Ron240
Senior Member
- Joined
- Jun 28, 2020
- Messages
- 2,564
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- Location
- Fife
- Your Mercedes
- Sold - 2021 CLA 35 Premium.
PCP is by far and away the most popular method nowadays of private individuals purchasing new cars, because for the majority it allows them to run models that they might otherwise struggle to afford.
When the scheme began it was for brand new vehicles only then it spread to include used also.
As already said you are basically just renting the car over a pre agreed period then starting the cycle all over again with a new one. Very few people make the balloon payment at the end of the agreement and keep the car.
I do not like PCP because once you go down that route you are effectively locking yourself into the cycle.
Actually owning your own car seems to be a rare thing thing nowadays.
Buying new is my personal preference and I do this fully aware of all the implications. Including my present one I have purchased 6 brand new cars in the past 9 years and am proud of the fact that I have owned every one of them.
When the scheme began it was for brand new vehicles only then it spread to include used also.
As already said you are basically just renting the car over a pre agreed period then starting the cycle all over again with a new one. Very few people make the balloon payment at the end of the agreement and keep the car.
I do not like PCP because once you go down that route you are effectively locking yourself into the cycle.
Actually owning your own car seems to be a rare thing thing nowadays.
Buying new is my personal preference and I do this fully aware of all the implications. Including my present one I have purchased 6 brand new cars in the past 9 years and am proud of the fact that I have owned every one of them.
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