PCP Figures
- rickwookie
- Posts: 848
- Joined: Thu Sep 12, 2019 1:30 am
- Location: St Albans, UK
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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.
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.
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.
- rickwookie
- Posts: 848
- Joined: Thu Sep 12, 2019 1:30 am
- Location: St Albans, UK
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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.
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.
- rickwookie
- Posts: 848
- Joined: Thu Sep 12, 2019 1:30 am
- Location: St Albans, UK
- Contact:
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.