PCP or PCH car leasing?

STOCKPORT'S INIESTA said:
Morning pal...I started the thread on this originally and in the end decided to go down the pcp route as it suited our own personal circumstances better and was a no brainer..

Sold my old car to we buy any car as no finance was owed on it as they offered 1300 quid more than the dealer in px...i then managed to get kia Oldham to loan me a car as part of the deal to take a brand new Sportage till ours was registered and ready for collection which they did for 7 days as we were going away and the car loaned had no mileage restrictions on it....1000 deposit in and 2500 kia dealer contribution...2 years free servicing and after 3 years chip it back in against another with potentially no deposit or a grand max again.... I would advise not to put a big deposit in as all it's doing is reducing ya monthly payments and you don't see it back when you go back to chip it back in after the agreed term or earlier ..when we sat down and worked it out deposit wise it worked out about an extra 30 quid per month per grand in deposit...so if ya put 3000 in would reduce ya payment roughly about a ton a month...we were obviously comfortable putting the lower deposit in and a slightly higher monthly and banking the extra 6 grand still left out of the old car once deposit was paid...in the end it worked out we are paying 300 a month for 3 years with only a grand in...if we were to of put 3500 deposit wise worked out the monthly was about 215 to 225 ish per month hence why we decided to bank the bigger balance as it didn't make that much difference to the monthly

Obviously with pcp all you are doing is paying the depreciation of the car over the agreed term..hope this helps in someway to making a decision
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fuck all that. Way too much faff
 
STOCKPORT'S INIESTA said:
Morning pal...I started the thread on this originally and in the end decided to go down the pcp route as it suited our own personal circumstances better and was a no brainer..

Sold my old car to we buy any car as no finance was owed on it as they offered 1300 quid more than the dealer in px...i then managed to get kia Oldham to loan me a car as part of the deal to take a brand new Sportage till ours was registered and ready for collection which they did for 7 days as we were going away and the car loaned had no mileage restrictions on it....1000 deposit in and 2500 kia dealer contribution...2 years free servicing and after 3 years chip it back in against another with potentially no deposit or a grand max again.... I would advise not to put a big deposit in as all it's doing is reducing ya monthly payments and you don't see it back when you go back to chip it back in after the agreed term or earlier ..when we sat down and worked it out deposit wise it worked out about an extra 30 quid per month per grand in deposit...so if ya put 3000 in would reduce ya payment roughly about a ton a month...we were obviously comfortable putting the lower deposit in and a slightly higher monthly and banking the extra 6 grand still left out of the old car once deposit was paid...in the end it worked out we are paying 300 a month for 3 years with only a grand in...if we were to of put 3500 deposit wise worked out the monthly was about 215 to 225 ish per month hence why we decided to bank the bigger balance as it didn't make that much difference to the monthly

Obviously with pcp all you are doing is paying the depreciation of the car over the agreed term..hope this helps in someway to making a decision
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With an industry leading seven year warranty why even hand it back mate. When due just pay the final residual owed and then continue to enjoy worry free motoring for many more years to come.

As an aside there's a wonderful alternative to Webuyanycar by simply taking it the open market vIa Motorway where you'll nearly always beat the competition. Having said that I don't think you were hard done by achieving £1300 above dealer p/ex.

Motorway offers a free quotation and sets a reserve price with no pressure to sell. Your vehicle will be offered to the trade nationwide and in a lot of cases will way exceed the reserve price set. Nothing to lose and everything to gain with no charges to be payed out like most of the outfits out there.

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Motorway is rated "Excellent" with 4.5 / 5 on Trustpilot

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Motorway

Anyone tried them? https://Motorway.co.uk/ https://uk.trustpilot.com/review/motorway.co.uk We were not in the market to sell but remained somewhat inquisitive after a mailshot. Entered our cars details into Evan Halshaw and Webuyanycar.com sites for a guideline then entered our details to the...
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GoatersLeftShin said:
Cheers @STOCKPORT'S INIESTA !

Did you go through the Kia dealer in Oldham? Do you have to have them service it or can you get it done at any garage?

Last one, have you handed it back? How was it?
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Hiya pal.. this is my 1st pcp deal bud.. servicing will be done by kia as I get the 1st 2 services free as part of the deal I managed to get out of them for me to sign on the dotted line plus car will be handed back before it's 1st MOT and 3rd service is due so 3 years free motoring in a round about way before it goes back...
 
GoatersLeftShin said:
Thought I'd bump this up as our car is on the blink as we're just starting to look at a few options.

I've always bought 3 year old cars and in the past around 10-13k has always got us a decent car (BMW etc). However, looking at the prices now we would be looking at paying nearly 20k for the same car! The prices have shot through the roof and I don't want to pay that kind of money for a 2nd hand car.

I've started to look at leasing and it seems a good deal, but where's the catch? My biggest fear is that I rent a car for 4 years then get hammered with MOT from the garage as well as getting hammered with services too. Also, when you hand it back it will need hundreds spending on it because of minor scratches etc and a long argument with the lease company. Are my fears right?

Has anyone got any recommendations on where to go?
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There are two types of 'leasing', the first is PCP which is the kind you'll get at a car dealer where you pay a deposit, pay monthly and then get X number of miles usually over 3-4 years. After that time is up you can buy the car (by paying the final payment), or you can give it back and walk away, or you can 'sell' it to the dealer and put any equity towards a new one. The equity is any excess from the value of the car vs what you owe.

The second type is the true leasing (PCH) that you see on online websites. Be careful here because these are basically hire cars where you pay a deposit, pay monthly and get X number of miles over 3-4 years. The catch is after the time is up you give the car back and that's it everything that you've paid is gone with it (no equity or option to buy the car).

On either type you'll be responsible for servicing and MOT's but don't forget that no MOT is required until a car is 3 years old. Sometimes servicing is included, sometimes the first MOT is included, it depends really who you go with but usually neither is included.

My tip is to have a look at the dealers approved used website for any cars that you like because most dealers will do them on PCP. I got my BMW X2 on PCP which was 1 year old, 3,000 miles and was ex-demo so has all the extras. It was about £6k cheaper than a brand new one. I didn't have any problems trading in my previous car, they don't care as they'll usually just throw them out to auction.
 
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