PCP finance.

bazz26

rob316 wrote: »

ok I'm going for the tucson. price agreed and pcp approved the only thing that is stopping me pulling the trigger is the time of the year. Like should I wait till January or would I get a better deal on a 162 in December? or does it make much of a difference if I buy tomorrow.

If you have an old car to trade-in then yes the trade-in value may well be less come the end of the year or January.

mickdw

You would want to be mad buying a new car this time of year.
A 162 is a 2016 plate and the trade value them as 2016. Full stop.
you will be going back in 3 years with what the trade will view as a four year old car.

carsfan2

If you're keeping the car longer than 3/4 years and can get better deal now than January surely may as well buy now though mick?

mickdw

carsfan2 wrote: »

If you're keeping the car longer than 3/4 years and can get better deal now than January surely may as well buy now though mick?

I see little upside in buying late in year. Yes if keeping long term it's possibly worth looking at a good deal on a late registration but otherwise no.
My parents bought a super nice spec pre reg zero mile passat a few years back. It was registered in September but they got alot of spec and good discount. Happy with the deal but on trading in it cost them 4k more to change versus a car registered just 3 months later would have.

Toyotafanboi

mickdw wrote: »

My parents bought a super nice spec pre reg zero mile passat a few years back. It was registered in September but they got alot of spec and good discount. Happy with the deal but on trading in it cost them 4k more to change versus a car registered just 3 months later would have.

It probably would have cost them €4k more to buy an unregistered Passat in the new year though.

mickdw

Toyotafanboi wrote: »

It probably would have cost them €4k more to buy an unregistered Passat in the new year though.

Something close but that is my point really. There is little upside in buying late and if no savings being made, it's alot nicer to have your new car at start of year.
If forced into buying towards year end, I'd happily take a used 161 with a significant saving instead.

Gael23

What's the application criteria for PCP?

Rodar08

Hiya. Wee question. Might be silly but hey ho that's how learning is done. So we have a corolla banger 00 but going strong Nct n taxed and an 11 Vauxhall Meriva. We're looking at the c-hr new. So would the Toyota dealer talk to us about Scrappage for the Corolla and a trade in for the Vauxhall? And also a deposit if need be? Or is that not a thing?
We do need a second car but we just want to go for an old car c2006 ish.

Lantus

Rodar08 wrote: »

Hiya. Wee question. Might be silly but hey ho that's how learning is done. So we have a corolla banger 00 but going strong Nct n taxed and an 11 Vauxhall Meriva. We're looking at the c-hr new. So would the Toyota dealer talk to us about Scrappage for the Corolla and a trade in for the Vauxhall? And also a deposit if need be? Or is that not a thing?
We do need a second car but we just want to go for an old car c2006 ish.

Can't see a scrappage deal for Toyota? Car may just be too old. If your ramping up the deposit in any pcp deal then it's better to finance the outstanding after 3 years and buy the car.

Expensive cars have expensive deposits and monthly payments which can adjust by a considerable margin after 3 years.

I.e if you drop 8k as your deposit your monthly is 370. If you drop 4k deposit your monthly is 500.

However, your equity will be the same after 3 years irrespective of your initial deposit. So if the expected equity is roughly 4k that is your new deposit. Assuming a similar car your monthly will be the new higher price which may be a shock. It may not be an issue. Either way you should be aware if it.

As low an interest rate as possible is desirable. Vw and Skoda operate near to zero. That makes buying a new car outright a good option using pcp. You only pay capital for half the cars value and then interest on the smaller portion left over. the c hr looks great however.....

Rodar08

Thanks very much lantus. Very helpful and Some things to think about. We really love the c hr so fingers crossed for that. Yeah you're right, I don't think there is a Scrappage deal with Toyota at the minute. I was actually expecting much lower monthly repayments. More in line with 250 monthly. So excluding extras, going with trading in and adding a deposit of c5k? I'm new to this buying straight off the rack malarkey so I'm still learning. So excited though. Eeek

grogi

Rodar08 wrote: »

Hiya. Wee question. Might be silly but hey ho that's how learning is done. So we have a corolla banger 00 but going strong Nct n taxed and an 11 Vauxhall Meriva. We're looking at the c-hr new. So would the Toyota dealer talk to us about Scrappage for the Corolla and a trade in for the Vauxhall? And also a deposit if need be? Or is that not a thing?
We do need a second car but we just want to go for an old car c2006 ish.

Scrappage is a fancy marketing name for a guaranteed value trade-in. Toyota is not running one at the moment, but they will take the corolla for 2017 no problem - that's the whole point of scrappage - to appeal to people with old, almost worthless cars...

When it comes to trading-in the Meriva - you'd need to talk to the dealer, but I am 104% certain that you'd make a better deal selling it privately - after the scrappage the dealer won't have any margin to offer you good figure for that car...

colm_mcm

Just buy a used juke if you like the chr but don't wanna pay that much money.

It's a new model. The dealers will be wanting their margin on them while they can get it.

grogi

colm_mcm wrote: »

Just buy a used juke if you like the chr but don't wanna pay that much money.

Even Toyota failed at making a car uglier than Juke...

colm_mcm

grogi wrote: »

Even Toyota failed at making a car uglier than Juke...

They were obviously looking very closely at the juke when they designed it though.

The juke has grown on me TBH.

grogi

colm_mcm wrote: »

They were obviously looking very closely at the juke when they designed it though.

The juke has grown on me TBH.

On me to - it is outside of puke territory now, simply ugly atm...

On a serious note, Juke is smaller than the C-HR, which is as big as a QQ (take or give a centimeter...) So it is not really apples to apples...

bazz26

The next Juke is going to a bit bigger than the current model too though.

Rodar08

I see. So would it be a good idea to ask which car they'd give us the better deal in because we've tried to sell the Meriva on done deal and not a hope so far. We will branch out and put it on other places but we weren't bothered if it sold or not up until now so we'll get it out there properly soon.

bazz26

With PCP the most deposit you can pay is 30% of the price of the new car afaik. If you're using the Meriva as the PCP deposit and it's worth more than 30% of the value of the new car then the dealer should be giving you the difference back. Not sure if they would favour that though.

Lantus

bazz26 wrote: »

With PCP the most deposit you can pay is 30% of the price of the new car afaik. If you're using the Meriva as the PCP deposit and it's worth more than 30% of the value of the new car then the dealer should be giving you the difference back. Not sure if they would favour that though.

At 30% deposit the monthly will be the smallest possible over 3 years. But after 3 years your monthly will increase hugely if you swap for a new car.

Sam Kade

I reckon we will see a glut of 3 year hyundai tucsons for sale in 2019, every Tracey Danelle and Harriet are buying them most on pcp no doubt.

colm_mcm

It was the top selling car in the country last time I checked, so youll have that I suppose.
I don't think they were doing any 0% finance, but they were giving €4K off a brand new model from launch.

bazz26

3 years ago the Nissan Qashqai was king of the car sales charts, doesn't seem to have damaged resale values too much.

26000 Elephants

bazz26 wrote: »

3 years ago the Nissan Qashqai was king of the car sales charts, doesn't seem to have damaged resale values too much.

Every second car through wilsons or merlin auctions seems to be a cashcow. They can be had cheap enough.

Atlantic Dawn

Sam Kade wrote: »

I reckon we will see a glut of 3 year hyundai tucsons for sale in 2019, every Tracey Danelle and Harriet are buying them most on pcp no doubt.

I suppose once they are still reliable and the warranty transfers the demand will remain but pricing is likely to completely tank especially if there's easy access to PCP finance in 2019 for anyone with cash left for the deposits.

mickdw

Sam Kade wrote: »

I reckon we will see a glut of 3 year hyundai tucsons for sale in 2019, every Tracey Danelle and Harriet are buying them most on pcp no doubt.

I hope they absolutely tank. Every gobsh1te seems to have bought one and they seem to believe they are in a premium car just cause it is alittle high up. Imo all these high cars are overpriced.

jca

mickdw wrote: »

I hope they absolutely tank. Every gobsh1te seems to have bought one and they seem to believe they are in a premium car just cause it is alittle high up. Imo all these high cars are overpriced.

Exactly. What makes me laugh is the people who bought them only ever drove crocks with bald tyres before getting the new "jeep"

ShadowHearth

Looked at more pcp deals amd looks like a lot of scrapage and 0% going around.
Nissan doing 4k scrapage deal on Nissan leaf. In fine print: 10k kms per year millage.... Wtf? Do they even allow car driven?!
What's usual millage per year restriction? How big penalties for going above?

Gael23

ShadowHearth wrote: »

Looked at more pcp deals amd looks like a lot of scrapage and 0% going around.
Nissan doing 4k scrapage deal on Nissan leaf. In fine print: 10k kms per year millage.... Wtf? Do they even allow car driven?!
What's usual millage per year restriction? How big penalties for going above?

It's only a few euro every month to increase it to 15k which would be roughly average mileage

Falcon L

Oddly enough, on some of the deals it's cheaper to agree 10k kms, do 15k and pay the penalty.

acronym Chilli

jca wrote: »

Exactly. What makes me laugh is the people who bought them only ever drove crocks with bald tyres before getting the new "jeep"

You can imagine what state the vehicle will be in after those types. I don't care if there's a service package, if the regular driver/owner is negligent, stuff will be let go wrong.

Brian Scan

mickdw wrote: »

I hope they absolutely tank. Every gobsh1te seems to have bought one and they seem to believe they are in a premium car just cause it is alittle high up. Imo all these high cars are overpriced.

Good man.

Brian Scan

jca wrote: »

Exactly. What makes me laugh is the people who bought them only ever drove crocks with bald tyres before getting the new "jeep"

Interesting generalization.

jca

Brian Scan wrote: »

Interesting generalization.

Tucson owner?

Brian Scan

jca wrote: »

Tucson owner?

No.

jca

Brian Scan wrote: »

No.

Just looking for an argument?

GustavoFring

jca wrote: »

Just looking for an argument?

To be fair as a nation we wouldn't be known for car care. It's as likely any new car is looked after in the same way as any older car. Because they're coming from an old crock doesn't mean they're any different to the owners of a lot of new cars down the years.

Grueller

mickdw wrote: »

I hope they absolutely tank. Every gobsh1te seems to have bought one and they seem to believe they are in a premium car just cause it is alittle high up. Imo all these high cars are overpriced.

Not to take the thread further off topic, but the reason Imo that they are selling well is that the driving position offers excellent comfort and visibility particularly for those like my parents who have three false hips between them. At the other end of the scale the are easy for getting kids in and out of and for strapping into child seats without going all the way to MPV. Many people also just like the look of them too.
Also to wish they tank because you dislike peoples choice and calling people gobs hits for buying them is Imo harsh in the extreme.

jca

What did people with more than 1.5 children do before these "jeeps" arrived? How difficult is it to reach into the back and put on a seat belt on the precious flower :pac: People who get into debt aka pcp deals to be trendy in my mind are gob****es, these are the same people who think pre-pay power is a great thing!! My Mil has recovered from a broken hip, there wouldn't be a hope in hell getting her to climb into a toy jeep, getting her in and out of the Octavia is a teeth grinding exercise( mine not hers).

Grueller

jca wrote: »

What did people with more than 1.5 children do before these "jeeps" arrived? How difficult is it to reach into the back and put on a seat belt on the precious flower :pac: People who get into debt aka pcp deals to be trendy in my mind are gob****es, these are the same people who think pre-pay power is a great thing!! My Mil has recovered from a broken hip, there wouldn't be a hope in hell getting her to climb into a toy jeep, getting her in and out of the Octavia is a teeth grinding exercise( mine not hers).

Fair generalisation there to equate prepay power customers to pcp participants.
Do we actually know the exact percentage of tuscons sold on pcp vs other methods. Genuine question as I don't know myself.

mickdw

Grueller wrote: »

Not to take the thread further off topic, but the reason Imo that they are selling well is that the driving position offers excellent comfort and visibility particularly for those like my parents who have three false hips between them. At the other end of the scale the are easy for getting kids in and out of and for strapping into child seats without going all the way to MPV. Many people also just like the look of them too.
Also to wish they tank because you dislike peoples choice and calling people gobs hits for buying them is Imo harsh in the extreme.

Its my opinion and I perhaps dislike them more as this is a massive push towards higher cars. I don't like being in high cars and I certainly don't like having to overtake lines of them given the reduced visibility they allow for the following driver.
If the majority are forced to swap over to these things, then the mammys will want even higher cars. We are on a slippery slope. What is next, a walk in car where moms can stride straight in, seat the kids and drive the whole home down the road.

Needles73

mickdw wrote: »

Its my opinion and I perhaps dislike them more as this is a massive push towards higher cars. I don't like being in high cars and I certainly don't like having to overtake lines of them given the reduced visibility they allow for the following driver.
If the majority are forced to swap over to these things, then the mammys will want even higher cars. We are on a slippery slope. What is next, a walk in car where moms can stride straight in, seat the kids and drive the whole home down the road.

What a load of horse manure...For some reason you think you have more of an entitlement to be on the road and your car is "better". If they want SUV's let them off, their money, their choice. And no I don't have an SUV or PCP. Plus I don't find it feck all hard to pass them amazingly high vehicles with mommy driving.

mickdw

They do obstruct visibility from a normal car. I believe they have a place for older people where ease of entry is a god send. Apart from that, it's mostly a misplaced snobbery where alot of the buyers think they are driving a range rover or something.
Even from a pricing view point, they are completely over priced. I always have the opinion that you get golf spec for passat money when going for these type of vehicles.
It is not that I have more right to use the road but I don't like the slide towards these.

jca

mickdw wrote: »

They do obstruct visibility from a normal car. I believe they have a place for older people where ease of entry is a god send. Apart from that, it's mostly a misplaced snobbery where alot of the buyers think they are driving a range rover or something.
Even from a pricing view point, they are completely over priced. I always have the opinion that you get golf spec for passat money when going for these type of vehicles.
It is not that I have more right to use the road but I don't like the slide towards these.

Got it in one!! 162 on the driveway, not a drop of milk in the fridge for a cup of tae

Nonoperational

Lads this is stunning. We have no idea how these cars were bought or if people can afford them. It's their money good luck to them if they like them. I wouldn't buy one, but I couldn't care less if my neighbour did.

Needles73

jca wrote: »

Got it in one!! 162 on the driveway, not a drop of milk in the fridge for a cup of tae

How do you know this and what different does it actually make ?

ShadowHearth

I honestly and blatantly hate those yolks. 2 different type of cars mashed together and is **** of both worlds. They cost more too. Watched 5th gear where they tested new clio and that crossover yolk, can't even remember it's name. Tldr version was that clio which was a very liked car got a lot worse. The biggest issue was body roll too.
Saying all this: I still respect people's choices and what they do with their money is their own business.
I have my own share of cars I bought and got a lot of **** from others( even my current one) . In the end: it's my ****ing money.

scottishsteveo

I occasionally look at the HotUKDeals website and see some cracking leasing deals on cars through nationwide leasing companies. Do any of these exist in Ireland, or am I only looking at dealers?

Thanks!

conzy

The leasing deals on super-ish cars in the UK are amazing.

You can have an RS6 for 2 years for considerably cheaper than the depreciation an RS6 incurs over that timeframe.

e.g several grand upfront + 600 a month for 24 months is ~20 grand.

Its ~90 grand new. And I doubt you would get ~70 grand for your 2 year old RS6

air

conzy wrote: »

The leasing deals on super-ish cars in the UK are amazing.

You can have an RS6 for 2 years for considerably cheaper than the depreciation an RS6 incurs over that timeframe.

e.g several grand upfront + 600 a month for 24 months is ~20 grand.

Its ~90 grand new. And I doubt you would get ~70 grand for your 2 year old RS6

There are apparently similar deals on many other cars which raises the question of how sustainable the practice is?
There is a lot of speculation about a PCP bubble in the UK and impending issues around used values due to the rise in new car sales there, apparently they are growing while sales in the rest of Europe are very flat.

http://www.uhy-uk.com/wp-content/uploads/Used-car-value-bubble-to-burst.pdf

sheff the ref

PCP is grand for cars around €20,000 as you dont have a massive debt on your hands after 3 years. However I wouldnt like to be on PCP for a high value car. The bigger the price, the harder the fall.