Haven’t bought a car in quite a lot of years. My banger seems to be on the way out (nearly 13 yr old french runabout) so I could do with getting a replacement and current thinking is to get something that will eventually replace the family car. I think I need an estate and fancy an Octavia.

Does anyone have any recommendations for someone with a “good” credit profile (not very good or excellent mind you)? I’m thinking HP might be more acceptable to a lender?

I need it to be sub £200 pcm for say 5 years?

Many thanks in advance

Miles

PCP / HP is an easier underwrite because it’s secured – I wouldn’t worry about scores, they’re meaningless really, it’s pass/fail these days – VWFS will agree most, they’ve got the whole manufacturing / purchase / Finance / disposal system in-house so it’s a no-lose gamble for them.

If you want a great deal go with an open mind, runout models (ones due to be replaced in a few months) can be great value, my wife’s Ibiza was steal because there was new one due.

Octavia is nice, there’s objectively nothing to dislike about them and they work well for a lot of people. Saloons are big enough, frugal enough or fast enough depending on your taste, safe enough, well made, etc etc etc – estates are the same with more storage (unsurprisingly enough) but equally being no wider than a Golf they’re not a pain around town either.

Very happy with my Dacia Logan MCV (Estate), Don’t laugh until you’ve tried one.
After years of flash company cars I needed a run around just to get me to and from work and trips out with the bike in the back.
With it’s seats down it’s long enough to car camp and sleep in.
It has cruise control, eletric window all round, air con, sat nav, front and rear parking sensors, DAB radio, USB media connection.

It’s petrol and returns 45mpg and is nippy enough to 60.
Ok so it’s not got a flash badge but now they made out of eastern Europe rather than India they are reliable and well built.
And for just £122 a month with a low insurance costs (I’ve not got a full no claims bonus) you can’t go wrong.
Forget the badge, “do the maths” and go and have a look at one.

£200 ish a month goes a long way to a new Octavia estate on finance.
Check out Simpson’s Skoda.

Bank loan might be cheaper.

Tried Lings… ?

Tried Lings Cars… ?

Gah! Beaten to it!

Credit card can be cheaper and can be converted to cash but requires discipline.

Similar position to yours, so I bought a 2003 Audi TT 3.2.

Not really very useful I suppose.

Bank loan might be cheaper.

Currently trying to balance this. Thing is with PCP is you don’t pay interest on the deferred amount, which lowers the payments. With the bank you’re paying back the whole amount suing the term.

Cheers all. I don’t fancy pcp as don’t see that I’d have the cash to ourchase at the end and I can’t abide the thought of hiring. I may try my bank first but some of the dealer finance seems to stack up ok.

Currently trying to balance this. Thing is with PCP is you don’t pay interest on the deferred amount, which lowers the payments. With the bank you’re paying back the whole amount suing the term.

Absolute bobbins, when you take out a PCP you are borrowing the full cost of the car less your deposit.
You pay interest on the full amount borrowed

Not in my illustration from BMW Finance i dont.

their sales technique works then 😀

Not in my illustration from BMW Finance i dont.

The only reason payments are less with a PCP is because they are based on total amount payable minus the balloon payment. However you still pay interest on the total amount payable INCLUDING the balloon payment.

I don’t believe my BMW finance deal is any different from anyone elses.