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PCP on used cars

  • 20-04-2019 9:50pm
    #1
    Shefwedfan
    Closed Accounts Posts: 18,958 ✭✭✭✭


    Just wondering if anyone has used PCP on second hand cars? seen both Audi and BMW have it listed on website.



    I know it works the same as PCP for new cars but it is first time I seen it listed for second hand cars


Comments

  • #2
    ShadowHearth
    Registered Users, Registered Users 2 Posts: 22,929 ✭✭✭✭ShadowHearth


    Shefwedfan wrote: »
    Just wondering if anyone has used PCP on second hand cars? seen both Audi and BMW have it listed on website.



    I know it works the same as PCP for new cars but it is first time I seen it listed for second hand cars

    Does bmw does it too now? Nice.

    I know Seat, Skoda and VW do it now too. If you ask me, it's fantastic move.
    When pcp kicked of, it made 1-3 year old cars just not good value, as high apr would bring it so close to Brand new car. Now with apr like 1.9 with VW and 2.9 in Seat, it makes these cars very tasty.
    I almost changed my Ibiza Cupra 171 to 182 ex demo Leon FR 184hp Diesel. It works same way as new car PCP. Same process. You can go from new car PCP to second hand PCP car too.
    I am 99% sure that for my next car I won't go new car PCP, but will do Leon Cupra 1-2 year old one. 2.9% apr makes it very good value.


  • #3
    Shefwedfan
    Closed Accounts Posts: 18,958 ✭✭✭✭Shefwedfan


    I done a quick search and bmw mentioned used as well

    Seems like good option, need to get onto them on Tuesday


  • #4
    Shefwedfan
    Closed Accounts Posts: 18,958 ✭✭✭✭Shefwedfan


    How do you know what cars are available on it? Audi it says plus but all the cars via Audi.ie seem to be approved


  • #5
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    I cant see them giving the good interest rates. Plus, audi seem to push 2 year Pcp on used. Throwing a large deposit at a car to get it wiped out in 2 years is a terrible deal but the sales people push the 2 year deal as a benefit.
    I've not yet seen a sensible deal on a used Pcp.


  • #6
    Shefwedfan
    Closed Accounts Posts: 18,958 ✭✭✭✭Shefwedfan


    mickdw wrote: »
    I cant see them giving the good interest rates. Plus, audi seem to push 2 year Pcp on used. Throwing a large deposit at a car to get it wiped out in 2 years is a terrible deal but the sales people push the 2 year deal as a benefit.
    I've not yet seen a sensible deal on a used Pcp.

    2.9% on used from what I seen on website

    Options for 2-3 years, now I have no idea after that, need to contact them


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  • #7
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    2.9 would be reasonable.
    Interest rates kill Pcp cause you pay interest on all the money borrowed but not paid off til the end in lump sum. This makes any particular rate more severe than on hp as you are leaving a larger amount towards the end.


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