To be honest, I don't believe anyone should be going around in a new e class if producing an additional 7k deposit for new deal is an issue for them or alternatively an additional 200 or so per month if they had only been paying 600 or so.
It all comes back to the same point - if you can afford the car with 15 percent deposit, good. If not, it's too expensive.
But sure anyway, isn't a kia lovely
Plus many people will prefer to pay cash for cars, e.g. retired people who might have large savings but dont have large income are generally reluctant to get into debt of any sort. The trick is buying a new car that will appeal to second-hand buyers and which will hold its value
It lost 50% which is relative to the value of the car. The more expensive the car the larger the real value. A 20k car would lose 10k. Also half. That's third of the merchant but it's a third of the cost. If you can afford the car the depreciation is meaningless.
I bought my current car for 52k new back in 08.
If I'd sold it on after 2 or 3 years, the depreciation would have been frightening. At this stage, it averages out at about 4.5k per year which is ok.
Trading new e class every 3 years will never be cheap motoring.
Those who buying E class mercs, dont really care about it. I would even bet a massive chunk of them are company cars.
People who have lots of cash from experience care about every penny.
Id be pretty certain that in the general case, the reasonably wealthy person buying a new mercedes will bargain harder and shop around more than the buyer who is just managing to get into a new mercedes on a pcp.
I wonder if deposit contribution that's being advertised by car makers is to give people at end of pcp enoungh equity in their car to buy new again
Yep. as long as they don't steal the contribution back by undervaluing the trade in, these contribution will be a great help in getting cars shifted again on pcp.
If my trade in is worth 50% of the value of the car I'm buying, is PCP out for me ? 30% seems to be the limit.
Nope, they will refund the difference. So 30% of the value will go as the deposit and they will write you a cheque for the rest.
So that is a yes...
Part in bold was the question...
Then the answer is YES, it is for him... Why not? Because he'll unfreeze some cash?
I'm not following your logic?
He wants to do PCP. His current car is worth 50% of the new car. He can still trade in his current car, the dealer will take 30% of the value of the new car from the trade in amount and refund him the rest.
Whether he chooses to do this is his decision, but I answered the question as put.
Edit: his question was "is pcp out for me?", meaning "can I not avail of pcp?". I answered "nope", meaning yes you can avail of pcp.