People have been conned into thinking it’s ok to ‘just pay for the depreciation’ on a new car, then start again in 3 years’ time. You’re locking yourself in to perpetually paying max depreciation, which seems silly to me.
I ran bangers, partly out of necessity, for 10/15 years, so I reckoned I’d stored up a bit of an excuse to get a new car, but still ended up with a 1-year old and an ex-demo. New car feeling but the harshest of depreciation already done.
Paid for with a bank loan, low interest, and at the end of the term, the car is mine. I don’t have to give it back and sign on to another plan. I hate the thought of that. Like renting a house; throwing money away. I plan to keep these cars for 10 years or so which seems the best way to extract max. value.
I nearly succumbed to Showroom Fever a couple of times. But PCP/leasing? Nah.