Hey, Steven. It depends if you`re really going to buy the car at the end. If the monthly payments and the first deposit are the same, then the most expensive car is the best choice (i.e. – you get more car for your money). However, if you are going to pay the bill at the end and hold the car, then the cheaper car is thousands of pounds better. Many people say they intend to buy the car at the end of the deal, but never do so because they didn`t have the money at the time. Unlike a conventional lease-sale, in which the customer repays all the debt per month over the term of the agreement, a PCP is structured so that the customer pays a lower monthly amount over the term of the contract (usually between 24 and 48 months) and leaves a final balloon payment at the end of the agreement. The total loan is the same in both cases, and interest on the entire amount (including the payment of the balloon on the PCP). Hey, Stuart. This is a very interesting article. I`ve wanted a Qashqai for years, so I want to take a new one. I have a 14-month car on a 36-month contract.
I have 2k equity on my existing car after the count and I would take a new PCP for 6000 miles a year for 48 months, in order to keep monthly payments down, knowing that I will make more than 14,000 miles a year. I`m very unlikely to make the car, so the 6000 miles a year is important, in addition to making a nonsense of the GFV? Thank you very much. Hey, Charlie. Yes, you`re absolutely right. The term “deposit” is a wrong word; Rather, it is a down payment. You can reduce your deposit and pay a higher monthly amount (more than 3 years, reduce your deposit by 1000 euros, increase your monthly deposit by about 30 euros), but look at any money you pay the trader/financial company to be gone. If you`re lucky, you may have a small amount of equity at the end of the agreement, but it`s unlikely to be as much as $2,000 (i.e. – you probably won`t get $13,000 for that at the end of three years). Good morning, Annabel.
This is usually not possible, even if you are related. This is a hosting agreement, and this link leads you to an article about it. Most financial firms will insist that the vehicle contract, registration, financing and insurance are all on behalf of the same person for the duration of the financing contract. This will be particularly problematic because you do not live at the same address as your father. Hi, John. As a general rule, at the end of the agreement, the financial company does not want to be abandoned with a car that is worth less than the billing figure (GMFV), so they will be a little conservative in their valuation. However, you do a lot of research on the market and are usually very accurate in their estimates, so there is usually not much in it.