Finance & PCP

[Warriors2012]

Evening all,

I've had my 1.4 Rocco for 3 years now and would love to upgrade to an R. I still have outstanding finance (HP) on my car but was thinking about looking for an R on PCP. So my question is this- would I get a new car on a PCP deal when I still have outstanding finance on my own car? Anyone here have any experience with this?

Thanks in advance

[Cuprabob]

As long as there is enough equity in your car to cover the deposit for the PCP deal yes. If not, you'll need to bring some cash to the party.

[Warriors2012]

As long as there is enough equity in your car to cover the deposit for the PCP deal yes. If not, you'll need to bring some cash to the party.

Thanks for the reply. I was hoping that would be the case. I recon that I have in the region of 4-5k equity in my car, so hopefully that would be a good deposit to put down. Question 2-do I have to get my PCP through VW (finance is currently with them) or could I look elsewhere? And if so, who offers the best deals?

Never done PCP before but looks like the only way I'd ever get a new car!

Actually that raises another question-is PCP only available on new cars or used too? Maybe worth me looking for a nearly new at a lower price.

Cheers guys

[Warriors2012]

Ps, I know the dealers could tell me all this but I'm trying to save myself the constant phone calls when they know I'm interested

[Cuprabob]

PCP is available on new amd used cars.

VW offers various deals on different models, new and used, with regards to interest rates and deposit contributions. So for PCP they are your best bet.

If you wanted to lease as opposed to PCP, then there are many more options open.

[Warriors2012]

PCP is available on new amd used cars.

VW offers various deals on different models, new and used, with regards to interest rates and deposit contributions. So for PCP they are your best bet.

If you wanted to lease as opposed to PCP, then there are many more options open.

Thanks again Bob

Without going into too much detail, whats the difference Bob? I obviously need to do some proper research before I decide but any pointers would be helpful.

[Cuprabob]

Leasing - you hand the car back at the end of the term.

PCP - you have the option to hand the car back or pay the balloon payment and keep the car.

Do your research very carefully as the different options suit different people. Also consider, if your financial position changes during the period they can be difficult / costly to get out of or even if you get bored of cars quickly.

[CleanDiesel]

You may as well go for a new car as a nearly new as with a new car you will get the deposit contribution and probably a lower interest rate and will end up paying about the same.

When I looked at the skodas a brand new VRS was cheaper to finance than a 6 month old one on the forecourt as they couldn't offer 0% finance on used cars.

A ridiculous situation.

[Warriors2012]

Thanks for the advice guys I need to give it some serious though and do some proper research before I make any decisions, but by god I want an R now