GreiginFife
Money List Winner
I will be trading mine in next year against the i4 when it's available so definitely not keeping it.
PCP help
- Thread starter spongebob59
- Start date
I will be trading mine in next year against the i4 when it's available so definitely not keeping it.
Piece
Tour Winner
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
Money List Winner
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
Journeyman Pro
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.
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
Tour Rookie
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.
One of them might even be near you.
If not, take the quote to some dealers and see who matches them.
Piece
Tour Winner
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
Tour Winner
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.
Ordered a new GTi in March, still waiting on a build date from VW.
Edit: this will be on factory orders, not stock.
Smiffy
Grand Slam Winner
spongebob59
Journeyman Pro
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.
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
Tour Rookie
Sounds good.
The Civic styling is out there but I really like them.
HP rather than PCP is a big plus. ?
The Civic styling is out there but I really like them.
HP rather than PCP is a big plus. ?
Bunkermagnet
Journeyman Pro
I bet the one at Crayford would have called you back
spongebob59
Journeyman Pro
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
Grand Slam Winner
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.
Smiffy
Grand Slam Winner
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
Tour Winner
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
Grand Slam Winner
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
Journeyman Pro
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 ?
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 ?
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