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Author Topic: PCP v Lease  (Read 1402 times)

Offline berg

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PCP v Lease
« on: April 02, 2015, 09:00:00 am »
Hi guys, have never bought anything on finance except a house so dont know much about apr's and balloons!

What are the advantages of a PCP over a lease apart from you can buy it if you want to? Is that the only one as monthlys are more expensive always aren't they?

Thanks
Diamond Black Pearl Edition 30, still going strong but now back to Stg 1

Offline GTD

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Re: PCP v Lease
« Reply #1 on: April 02, 2015, 09:15:57 pm »
Check 5th gear tonight on history. Talking about deals just now!  :happy2:

Offline berg

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Re: PCP v Lease
« Reply #2 on: April 05, 2015, 02:38:14 pm »
doh missed it, thanks anyway
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Offline Bane

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Re: PCP v Lease
« Reply #3 on: April 05, 2015, 06:40:48 pm »
Oddly enough, I came on here to ask a similar question.
I've been looking at the PCP deal as way to buy a new Golf.
In a nutshell.you order the car in your spec, pay a deposit then agree on a final value, an agreed mileage,then pay a monthly amount.At the end of the period, you pay it off and you own the car,chop it for a new model or finish the contract and walk away.
VW are also offering a £725 pound deposit contribution and 2 years free servicing as well, on a MK7 GTI .
Downside is that you never actually "own" the car,with it being a contract between you and VW finance and you run the danger of being in a cycle of forever paying VW for cars you wont actually own if you continually change every few years.
If you don't mind this, then it seems to be a decent deal,although I can't help but feel that there's a catch somewhere. :grin: