Sarnie Posted June 22, 2012 Share Posted June 22, 2012 Brand new, just was a demo model, so had been tested a few times, barely 50 miles on the clock though, otherwise he would have paid £54k or something, he got a bargain! Not brand new then..... Like new would perhaps be more accurate. However, that's splitting hairs. My point was it was a physical car that had been driven by others (however briefly) and not a factory order. Im not seeing what your trying to get at? If it was from the factory, it would have cost £54k, if it was on PCP he would have had to pay roughly £25k for 3 years,. What he is getting at is that you said it was "brand new" but then stated it was a demo, which are not the same thing. If he had bought it brand new, it would have been £54k as you pointed out yourself. If your dad had got it on PCP he would have had a new car (£54k) and the £25k lease payments would have brought the figures almost exactly in line with your proposed current value of £30k............... Quote Link to comment Share on other sites More sharing options...
Stew Posted June 22, 2012 Share Posted June 22, 2012 Brand new, just was a demo model, so had been tested a few times, barely 50 miles on the clock though, otherwise he would have paid £54k or something, he got a bargain! Not brand new then..... Like new would perhaps be more accurate. However, that's splitting hairs. My point was it was a physical car that had been driven by others (however briefly) and not a factory order. Im not seeing what your trying to get at? If it was from the factory, it would have cost £54k, if it was on PCP he would have had to pay roughly £25k for 3 years,. What he is getting at is that you said it was "brand new" but then stated it was a demo, which are not the same thing. If he had bought it brand new, it would have been £54k as you pointed out yourself. If your dad had got it on PCP he would have had a new car (£54k) and the £25k lease payments would have brought the figures almost exactly in line with your proposed current value of £30k............... Exactly. Quote Link to comment Share on other sites More sharing options...
Drayvn Posted June 23, 2012 Share Posted June 23, 2012 Brand new, just was a demo model, so had been tested a few times, barely 50 miles on the clock though, otherwise he would have paid £54k or something, he got a bargain! Not brand new then..... Like new would perhaps be more accurate. However, that's splitting hairs. My point was it was a physical car that had been driven by others (however briefly) and not a factory order. Im not seeing what your trying to get at? If it was from the factory, it would have cost £54k, if it was on PCP he would have had to pay roughly £25k for 3 years,. What he is getting at is that you said it was "brand new" but then stated it was a demo, which are not the same thing. If he had bought it brand new, it would have been £54k as you pointed out yourself. If your dad had got it on PCP he would have had a new car (£54k) and the £25k lease payments would have brought the figures almost exactly in line with your proposed current value of £30k............... Ohhh right, you misunderstood me then, it's £30k NOW, as in 5 years after he bought it, in 2010 we looked at upgrading as we fancied the 4.4 TDV8 but it only came in the Vogue so i looked at used prices then at it was roughly £38k. So after 3 years of PCP you'd have spent £25k If you bought outright and sold at second hand, you'd have only lost £16k to depreciation. Sorry if i didn't word it right! Quote Link to comment Share on other sites More sharing options...
Sarnie Posted June 23, 2012 Share Posted June 23, 2012 Brand new, just was a demo model, so had been tested a few times, barely 50 miles on the clock though, otherwise he would have paid £54k or something, he got a bargain! Not brand new then..... Like new would perhaps be more accurate. However, that's splitting hairs. My point was it was a physical car that had been driven by others (however briefly) and not a factory order. Im not seeing what your trying to get at? If it was from the factory, it would have cost £54k, if it was on PCP he would have had to pay roughly £25k for 3 years,. What he is getting at is that you said it was "brand new" but then stated it was a demo, which are not the same thing. If he had bought it brand new, it would have been £54k as you pointed out yourself. If your dad had got it on PCP he would have had a new car (£54k) and the £25k lease payments would have brought the figures almost exactly in line with your proposed current value of £30k............... Ohhh right, you misunderstood me then, it's £30k NOW, as in 5 years after he bought it, in 2010 we looked at upgrading as we fancied the 4.4 TDV8 but it only came in the Vogue so i looked at used prices then at it was roughly £38k. So after 3 years of PCP you'd have spent £25k If you bought outright and sold at second hand, you'd have only lost £16k to depreciation. Sorry if i didn't word it right! All that information would have been useful in your first post Quote Link to comment Share on other sites More sharing options...
stuarty Posted June 24, 2012 Share Posted June 24, 2012 I posted a thread about these sorts of schemes a few years ago when I was looking at getting some sort of Audi/BMW estate for the family. But, if I'm honest, I just don't 'get' it. I work in Finance so I understand how the contracts work, I'm just yet to see one that I can actually see a benefit to?? From what I can see, they all consist of you driving around in a car you couldn't normally afford to purchase, so you rent it for three years and then give it back........meaning that when you give it back you have nothing to show for it apart from spending over £10k in rent Cant really comment on anyone else's agreements, but i can buy my car after the 4 years for well under 10k. I think thats not a bad price for a car that only ive owned and has probably only done about 20 k miles! Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted June 28, 2012 Share Posted June 28, 2012 Car dealers make a nice bit of commission from PCP. As you may have read on another post ive just bought a BMW 123d M-Sport Coupe. The salesman was bending over backwards trying to get me to go for PCP. His calculations were, the car new was about £33k. So he was saying, £10k up front, then something like £285 a month over 3 years and at the end of 3 years I could hand the car back to them and walk away with nothing, or give them an agreed value for the car of £12k or whatever it worked out at. Or alternatively, pay £600 (or something like that) a month, then at the end of the 3 years, give them the car back as a deposit on a brand new one, and carry on the process. He even went as far as to say the interest rate on the deal was unbeatable at 4% and that id get more than that on the interest on the £23k id keep in the bank over those 3 years. So I thought about it long and hard and couldnt really see how loosing £20k in 3 years was appealing whichever way I looked at it, nor forking out £600 a month just to get a new car. I even looked at contract hire, but they were coming in at more than the £600 a month when you factored in the spec & mileage. So, in the end I went for the buy outright for cash option as for me it was the cheapest option. I also went for a 6 month old car with 2000 miles on it, so basically as new but without the initial depreciation. Looking at 3 year old cars for sale, i wont be loosing anything like the £20k the PCP was offering me. I agree though that for some people PCP or contract hire is by far the best option. Quote Link to comment Share on other sites More sharing options...
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