PCH vs PCP

[Taz]

HIDs car is looking terminal so considering looking at going down the lease route.

Where should I start looking ?

So many sites to choose.

Any advice/ tips welcome 👍

 

[Lord Tyrion]

As well as online sites also try your local dealer. My last two lease cars have been done through the actual dealer rather than a broker. Attack from both sides.

 

[casuk]

My bro done the same through local dealer he is now buying it through finance

 

[ManinBlack]

I recently bought a car & did the HP with my existing bank, entirely online. It took about 5 minutes to complete the application & get the funds into the dealer's account. The APR was 3.8%

 

[Dando]

I lease my car via Nationwide Vehicle Contracts and they've been great to work with

 

[Piece]

Shop around, looking at the APRs that are single figures. Some third party dealers are very high APR, so avoid if above 10% APR. I would start with Autotrader to see what's around. A fair amount of dealers will give you an *indicative* quote via their advert to give you an idea.

You can source your own finance via finance houses or your bank to get best APR, rather than get a lock-in from the dealers. You could get low single figures APR, say 4 to 8%.

PCH will be higher payment per month as there's no option to buy at the end.

 

[User2021]

I always use
https://leasing.com/

Then go to a dealer to try and match or better it.

 

[Big_G]

We've gone down the leasing road for the 1st time, my only concern is how picky they will be when we return the car after the 3 year period, unlike PCP there's no incentive for them to be generous

 

[Bunkermagnet]

I would suggest a lot depends on what type or make of car youre looking for, and whether you want it to be something you want to possibly keep or not.

 

[Dando]

We've gone down the leasing road for the 1st time, my only concern is how picky they will be when we return the car after the 3 year period, unlike PCP there's no incentive for them to be generous

I am due to return my car on 15th (and get my new one the same day) and so its just been in to the garage to repair the damage some little scrote made with his key down the driver side and to tidy up an alloy.
it cost me £250 but looking at the list of charges from the lease company I saved myself about £1K.

 

[jim8flog]

Always worth looking at the maximum mileage allowed.

My daughter had looked at leasing but found the annual mileage just ridiculous for someone who drives to work every day.

 

[Deleted Member 1156]

Always worth looking at the maximum mileage allowed.

My daughter had looked at leasing but found the annual mileage just ridiculous for someone who drives to work every day.

You can tailor the annual mileage to suit your requirements. My lease is for 15k per annum.

 

[KenL]

Try getting quotes from the likes of car Wow, orange wheels etc.

Get a best price from them and then go to dealers.

I've only used pcp not a lease so can't choose between them. A pcp may be better if you want to change before the end of the contract???

 

[backwoodsman]

I lease my car via Nationwide Vehicle Contracts and they've been great to work with

I also used these. Its my first leased car (ie PCH with no option to buy) and NVC were easy to work with.

I looked at a variety of web sites and tried out various combinations of annual mileage and contract length to see what would give me the best price. But in the end it was NVC who came out best. Always worth checking what the potential end-of-contract charges might be.

Also worth bearing in mind that the "leasing company" is really only a broker who take a fee to source the car & set up your finance arrangement. The finance agreement is with someone else - i dont know enough to know if it is always the case, but the finance is probably through the manufacturer. Mine is - ie through Skoda Finance. So, as someone else said, if you have a particular vehicle in mind, always worth going to a dealer to see what the manufacturers can do direct.

 

[GG26]

Worth looking direct at some of the manufacturer deals online and then negotiating with the dealership. I got my car on PCP with a 0% fiance deal (Mazda) and it is still possible to negotiate trade-in values and discounts with the dealer.

 

[KenL]

0% finance is also a big discount in terms of payments.