PCH car finance…
So it looks like a replacement car is likely to be required soon. Having looked at the options it seems I am probably just as well wasting my money on a Personal Contract Hire (c. £250 per month) rather than buying with cash or personal loan and paying the same on depreciation and upkeep for a 3+ yr old car. Am I missing any obvious pitfalls (I am fully aware you don’t own the car at the end, and I’ve spotted that the advertised deals might be based on unrealistically low mileage)
How do we add a tow bar if we don’t own it?
Having never bought a car on PCH how do you do that (and get a good deal)? Is that time to call Ling or do I go the dealer and go with their package?
How long from picking a car on PCH to realistically having it available?
Can I trade in the current piece of crap if I am buying on PCH (or use the various scrapage schemes)?Posted 2 years ago
I’m in a very similar position, watching with interest…Posted 2 years ago
I’ve been toying with this for a while as may get rid of company vehicle.
Basically, to get a good deal you need to be able to wait and see what models start getting pushed out for silly prices, rather than be set on a particular car. (such as the Volvo S60 T4 SE Nav which is currently silly money (6+23 at about £160).
Pistonheads has a great thread where the deals get posted. When you see a good deal through a broker, a lot of people seem to be able to go to their local dealer who matches the deal and you save the admin fees).
Delivery depends on usual lead times, unless the vehicle is in stock (which you’re usually told). Keep an eye out for models that include metallic paint too, as adding options doesn’t make a lot of financial sense after the headline figure that drags you in.
(No idea on the towbar, but assume that it’s just a case of making sure it’s removed when the car goes back. I don’t think the PX wouldn’t be a PX as you’re not buying a car, but if you go through a dealer they may take it off your hands? (the brokers certainly aren’t interested)
EDIT: Latest page on the PH thread; it’s great to lurk on because the deals get debated for you and you start to pick little things up pretty quick,such as sometimes it works out cheaper to take a lease with a lower mileage limit and pay the excess etc.
<span style=”color: #444444; font-size: 16px; background-color: #eeeeee;”>No idea on the towbar, but assume that it’s just a case of making sure it’s removed when the car goes back</span>
The problem with that is if the bumper has to be cut to fit the towbar.
The proper thing to do is pay for a factory fit towbar, but then you pay the full £600-£900 for an extra on a car you hand back in2-3 years. At least if you go for a higher spec model you don’t pay the full cost of the upgrade because the car will be worth more when the leasing company sell it on.Posted 2 years ago
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