I’m not especially bothered about a new car but just wondering how this works out financially?

I would imagine just like on a new car.

Its basically just leasing. Don’t be fooled in to thinking you will have lots of equity left at the end because you won’t.

Always put a very low deposit in or walk away.

PCP can be good on a new car if you treat it as leasing as you have a full warranty and servicing included (if you barter well)

Second hand I assume you loose warranty and probably wont get servicing. Plus tyres will be part worn as will brakes etc etc.

You would be better off shopping round for the best %loan deal then haggling hard on any car of your choice.

PCP is always weighted in favour of the company/tied-finance company selling the deal.

Bmw Mini seemed fond of selling PCPs – so I looked into taking one. **** that!!! Ridiculous.

It won’t make any difference at all to stuff like servicing and warranty.

Depending on how old the car is, you should compare with PCP on a new car. Manufacturers sometimes subsidise the rates and/or give you a very good residual to shift new metal

Some dealers won’t PCP a secondhand car anyway. Had a Fiesta on Ford Options a couple of years ago, minimal deposit. Didn’t keep the car until end of term due to medical suspension of my driving licence, but we ended up PXing it and the larger family car for a single younger family car, Finance on Fiesta was settled and we were still “in bed” on it, ie the finance was less than the cars PX value.

You would be better off shopping round for the best %loan deal then haggling hard on any car of your choice.

Hmmm. Dealers make a fair amount of commission on the loan – sorting your money elsewhere means you may not get the best screen price.