Car financing



Do used cars normally take any drop in price around the time the reg plates change?

I need a car at the end of March.
 
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Copacabana said:
Do used cars normally take any drop in price around the time the reg plates change?
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They mitigate against that so not really.

Your best bet is to be realistic about what you think what you’re buying is worth. Doing research and looking for like for like is the best way, take that quote to another dealer and play them off till one says no.
 
How does it work when say for instance you go on the Mercedes web site and search for a used car.

The results come from loads of different dealers around the country, are these dealers competing with each other or are they almost one entity.

Also would you expect a noticeable influx of 1 or 2 year old cars entering the market in March?

Cheers
 
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safcsafc said:
We've just bought a 1 yr old car on 4 yr pcp. Will be using voluntary termination and handing back after 34 months at the half way finance point.

We've always had finance/loans for cars a few year old and never made a penny. pcp takes away the hassle of selling it on at the end for us.
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Is this option available most places? 1yr old car on a lease with a get out half way ?
 
Goat Eyes said:
PCH - Personal Contract Hire, you pay rental payments for a set period of time, you’ll never own the vehicle at the end of the agreement, won’t generate any equity and hand the vehicle back when the agreement is finished. Can have repair and maintenance included and will be mileage restricted. Deposit will likely be low e.g. 3 x rental payments up front

PCP - Personal Contract Purchase, deposit required, your monthly payments are then tailored to your needs (to a degree) and you’ll often have a balloon payment at the end. A lot of products now will give you the three options at the end of the agreement, hand the car back and walk away without paying any more payments, put the car as deposit towards another vehicle or pay the final payment and own the vehicle. R&M can be included and it’s your responsibility to decide on your Contract end options. Deposit is likely 20% of the purchase price.
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Not in my experience. You can also hand the car back after half of the payments have been made.
 
Royston Vasey said:
Not in my experience. You can also hand the car back after half of the payments have been made.
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Aye but your monthly payment and balloon are inevitably higher. You’ll only get away without a deposit if you take their finance which will be charged at a much higher rate so you’re worse off in the long run.

It’s the law that you can hand it back at the mid-way point but I just don’t see the sense in taking it on with that in mind.
 
Langleyparkmackem said:
Its standard on HP and PCP but not PCH
Standard on HP and PCP but not PCH
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I have a PCP from BMW - I paid no deposit.

Goat Eyes said:
Aye but your monthly payment and balloon are inevitably higher. You’ll only get away without a deposit if you take their finance which will be charged at a much higher rate so you’re worse off in the long run.

It’s the law that you can hand it back at the mid-way point but I just don’t see the sense in taking it on with that in mind.
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When you do the miles I do it's well worth handing it back
 
Langleyparkmackem said:
What did you get mate?



No
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Bit of advice needed mate, I'm looking at buying a used motor, I've got the money to pay cash, they've offered me a shit trade in for my current car so I'll send that private, what's the best way to get the one I'm looking at at the best price? Any way of getting the price down? Or should I sign up for finance & pay it off within the 2 weeks or just tell them I have the cash?
 
Gutmackem said:
Bit of advice needed mate, I'm looking at buying a used motor, I've got the money to pay cash, they've offered me a shit trade in for my current car so I'll send that private, what's the best way to get the one I'm looking at at the best price? Any way of getting the price down? Or should I sign up for finance & pay it off within the 2 weeks or just tell them I have the cash?
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Get it on finance and pay it off would be my choice
 

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