Must it be new Luke?
Does a finance deal on a 6-12 months old car with a decent remaining warranty, low mileage and 20+% less off new price not appeal at all?
The best finance deals are normally on new cars. Discounts and subsidised finance rates are the appeal. I'd rather have a new car at 0-4% than a used car at 9%+. Take a look at the VW site and their finance examples on used cars. Crazily, some of them are listed with finance available at 27%+. Mental!!!
Luckily my company have just started offering HP @ 4% on used cars for staff. We have a few good offers on low mileage cars going pretty cheap.
Glad you've raised this Luke, i purchased on PCP new when i was 17, on a Saxo, as it came with 2 yrs free insurance, which in a BD postcode at 17, enabled me to own a car. Since then i have always used a private loan if needed to change my car.
The reason being is that in my head it means i own the car and not that garage, Personal loans are pretty cheap, Tesco 5.3%, which is better than i have seen at some dealers.
The comments from yourself and Mike, have got me thinking though. I receive a car allowance each month from my company, which i do use to fund the ED30, but i suppose with it i could do a PCP, low miles, i do 8k ish a year and use the equity in my car to give me financial security or if the girlfriend realises get married
I just cant get my head around the feeling that i will never own the car or i have to hand it back at the end of 3 years etc.. and walk away with nothing, i do like owning a car outright...
