PCP Figures

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Joolsdc
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Post by Joolsdc »

That’s a good suggestion. I will investigate

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rickwookie
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Post by rickwookie »

tcg68 wrote: Mon Feb 17, 2020 6:20 pm I heard back from the dealer. Here are the numbers he gave me:

37 months on 8000 miles per year:

£4500 deposit gives £400 month
£6000 deposit gives £355 month

Tony
The PCP "sliders" are back on the configurator after disappearing recently : https://www.honda.co.uk/cars/new/honda- ... calculator

You can work out exactly what the monthlies are by adjusting the deposit amount, term, and mileage, for your particular config.
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Rei
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Post by Rei »

£14k after 3 years seems very pessimistic.
Joolsdc
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Post by Joolsdc »

Agreed on the low £14k figure
Also 5.2% apr is poor
I just found 2.9% at Tesco and Sainsbury’s banks
But you then don’t get the benefit of the balloon payment
Joolsdc
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Post by Joolsdc »

Sorry 5.9% apr. I forgot the number 😊
Rei
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Post by Rei »

The only benefit of the balloon payment is to insulate you from depreciation isn't it? Are there any other benefits?

I think as long as you keep the car for 3 years you should be fine with a bank loan in that front. Such a unique car should hold its value better than that.
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rickwookie
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Post by rickwookie »

Rei wrote: Fri Feb 21, 2020 11:20 am £14k after 3 years seems very pessimistic.
I can't work out if that's a good or bad thing tbh. If the cars worth more than £14k after three years, then pay the £14k and sell the car for what it's worth, no?
Rei
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Post by Rei »

Obviously it's designed to be a good deal for them.

There is a simple calculator here

https://www.themoneycalculator.com/vehi ... alculator/

Using that even with the high depreciation setting it only comes out at 10k lost over 3 years.

So if you trade it in there is potentially 6k value in it and they will give you less than that against your new car, if you keep it then they got you to pay them a high interest loan for 3 years.

You would be better off taking the bank loan and after 3 years you have an asset that is potentially worth a few thousand more than is outstanding on the loan, unless you do high mileage.
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rickwookie
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Post by rickwookie »

Yeah I see that now. You have to pay interest on the entire £20k+ for those three years at a high 5.9%, so it’s toilet really.
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