No/Low deposit PCP deals?

ShadowMan · 29 Jun 2019 at 20:51

There is nothing inherently wrong with a 0 or minimal deposit pcp as long as you are happy with the total cost of purchase. Infact as the total payable across a pcp deal is a fixed amount plus interest then when companies like Ford are offering 0% PCP it seems daft to front up cash to only reduce your payment if it is affordable anyway.

A Ford Fiesta is available on a decent discount deal currently with 0% over 3 years. Ford are struggling to sell in current markets and new car sales are generally down. They are discount and offering incentives like all manufacturers but they do offer 0% on most of their range. Only the higher end and bottom end models seem to attract interest.

Someone at work was quoted around £250 a month for a Ford Focus Zetec with a few options and 6k per year PCP with only a small holding deposit. 0% interest and incentives meant he was getting a good chunk off list up front and then just spreading rest down to GMFV over 36 months.

NVP · 29 Jun 2019 at 21:05

Something like this: clicky and put it on an interest free credit card for 2.5yrs or a car loan from the bank or even asda will do you 2.8% on a 5k loan, this shouldn't cost more than pcp etc.

ultralaser · 29 Jun 2019 at 22:21

NVP said:
Something like this: clicky and put it on an interest free credit card for 2.5yrs or a car loan from the bank or even asda will do you 2.8% on a 5k loan, this shouldn't cost more than pcp etc.

I hate to say it, but damn I'd rather bankrupt myself than drive that ca4pbox

NVP · 29 Jun 2019 at 23:31

ultralaser said:
I hate to say it, but damn I'd rather bankrupt myself than drive that ca4pbox

Add a grand: clicky_2

AHarvey · 30 Jun 2019 at 07:37

Draeger said:
Head gasket gone. It's a 2008 in good condition but not worth repairing, cost wise. Time to move on and grab something newer and more reliable. We fitted new brake discs pads and wheel bearings a few months ago plus a new exhaust front to back as well as an alternator and drive belt. Getting to the stage that the money thrown at it isn't worthwhile anymore.

You're looking at this the wrong way. It's not what the car you've got is worth compared to repairing it, it's what the repairs are worth vs buying another one.

A headgasket going, and in some cases a complete new engine is still cheaper than buying a new car.

It would make sense to repair it considering all the new bits it's had.

EDIT: Why not look at a small bank loan and get a slightly newer car, say a 2010 Polo or similar. Can be picked up from £3k and will be a nice improvement over the Pug

Joe T · 30 Jun 2019 at 09:16

A nil deposit finance arrangement often implies that the buyer does not have a lot of cash sitting around. Therefore if circumstances should change are the monthly payments still going to be affordable without such a buffer being available?

Case in point:

Firestar_3x said:
https://www.bbc.co.uk/news/business-your-money-48776454

I dont know the exact circumstances of the OP, so it's not necessarily aimed at them.

Funky-Melon · 2 Jul 2019 at 11:35

Neither of these are too bad.

https://www.martins.uk.com/renault/new-car-offers/renaultclio/

Or this

https://cars.suzuki.co.uk/new-cars/...WjFaSiclucfpRWU4bj6bJHC33UOT2oJ8aAo8mEALw_wcB

Swift for £150 upfront and £150 per month.

Draeger · 6 Jul 2019 at 17:27

Picked up a C3 Flair Nav Edition this morning as a second car for the missus for a cracking price on PCP. Stumped up a £500 deposit as the deal was too good to pass up on a car right on my doorstep. Not everyone's cup of tea but spec and value wise its good and the looks are quirky but growing on me.

[TW]Fox · 6 Jul 2019 at 18:09

What was the deal then?

mr tommo · 7 Jul 2019 at 15:24

Be interested to see the figures on that, currently available on a 1+35 lease @ £180 inc VAT on leasing.com. We almost went for one a few months back but they are always around this price.

Freakbro · 7 Jul 2019 at 16:04

AHarvey said:
EDIT: Why not look at a small bank loan and get a slightly newer car, say a 2010 Polo or similar. Can be picked up from £3k and will be a nice improvement over the Pug

Though small bank loans like that attract a high level of interest. Usually once you get under £7.5k the rate starts to rise again.

Eg. Lloyds have a £7.5k loan at 3.9%, £5k at 15.4% and £3k at 24.9%!

Adam · 7 Jul 2019 at 16:19

Oh god, it's not even new.

Martynt74 · 8 Jul 2019 at 10:15

Freakbro said:
Though small bank loans like that attract a high level of interest. Usually once you get under £7.5k the rate starts to rise again.

Eg. Lloyds have a £7.5k loan at 3.9%, £5k at 15.4% and £3k at 24.9%!

Christ those are rotten! We borrowed around £3.5k at around 3.4% a few months back so definitely some deals still around.

Duke · 8 Jul 2019 at 10:51

/gets popcorn

matthab · 8 Jul 2019 at 12:00

Duke said:
/gets popcorn

Can I share? This always goes well...

Duke · 8 Jul 2019 at 21:19

matthab said:
Can I share? This always goes well...

Of course, I always bring a skip load for motors threads

ultralaser · 8 Jul 2019 at 21:40

Just adding I'd love to know what the deal was too.

I suspect around 4.5K over two years

Felix · 9 Jul 2019 at 08:50

It's from Arnold Clark. Take a look at their website for the "deals"

SS-89 · 9 Jul 2019 at 16:38

I can see why he probably won't post, look at the rabid excitement of the people ready to pick apart the 'deal'. It's probably rubbish but who cares, clearly he is happy with it.

Cleisthenes · 9 Jul 2019 at 16:59

SS-89 said:
I can see why he probably won't post, look at the rabid excitement of the people ready to pick apart the 'deal'. It's probably rubbish but who cares, clearly he is happy with it.

Absolutely this.

I'd never actually post the deal if I'd seen the carnage of this thread before hand!