PCP or PCH car leasing?

[crooky]

Is this now not a good time to lease as the prices for second hand cars have shot up recently?

 

[somapop]

Was about to ask you guys about your thoughts on PCP.
I'll be honest, I've no idea as to what PCH is though.

I've got it down to a few models I'm interested in and I'm not a huge car driver, but with family dotted over the country and kids (that I no longer live with) it's a necessity. I also kind of like cars and always have (despite often using public transport if I can). Nothing approaching ostentatious, but something that perks me up a little when I walk towards it. The current car is 14 years old and the ex has the other (also 14 years old), so I'm hardly the flash type.

Also like the kids to have a decent motor to be picked up for once and they've had an couple of years upheaval.

Saved a little recently so could probably drop 2-3k (seems that's about as much as I can doing the PCP route).

 

[Mazzarelli's Swiss Cheese]

We never lease. We save up and buy with cash. We honestly don't care that we do not have a flash new car. We would rather buy a five year old car and own it outright.

I do the same, but aside from the big deposit are you not putting away about the same in savings as you would on leasing every month? Maybe a bit less, but you then have to fork out on repairs too.

 

[Blue and still suffering]

Always try to buy a car around 12 months old, only one owner and that's usually the manufacturer, still comes with most of the warranty plus no MOT for a further two years.
My other half bought her first car on PCP, never again though as once they have you it takes a lot to break out of the loop.
If they didn't favour the dealers then they would never offer that option.

 

[Manc in London]

I do the same, but aside from the big deposit are you not putting away about the same in savings as you would on leasing every month? Maybe a bit less, but you then have to fork out on repairs too.

But you have an asset you can sell, it is much cheaper, you have no mileage limits and you don't get stung if it has been damaged during the leasing period.

With our Golf, we ended up paying the equivalent of less than 1k per year. No way do I see us getting a Golf for 1k per year. More like 3.5k

 

[Mazzarelli's Swiss Cheese]

But you have an asset you can sell, it is much cheaper, you have no mileage limits and you don't get stung if it has been damaged during the leasing period.

With our Golf, we ended up paying the equivalent of less than 1k per year. No way do I see us getting a Golf for 1k per year. More like 3.5k

Yep, I suppose if you buy a five year old car and replace it with another every three years that's great - I tend to run them into the ground which becomes a money pit.

 

[Blue Maverick]

Is this now not a good time to lease as the prices for second hand cars have shot up recently?

Any ideas why second hand cars have increased so much, we buy any car etc seem desperate for cars these days.

 

[crooky]

Any ideas why second hand cars have increased so much, we buy any car etc seem desperate for cars these days.

Because of chip shortages. Same reason you can't buy Playstation 5s, Xboxs, Graphics cards for PCs, printers etc.

 

[wattle]

Evening guys just after some advise on the pros and cons on PCH or PCP
I'm not the most clued guy on the planet on these things and all the figures I'm looking at are mashing my head on both options

My main aim if at all possible is not to pay another deposit at the end of the lease deal as I would handing the car back and would prefer to start again on a new deal obviously without the initial payment/deposit again

Any advice would be most grateful to try and understand it a little more

So I’ve been toying with this for a year as my company lease runs out in September. I had pcp deals for 9 years then lease for the last 6. I prefer to have a new car every 3 years to avoid mot’s, increased running costs etc. I’ve just got a great deal from vanarama for a high spec vw t-cross with free insurance, maintenance package and free redundancy insurance for 295 a month. 750 up front deposit and 12000 miles a year allowance. Some really good deals on t-cross’s because they aren’t selling so well because the t-rock is more sporty looking and popular. Some great cheaper deals on other makes depending on availability due to Brexit. A toyota chr was 260 a month 6 months ago and now is 480 for the same car. Good luck anyway whatever you do. Hope that helps a little

 

[dickie davies]

Was about to ask you guys about your thoughts on PCP.
I'll be honest, I've no idea as to what PCH is though.

I've got it down to a few models I'm interested in and I'm not a huge car driver, but with family dotted over the country and kids (that I no longer live with) it's a necessity. I also kind of like cars and always have (despite often using public transport if I can). Nothing approaching ostentatious, but something that perks me up a little when I walk towards it. The current car is 14 years old and the ex has the other (also 14 years old), so I'm hardly the flash type.

Also like the kids to have a decent motor to be picked up for once and they've had an couple of years upheaval.

Saved a little recently so could probably drop 2-3k (seems that's about as much as I can doing the PCP route).

What's your monthly budget, what style of car are you looking for and what mileage do you drive in a year?