supernick

I was just wondering:
Can you get PCP on a used car?

ethanrob

iTrader: (3)

yes

but i think there is a three year age limit,and a mileage limit but not sure what that is!

mark

supernick

thats good cause i was lookin at a 1 or 2yr old Audi S4. I have always said to myslef i would never buy a new car cause of the initial money loss.

Knew you guys would be able to help.

Cheers

R 14NS R

i always look at the total amount payable at the end, if yu are going the pcp route and may keep the car look at a personal loan over a longer period of time as with pcp you still have the balloon at the end which you need to re finance(making the total period longer anyway) and you are on mileage perameters. the car dealer should be able to offer a personal loan on the same or possibly better figures than the bank as it ups their finance percentage which the managers will be paid bonus on, however there is no money in it for them so may not move on the price of the car.

Craigieloon

our PCP structure works on either 36 or 42 months.

The audi will have a decent residual so expect the payments to be lower than you think. Watch though... because of this dealers try and get away with charging a high flat rate.

Id push for a 4.2% flat rate... rates have gone up and thats the minimum the dealers can go just now. Unless they have special deals set up.

I persoanlly would only go for the pcp route if you want to change your car every 3 years.

supernick

Thanks - yea i would like to replace my car every 2-3 yrs max.

The car would prob be about 30-32k with me putting a 5k deposit down.

What would be the min repayments?

billythekid

c.500 ish with 5k in 36 months at 9% APR, final payment of c.15k. As stated above you want to get the APR right down.