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Will PCP be a problem for the dealers?

  • 08-07-2019 6:12am
    #1
    Jeju
    Registered Users, Registered Users 2 Posts: 620 ✭✭✭


    Was in a few garages lately looking to buy and each had a large choice of 151-161 cars in stock. There seemed a lot of equity tied up and one rep mentioned that in future there should be PCP available for cars traded in from PCP contracts. How you are supposed to give a future minimum value on a 3 year old car is intriguing, however this screams of an action made in desperation by the Main Dealers. Has PCP now become an issue for the dealers on cars coming off their contracts?


Comments

  • #2
    Irishphotodesk
    Registered Users, Registered Users 2 Posts: 1,896 ✭✭✭Irishphotodesk


    Jeju wrote: »
    Was in a few garages lately looking to buy and each had a large choice of 151-161 cars in stock. There seemed a lot of equity tied up and one rep mentioned that in future there should be PCP available for cars traded in from PCP contracts. How you are supposed to give a future minimum value on a 3 year old car is intriguing, however this screams of an action made in desperation by the Main Dealers. Has PCP now become an issue for the dealers on cars coming off their contracts?

    Logically they would have a lot of stock of previously 3yr old vehicles due to the fact those previous owners have been brought into the PCP circle and have upgraded, logically they need to shift these products and it would make sense to make them available for some sort of finance offer (a secondary cycle for PCP type of deals)

    PCP isn't a problem for dealers...it's a problem for some buyers (committing to purchasing a new vehicle when it cannot be afforded and is unlikely to be affordable after 3yrs)


  • #3
    Toyotafanboi
    Registered Users, Registered Users 2 Posts: 12,917 ✭✭✭✭Toyotafanboi


    It's not really a future value, more a future figure that you will still owe, so it's very easy to work that number out. Some franchises already offer used car PCP on 1-3 year old cars.

    A lot of dealers will tell you they cant get enough good quality used stock. I dont think any brand is having trouble shifting clean, reasonable mileage 2.5-3 year old stock at the moment.


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