PCP upgrade

forzacalcio

So Im due an upgrade (renew PCP) soon and I have an option of Diesel or Petrol, I do about 20k per year driving and Dublin about once a month. I already have Diesel and have a choice to stick or change to Petrol. What do you all recommend?

Also Gap Insurance is coming out around €700. I s it really worth it for PCP? I get why its good for when you buy a car outright but is it a bit pointless or am I looking at it wrong? Any help is appreciated.

L-M

Definitely stick with the diesel.

As for GAP insurance, €700 quid is an absolute rob.

Darc19

Why not get a bank loan and buyout your current car?

Far better, lower payments and you'll own it in 3 years.

aFlabbyPanda

Darc19 wrote: »

Why not get a bank loan and buyout your current car?

Far better, lower payments and you'll own it in 3 years.

unless the dealer is offering 0% which is the reason we went with PCP in the first place.

We made the mistake of switching to petrol earlier this year and we really noticed the difference in monthly costs for fuel, defo stay with the diesel.

forzacalcio

Thanks for all the replies, I toyed with getting a loan and buying out the one I have but I ran the absolute **** out of it and my plan is to take care of this one and buy this out. Its Duster, I do lke the new version so Im going to jump in with it.

As for GAP insurace, Im thinking Ill leave it. If I owned it outright then fair enough but its very pricey alright

Also I meant to ask, they offered the first plan at 10k Km, Obviously if I go 15k Km per year its more expensive, they keep telling me Im better off going for 10k Km but I do 20k km per year. Im just suspicious it may catch me out in the long run, am I being paranoid or just hightened aware?

L-M

The difference in mileage basic Lowers or increases what you owe at the end. You’re basically robbing Peter to pay Paul by opting for a higher GMFV with a lower payment.

If you’re not good at saving I would say opt for the higher mileage option as you’ll owe less I’m three years.

forzacalcio

L-M wrote: »

The difference in mileage basic Lowers or increases what you owe at the end. You’re basically robbing Peter to pay Paul by opting for a higher GMFV with a lower payment.

If you’re not good at saving I would say opt for the higher mileage option as you’ll owe less I’m three years.

Im going for the 15k one as I do plan on not flahing it this time. Thanks for advice all, very much appreciate it.

I just need to decide what to do with the Gap Insurance

L-M

forzacalcio wrote: »

Im going for the 15k one as I do plan on not flahing it this time. Thanks for advice all, very much appreciate it.

I just need to decide what to do with the Gap Insurance

Is the 700 for 3 years?

Does your insurance company have a replacement for new policy within first 12 months? Some do.

forzacalcio

L-M wrote: »

Is the 700 for 3 years?

Does your insurance company have a replacement for new policy within first 12 months? Some do.

Yes its €700 for 3 years or I can add it to the monthly cost. Funny thing is this was "Thrown in as free" when I got my first PCP (Obviously that was a lie but I took it anyway) My PCP finance will increase this time as the price of car has gone up so he is obviously not "Throwing it in for free" this time to keep the monthly payment down.

Im just very cautious what I do here. Ill check with Insurance company tomorrow, thanks for that tip, wouldnt have copped it.

L-M

You can also buy your own gap.

I just googled Gap insurance Ireland and there’s a crowd called car protect where you can buy your own.

forzacalcio

L-M wrote: »

You can also buy your own gap.

I just googled Gap insurance Ireland and there’s a crowd called car protect where you can buy your own.

Yeah there are a couple of options I saw too, must give them a call tomorrow. Cheers for that

Lantus

forzacalcio wrote: »

Yes its €700 for 3 years or I can add it to the monthly cost. Funny thing is this was "Thrown in as free" when I got my first PCP (Obviously that was a lie but I took it anyway) My PCP finance will increase this time as the price of car has gone up so he is obviously not "Throwing it in for free" this time to keep the monthly payment down.

Im just very cautious what I do here. Ill check with Insurance company tomorrow, thanks for that tip, wouldn't have copped it.

As stated if you have total loss cover on your primary insurance then you won't need this. It really covers the difference in values if you have a crash in the first year as your real world value will be much less than your finance owed.

If you do need it then shop around.