Gkinghorn
Senior Member
- Joined
- Jul 25, 2009
- Messages
- 2,808
- Reaction score
- 180
- Location
- Bournemouth
- Your Mercedes
- E350 CDI Cabriolet - 2011
the problem with all of these PCP deals is 2-fold.
1. The car is never worth what they say it will be worth at the end of the term - If you take the balloon payment you buy a car with negative equity right away.
2. If you hand it back you give up your deposit and have to save a new deposit up to buy another one. People rarely factor that in in my view.
The really ought to do zero deposit and just do the whole thing over the number of years you want the car on monhtly terms .. but they wont becuase the monthly figure will be too high for most folks and you never own it anyway.
I think unless you just buy it outright with 0% APR under one of their deals (or elsewhere) then at least you can decide when you sell it on or keep it...
PCP sucks .... tried it 4 times.. it sucks...
1. The car is never worth what they say it will be worth at the end of the term - If you take the balloon payment you buy a car with negative equity right away.
2. If you hand it back you give up your deposit and have to save a new deposit up to buy another one. People rarely factor that in in my view.
The really ought to do zero deposit and just do the whole thing over the number of years you want the car on monhtly terms .. but they wont becuase the monthly figure will be too high for most folks and you never own it anyway.
I think unless you just buy it outright with 0% APR under one of their deals (or elsewhere) then at least you can decide when you sell it on or keep it...
PCP sucks .... tried it 4 times.. it sucks...