What's your budget?

[Tom 2000]

Budget? Somehow £5k a year lodged in my head. I reckoned I could drive it for 10 yrs and meet that objective. But then again?

[Pivot]

I was concerned about the financial witchcraft of PCP so I paid 50% deposit and I financed the rest on HP, no residual nonsense. That way I kept cash for other stuff and got meself a Porsche.

[Tom 2000]

I was concerned about the financial witchcraft of PCP so I paid 50% deposit and I financed the rest on HP, no residual nonsense. That way I kept cash for other stuff and got meself a Porsche.

Yeah when they produced figures to show i was mad to put money into it I thought F*&k this Sh!t, get out of here and go get the money myself.

[neilj007]

I'm not yet retired, but at that age where friends start to leave this earth...life is short so enjoy....

[Wing Commander]

Yeah when they produced figures to show i was mad to put money into it I thought F*&k this Sh!t, get out of here and go get the money myself.

Stop sitting on the fence, Tom. Tell us what you really thought!

[Panthera]

I looked at PCP but the interest rates are exorbitant compared to a straight loan. I appreciate it's a mechanism to get into a more expensive car than you would normally have been able to afford paying cash/HP but there's no reason for the interest rates themselves to be so high.

I also think PCP has pushed up the retail price of cars; the latest Fiesta ST is circa £25k! I know there's a lot more kit in new cars these days but I still think there's a link to retail price & PCP making them "affordable". I also read that PCP is the next finance disaster waiting to happen...

https://www.thisismoney.co.uk/money/car ... deals.html

[Miopyk]

My way of looking at affordability is, if I buy it will it stop us doing all the other things we want to do. If the answer is no I buy it.

[Pivot]

I think PCP made premium cars more accessible to the majority of buyers, but at a hidden incremental cost. It is to be used responsibly.

It probably makes good sense to fleet-runners, or company cars, but I wonder where are all the returned cars going? It would have to go to the RHD market, so mainland Eurp is not an ideal dumping ground.