PCP or PCH car leasing?

inbetween said:
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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Pcp isn't leasing. You are the registered owner of the car.

In terms of buying nearly new on pcp, make sure you compare interest rates compared to new. I always get 0% interest on my new pcp cars and they work out similar/cheaper than getting a nearly new car at 6.9% interest or whatever it is.
 
Uncle Wally One Ball said:
It is lunacy to me. Each to their own as you say. Im not having a go mind, millions do it so they must see something in it. Not for me. Mental
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As a couple we don't drink and dont smoke but like to change the car every 3 years so that's our little treat..like ya say loads do it some like yourself think it's bonkers...but on a personal point of view if the option is there to take a shiny new toy every 3 years or possibly less I'd rather do that than look at a 3 year old car and be paying out roughly the same monthly on it as new.. Some have company cars and don't own it but paid thousands on it over the 3 years before it's re fleeted
 
inbetween said:
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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Anyone have a spare five mins over the next few days for a bit of help on this?

I'm at the point where I'm struggling a bit without a car (post separation/restarting in life).
The kids now live arounds 3 miles away and although I walk every where this isn't always an option. I've also started to (and wish to do far more) weekend trips.
My daughter struggles with anxieties (she's autistic) so can't get her on a train but there's so many more reasons I need a car.

Posted on the Electric Car thread that at the moment an EV isn't really an options (cost and I won't have home charging given I live in a flat).

Had a recent promotion at work (relatively new career so hoping these progressions continue) so have. bit of extra cash each month and absolutely believe having a car will solve so many problems and open up a bit of freedom for me.

With that in mind (and no real deposit) I was thinking of leasing but not 100% on which 'flavour'.
I have the VW T-roc in mind (and I feel the decision is part mind part heart...there's a fair bit to pay out for something you're not truly fond of).

I did stick a post about this on the main VW forum (volkswagonforum.co.uk) but complete tumble weed in terms of responses.
I might drop something on Honest John.

But if anyone doesn't mind PM'ing if they get a moment to help I'd be most grateful. I don't have a great history of cars so could do with a bit of ammo lest I don't get the best deal at the dealers.

Thanks!!
 
It must be an age thing.. I’ve got a new car due in October sometime and I’m going down the cash route.. the only challenge is selling mine once the delivery date is confirmed.. I can’t justify an expensive lease / rental agreement when the cash is doing next to nothing in the bank

I’m open to persuasion though
 
somapop said:
Anyone have a spare five mins over the next few days for a bit of help on this?

I'm at the point where I'm struggling a bit without a car (post separation/restarting in life).
The kids now live arounds 3 miles away and although I walk every where this isn't always an option. I've also started to (and wish to do far more) weekend trips.
My daughter struggles with anxieties (she's autistic) so can't get her on a train but there's so many more reasons I need a car.

Posted on the Electric Car thread that at the moment an EV isn't really an options (cost and I won't have home charging given I live in a flat).

Had a recent promotion at work (relatively new career so hoping these progressions continue) so have. bit of extra cash each month and absolutely believe having a car will solve so many problems and open up a bit of freedom for me.

With that in mind (and no real deposit) I was thinking of leasing but not 100% on which 'flavour'.
I have the VW T-roc in mind (and I feel the decision is part mind part heart...there's a fair bit to pay out for something you're not truly fond of).

I did stick a post about this on the main VW forum (volkswagonforum.co.uk) but complete tumble weed in terms of responses.
I might drop something on Honest John.

But if anyone doesn't mind PM'ing if they get a moment to help I'd be most grateful. I don't have a great history of cars so could do with a bit of ammo lest I don't get the best deal at the dealers.

Thanks!!
Click to expand...
Not really what you asked, but are car sharing/renting apps an option? I don't have a car (nor kids, which makes things easier), but when I really need one, I have an app that shows cars to rent. There's an electric one just round the corner that I rent fairly regularly, and it's way cheaper than owning if it's only something you'll need occasionally. Obviously if you have to deal with stuff like kids' car seats, then it'd be nicer to have your own.
 
Bluemanc100 said:
It must be an age thing.. I’ve got a new car due in October sometime and I’m going down the cash route.. the only challenge is selling mine once the delivery date is confirmed.. I can’t justify an expensive lease / rental agreement when the cash is doing next to nothing in the bank

I’m open to persuasion though
Click to expand...

What is the age thing?
 
I'm With Stupid said:
Not really what you asked, but are car sharing/renting apps an option? I don't have a car (nor kids, which makes things easier), but when I really need one, I have an app that shows cars to rent. There's an electric one just round the corner that I rent fairly regularly, and it's way cheaper than owning if it's only something you'll need occasionally. Obviously if you have to deal with stuff like kids' car seats, then it'd be nicer to have your own.
Click to expand...
How long do you rent it for?
What is the approx cost for it?
 
Saw the headline and though it was about.
"Angel Dust or PCH Car leasing, which one is less mither on your mental state"
 
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