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Car renting vs buying new

  • 17-02-2017 09:53AM
    #1
    Registered Users, Registered Users 2 Posts: 1,340 ✭✭✭


    I'm playing with the idea of getting a new car on PCP when the insurance on my current car runs out. Obviously been looking down a lot of avenues. From what I can see the pcp payments REALISTICALLY come in between 280 and 380 per month. Add to that tax, insurance, servicing etc

    Then I'm looking at car rental (not leasing). If I got through Dublin based dealers, who im guessing would be cheapest in rep Ireland, its working out about 300 dearer over the year. this includes obviously insurance, tax and maintenance, and the option to switch up or down depending on needs.

    I have also looked at renting up north, a bit of a longer spin but works out much cheaper again.

    Just wondering If I am missing something here? The rental option feels like a much better option, and them prices were based on 3 week rentals, over the full year. There will be blocks of weeks were I don't need the car at all so wont need to rent.

    Just before anyone says it, I have looked at the other options and these are the 2 im happy to go with


Comments

  • Registered Users, Registered Users 2 Posts: 495 ✭✭✭Nuw


    Wouldn't you loose your NCB though? It may come in handy should your needs change down the line. Also, on the longer run, doesn't it turn out cheaper, say, after the usual 3 years PCP deals?


  • Registered Users, Registered Users 2 Posts: 23,814 ✭✭✭✭mickdw


    Have you factored in more expensive rental at peak times?
    Also, if buying the car even with pcp you could fully own it after maybe 5 years if you didn't swap it at 3 years old. That car would have a significant value that needs to be considered too.
    I don't believe renting is a cost effective option.


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