PCP

Joe90zma1

Hi all,

I have a 2011 1.7 lx Kia Sportage with 82,000 miles on the clock. I got the car on a hire purchase agreement and have €8,275 worth of payments left on it.

The thing is I want to get a new car of the same make and type and am not sure what way to go about it. I don't no whether I should trade in my current car with my current dealer for a PCP finance deal or simply sell it privately? What would be the best way to go about it? Wgat should I look out for if I go down the PCP route?

I'm young and assuredly green when it comes to this so advice from experienced users would be greatly appreciated.

Kind regards,

Joe.

bmm

Save yourself the hassle of selling privately . Your original dealer should give you a good trade in value as you originally purchased from them . Shop around but a Kia dealer will give you a better price than a non-Kia dealer .

Joe90zma1

bmm wrote: »

Save yourself the hassle of selling privately . Your original dealer should give you a good trade in value as you originally purchased from them . Shop around but a Kia dealer will give you a better price than a non-Kia dealer .

Thanks bmm

Cakerbaker

We sold privately when going for PCP as we were able to get a higher price. Was a bit of extra work but it was enough of a difference to make it worthwhile. Maybe check out what the dealer will offer you for yours and compare to what cars similar to yours are going for online (although be realistic and assume you won't get the asking price).

Joe90zma1

Cakerbaker wrote: »

We sold privately when going for PCP as we were able to get a higher price. Was a bit of extra work but it was enough of a difference to make it worthwhile. Maybe check out what the dealer will offer you for yours and compare to what cars similar to yours are going for online (although be realistic and assume you won't get the asking price).

I was thinking that. I had hoped to post what the dealer was offering but the sales guy is away today. Ill update the section when he does get back to me. One thing is for sure I'm going to research what is the best achievable outcome for myself.

Thanks for your help.

Joe.

Cakerbaker

We were lucky in that we had a bit of a wait till our new car arrived so we had that time to sell the car. We figured if we didn't get it sold in the time we had we'd trade it in. Luckily it sold. It did mean we'd a few weeks on public transport in between selling and getting the new car but that wasn't the end of the world!!!

Joe90zma1

Cakerbaker wrote: »

We sold privately when going for PCP as we were able to get a higher price. Was a bit of extra work but it was enough of a difference to make it worthwhile. Maybe check out what the dealer will offer you for yours and compare to what cars similar to yours are going for online (although be realistic and assume you won't get the asking price).

I was thinking that. I had hoped to post what the dealer was offering but the sales guy is away today. Ill update the section when he does get back to me. One thing is for sure I'm going to research what is the best achievable outcome for myself.

Thanks for your help.

Joe.

bazz26

You will always do better financially by selling your old car privately and buying the new one with no trade-in. However selling a car privately can be taxing to say the least. You potentially have to deal with time wasters, scam artist, etc.

One thing that you need to know about PCP deals though is usually they will only allow you a maximum deposit of 30% of the cost price of the new car. So if the trade-in value of your 2011 car is worth more than 30% of the cost of the new car you may not qualify for the PCP deal. Best get verification from the dealer on this.

carsfan

If your car is worth more than the deposit you want to put in the dealer gives you a cheque back for the difference.

bazz26

And that's probably where you will get shafted on the trade-in value of your current car.

Joe90zma1

bazz26 wrote: »

And that's probably where you will get shafted on the trade-in value of your current car.

Reading all the threads I might be better to get a low Apr loan In March or April to get a 152 Kia Sportage. Might be better value. The only thing is I don't want to sell my car privately. Can be dodgy. I'll keep looking. One thing is for sure dealers sniff out amateurs and make them pay for it.

MarkN

If you're going through a dealer for the above, the lower rate APR is usually only on the new car but there's still low rate loans around.

Joe90zma1

MarkN wrote: »

If you're going through a dealer for the above, the lower rate APR is usually only on the new car but there's still low rate loans around.

There are not many who will give low rate loans at this point in time.

Drummerboy08

Skoda will do a 3.9% PCP on a 151/152 car. Not sure if VW have followed suit, don't know of any others with a low APR on used cars.