PCP help

[GreiginFife]

Modification clause depends on the finance agreement T&Cs and also what you do at the end of term. In *my* agreement, it is clear than any modification is not permitted unless written permission of the owner is given. If given and the car is returned at PCP end, it would have to be returned to stock.

Having said this, if you mod the car and you know for definite that you will keep the car by paying off the finance totally, then no one will check and you can modify relatively risk free.

With a new car, modification affects manufacturer’s warranty, and in *my* agreement, that’s a no.

I will be trading mine in next year against the i4 when it's available so definitely not keeping it.

 

[Piece]

Hopefully all will be fine. Do you return to standard at the end of the agreement or if trading in?

Like how you are into your cars. I have a Fiesta ST, brilliant car as the handling is unreal. No interest in modifying myself but plenty people are.

With my car, it’s similar. Many people mod to take it to silly power. I’m resisting as it technically breaks my agreement, but more over, I think my car could be worth more as is. Maybe!

 

[GreiginFife]

With my car, it’s similar. Many people mod to take it to silly power. I’m resisting as it technically breaks my agreement, but more over, I think my car could be worth more as is. Maybe!

Not touched the engine on mine. All mods are mainly aesthetic (ok suspension handles better but also looks better).

Loads of M340s have been remapped, not touching that.

 

[spongebob59]

Going to be phoning around a few dealers tomorrow. I'm guessing the interest rate is fixed by the finance company so no point trying to waggle on that ?
Mazda do 0% over 2 years and 3.9 on anything else but there is a £1750 contribution.
Honda 5% + £500 dealer contribution and 5 years free servicing.

What questions should I be asking and what could I try to get in terms of other incentives and discounts.

Ta.

 

[KenL]

Go onto carwow, spec the car you want and you will get five quotes from garages within a few hours.
One of them might even be near you.
If not, take the quote to some dealers and see who matches them.

 

[Piece]

Going to be phoning around a few dealers tomorrow. I'm guessing the interest rate is fixed by the finance company so no point trying to waggle on that ?
Mazda do 0% over 2 years and 3.9 on anything else but there is a £1750 contribution.
Honda 5% + £500 dealer contribution and 5 years free servicing.

What questions should I be asking and what could I try to get in terms of other incentives and discounts.

Ta.

It is possible to get a slightly better than advertised rate with finance companies if you have an excellent credit rating. Not guaranteed though. I got a cheaper rate on a used car.

Look at the dealer contribution in terms of the overall finance package. E.g. dealer contribution may only be available on certain financial products, potentially meaning you could pay more back interest than the dealer contribution given. Compare finance products with and without contribution v interest rates.

If you are part-exing the car to help with deposit, check you know the market value of the car before taking their offer, as a low-ball offer can make up for their contribution.

Haggle away nicely on everything and don’t be afraid to walk away, citing competitive offers elsewhere.

On a PCP, you’ll need to factor in GAP insurance too. You don’t have to have it but most do for piece of mind. You can get this online cheaper from third parties.

 

[Lump]

Be very aware, lead times for new cars are mental.
Ordered a new GTi in March, still waiting on a build date from VW.
Edit: this will be on factory orders, not stock.

 

[Smiffy]

Go onto carwow, spec the car you want and you will get five quotes from garages within a few hours.
One of them might even be near you.
If not, take the quote to some dealers and see who matches them.

Ideally, before taking test drives at your local dealer.

 

[spongebob59]

So Honda car package quite good, 5 years free servicing and warranty, ( up from 3) and AA cover thrown in. £1500 off and a further £500 which covers the paint colour I wanted .
If use all the trade in from the car then HP is affordable rather than PCP and no end of term payment to worry about.
Said I'd think it over for a few day.
New shape civic due out later this year so don't know if there's any further room for negotiation ?
Mazda were meant to call today but didn't , they really are hopeless. When I went there 2 years ago they valued the car on each visit but never got back to me with a trade in figure so I went back to Honda. Looks like history repeating itself. Muppets.

 

[KenL]

Sounds good.
The Civic styling is out there but I really like them.
HP rather than PCP is a big plus. ?

 

[Bunkermagnet]

So Honda car package quite good, 5 years free servicing and warranty, ( up from 3) and AA cover thrown in. £1500 off and a further £500 which covers the paint colour I wanted .
If use all the trade in from the car then HP is affordable rather than PCP and no end of term payment to worry about.
Said I'd think it over for a few day.
New shape civic due out later this year so don't know if there's any further room for negotiation ?
Mazda were meant to call today but didn't , they really are hopeless. When I went there 2 years ago they valued the car on each visit but never got back to me with a trade in figure so I went back to Honda. Looks like history repeating itself. Muppets.

I bet the one at Crayford would have called you back

 

[spongebob59]

I bet the one at Crayford would have called you back

Their loss. We always went to TW Whites Orpington, spot on.
I get the impression they aren't bothered about working for a sale at Canterbury.

 

[Smiffy]

If use all the trade in from the car then HP is affordable rather than PCP and no end of term payment to worry about.
Said I'd think it over for a few day.

If you can comfortably afford the HP payments then I would recommend going this route rather than PCP, unless both are being offered at 0% and then I would take the PCP option.
The biggest advantage of PCP over HP is the minimum guaranteed future value.
I have highlighted the two important words, minimum and guaranteed.
From the residual value point of view you have no guarantees on a standard HP agreement, it is no different than paying cash for the car.
So if the bottom fell out of the petrol/diesel market due to massive improvements in electric vehicles over the duration of your agreement, you have the minimum part to fall back on with the PCP.
Imagine how all those Rover customers felt who had paid cash or taken out HP in 2005 when Rovers became almost worthless overnight. Those on PCP, while not exactly laughing, had the guaranteed part to fall back on.
I'm not for one minute suggesting Honda would go the same way as Rover, far from it. But it just shows you how the benefits of a PCP can outweigh the drawbacks.
So as I say, if both of the finance agreements you have been offered are at 0% and all other things are equal with regards deposit allowances etc. take the PCP.
You won't be paying any more for the peace of mind.
Oh. One final piece of advice. On a new car, take out GAP insurance. Doesn't matter who from, take it out. It is not a con, and on a large purchase like a car, it can be worth it's weight in gold. Trust me, and don't listen to the armchair experts.

 

[KenL]

@Smiffy . Is hp not better if you intend to keep the car beyond the term of the contract?

 

[Smiffy]

@Smiffy . Is hp not better if you intend to keep the car beyond the term of the contract?

Not if you are paying 0% finance Ken. If you are on PCP just pay the end payment, it's all going to work out the same financially anyway.
But you do get the minimum price guarantee for 3 years (or 4 if it's a 48 month PCP obviously).
And sometimes, even on 0% PCP you will find that the deposit allowance, if there is one, is greater as the manufacturers prefer you going on a PCP. It tends to instill loyalty to the brand apparently.

 

[backwoodsman]

Looking to trade in and get a newer,/new car.
Doesn't see to much I want in the used market so was thinking of taking the plunge into the new market but having never bought on
pcp so I've got a few questions if someone could help.
...
Who pays the road tax ?
Can you put a personal plate on the car ?
....

Mazda dealers offering a 0% pcp deal for two years but I guess then in

Thats alm for now ?

I see no reason why not. I have my car on PCH - which is not the same as PCP and simply a long term hire. I don't own the car & never will. But the "rules" still allow me to put on a personal plate. I just have to ask first.

 

[Smiffy]

Absolutely no problem at all with putting a personal plate on a car on PCP. It's hire purchase by another name. If it's being put on prior to collection, the dealer concerned will enter that reg number on the finance document. If done after delivery, it's just advisable to phone the finance company so that they can update their records. But ultimately they'll have the chassis number to go on if things go pear shaped in any way.

 

[spongebob59]

I've got GAP on the current car so will just transfer over.
Might ring round other dealers just to see what they'll offer, it's Honda finance so numbers won't change by much, but might see if I can get the autoglym paint protection as a freebie.

Will wait and see if Mazda can be bothered ?