are the pros and cons of doing so. Love my car and it will only cost £16,500 to buy which is a lot cheaper than buying a new car. Should be looking at something more sensible as I am 63 but the darn thing just brings a smile to my face everytime I drive it.
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MAFFA
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Re: PCP

Post by MAFFA » Sat Nov 16, 2019 11:03 pm

Mate don’t go sensible! I’m 43 & my Merc is mental & my Mini has green wheels & a one off wrap .

Stay young, stay silly...keep the A45!

Unfortunately I’ve no PCP help with this as I bought mine with a loan from Sainsburys when their rates were ridiculously low
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plumber63
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Re: PCP

Post by plumber63 » Sun Nov 17, 2019 9:06 am

Thanks Maffa. Its the running costs that are a bit of a worry with retirement looming and just a state pension it might not be possible to do. Love your Mini.
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dorsetred
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Re: PCP

Post by dorsetred » Sun Nov 17, 2019 10:25 am

As a young 71 hitting 72 next month I completely understand your dilemma and in our case doubly so because we've just renewed the Insurance at £445 plus Tax on 1st March will be about the same. We are fortunate as I only retired from my Middle East job last December so obviously managed to save enough combined with Part Ex the previous MY16 model when we bought our MY18 Model so no debt at all.

From being abroad more or less from 1986 as you can understand it's a very different lifestyle returning and retiring for me so as a result you start to look at how and where you can save in general. We changed on 1st March this year and the one thing I enjoy is looking at the car (even if it needs a wash).

It really comes down to three points for you to consider, buy the car which you know at the price mentioned, you already know all the running costs so should be aware you will need to buy possibly a warranty with service contract previously within the monthly debt and finally all annual costs. One additional thing I would definitely do is have the car checked and ideally serviced before your package ends.

Hope this info helps just a little.

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plumber63
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Re: PCP

Post by plumber63 » Sun Nov 17, 2019 6:49 pm

Thanks Dorset Red. Some points to consider will have to see what happens in the the coming months. Ps glad to see you support a decent team shame we are so far down the league.
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Re: PCP

Post by dorsetred » Sun Nov 17, 2019 7:08 pm

Supported United since before Munich through thick and thin, it was always going to be difficult after Fergie. Be very interesting to see who they buy in January.

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Re: PCP

Post by 137699 » Tue Nov 19, 2019 9:01 am

If the car is what you want and you want to keep it, then why not?
As you say the final purchase price is way less than the car is actually worth so it's not a difficult decision.

Personally I always get shot of my PCP cars before end of term as I rely on my car for my job so need to have one under warranty and without the hassle of worrying about what might go wrong, so I generally trade at 30 months (while there's still 6 months warranty left) so that I get the best PX price from the dealer who knows they can fix any faults for free while the car is still in warranty.
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