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Best way to buy new car

  • 10-05-2015 1:26pm
    #1
    prf
    Registered Users, Registered Users 2 Posts: 47 ✭


    I am looking to buy a new car soon and am wondering about the pros and cons of the various means of paying for it.My cost to change is circa 20000 to get what I want.I am in the lucky position to pay cash for the car,but I wonder about the option of a pcp deal.My trade in is valued at 15-16000.which is the best option as the interest from the banks is small ,but the apr on the pcp is about 5%.


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,708 ✭✭✭✭Atlantic Dawn
    M


    If you can afford to pay in cash, see what the cost of finance on the PCP is and if you can afford to have the cash tied up in the car the few grand you save will make more sense unless you have somewhere to invest the €20k in that will make better returns.


  • #3
    RyanMGF
    Registered Users, Registered Users 2 Posts: 136 ✭✭RyanMGF


    Your only options really if you don't want to put all the cash in is either PCP or just normal finance over 3/4/5 years - meaning you could put 10k down of your own money and finance the other 10k (or however much you want to finance).

    What kind of car is it?


  • #4
    prf
    Registered Users, Registered Users 2 Posts: 47 ✭prf


    The trade in is a 2011 skoda superb elegance 1.6 diesel green line owned by me from new less than 80000 km full main dealer service history new nct 4 new tyres,Taxed for year.I have my eye on new mondeo or Passat or Mazda 6 or Volvo S60 .All of these would be speced up to my current spec. I would also have in mind the new model superb.I think I could do better by selling mine privately.I think my mileage is marginal to justify diesel but I have had diesels for 20 odd years now .


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