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New on PCP vs Second Hand

  • 24-01-2016 8:59pm
    #1
    KAGY
    Registered Users, Registered Users 2 Posts: 1,093 ✭✭✭


    Hi all,
    Would you have a quick look over these numbers 'cause it looks to good to be true.

    I'm looking at two options for a C4 Grand Picasso- trading up 2009 to 2012 or buying new on 0% pcp, these figures are taking a look at what I'd have to spend up to and including the next future trade in (2019).
    Dealers have offered 6500 to 7000 for my 2009

    Option 1: Trade up to 2012
    typical price on CBG etc 17,500 less trade in 6500 = 11,000 cash now
    Assuming same sort of depreciation and prices in 2019 (buying a 2015 then) means I'll have paid a total of 22,000 to have a 2015 C4 in 2019.

    Option 2: Buy new on 0% pcp
    31,000 - deposit of 6500 trade in plus 4500 cash
    - financed of approx 10,000 over 3 years
    - final payment approx 10,000
    bottom line - paid 24,500 to have 2016 C4 in 2019

    so it looks like I'll have only paid another 2,500 over three years to have a brand new car now and still end up with a newer car in 2019. Where's the catch that I missed?

    Edit - even if I got 8,500 for the old one it's 4500 the difference which I think would still be acceptable n


Comments

  • #2
    Nonoperational
    Registered Users, Registered Users 2 Posts: 7,401 ✭✭✭Nonoperational


    Not really any catch, especially at 0%. Obviously you don't own the car on PCP after 3 years but you know that. I'd expect 3 year old second hand cars in this country to take a big bit when all these PCP cars get handed back and people go again. That's probably the biggest worry. The equity won't be as good as most people are expecting.

    For me when I did the figures PCP was a no brainer.


  • #3
    Nonoperational
    Registered Users, Registered Users 2 Posts: 7,401 ✭✭✭Nonoperational


    Not really any catch, especially at 0%. Obviously you don't own the car on PCP after 3 years but you know that. I'd expect 3 year old second hand cars in this country to take a big bit when all these PCP cars get handed back and people go again. That's probably the biggest worry. The equity won't be as good as most people are expecting.

    For me when I did the figures PCP was a no brainer.


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