PCP Figures
Had an email from the dealer today to say that they have access to the PCP system for financing the Honda E. He wanted to know how much i will putting down as a deposit so he can work out the numbers. I put it back to him as how much would I need to put down in order to keep the monthly costs below £400 and we can negotiate from there.
It would be cheaper to get a bank loan for £24k and pay the rest cash (i.e. £4k down).
You get a better rate and you own the vehicle so no worries about PCP hand-back or mileage. The down side is that if you want to change after 3 years you have to sell it privately and take a gamble on what the residuals will be.
Anyone had quotes for servicing?
You get a better rate and you own the vehicle so no worries about PCP hand-back or mileage. The down side is that if you want to change after 3 years you have to sell it privately and take a gamble on what the residuals will be.
Anyone had quotes for servicing?
Rei - interested in what you say about loans. Do you have some example figures?
A quick check of a comparison website (I will use the £4500 and £6000 deposit numbers given above):
£4500 down is £420 per month over 5 years (£20 more per month)
£6000 down is £395 per month over 5 years (£40 more per month)
I need to give this some thought.
A quick check of a comparison website (I will use the £4500 and £6000 deposit numbers given above):
£4500 down is £420 per month over 5 years (£20 more per month)
£6000 down is £395 per month over 5 years (£40 more per month)
I need to give this some thought.