A 3yr PCP deal roughly works out the same per month as a normal 5 yr HP deal. To get the per month cost on a HP deal take the balance to finance figure and add on the total interest % ie £15000 to finance at a rate of 5% pa is 5% x 5yrs = 25% * £15000 = £3750 + £15000 Total £18750/ 60 months = £312.50
PCP deals also have variable balloon payments. SEAT are quite low. The lower the balloon payment the higher the monthly cost.
SEATcarsdirect.co.uk
Guest
At list price with 2000 deposite you are looking 326 a month
but then again i dont like selling cars at list price so give me a call and i will see what i can do
Irfan
but then again i dont like selling cars at list price so give me a call and i will see what i can do
Irfan
I would always look at 'conventional' finance as well as a PCP.
When I bough my Focus when they first came out, I had a Fiesta on 2 years PCP so costed up a Focus on 2 years PCP and 4 years HP. The HP worked out cheaper in the long run.
Also if you have the option try and get a bank loan instead. Car finance normally has a admin payment at the start and end which can work out at £100's. Also if the loan isn't secured against the car, you can sell it without paying off the finance, which is useful if you want to sell it privately.
Some banks will also offer PCP type schemes.
Sorry to rant on, but I have saved quite a few people thousands in this way. Went into a Ford dealer once and they wanted 22% APR on PCP, in the end my friend got a bank loan for something like 6.5% APR.
When I bough my Focus when they first came out, I had a Fiesta on 2 years PCP so costed up a Focus on 2 years PCP and 4 years HP. The HP worked out cheaper in the long run.
Also if you have the option try and get a bank loan instead. Car finance normally has a admin payment at the start and end which can work out at £100's. Also if the loan isn't secured against the car, you can sell it without paying off the finance, which is useful if you want to sell it privately.
Some banks will also offer PCP type schemes.
Sorry to rant on, but I have saved quite a few people thousands in this way. Went into a Ford dealer once and they wanted 22% APR on PCP, in the end my friend got a bank loan for something like 6.5% APR.
gavb
Guest
So what cost a month at your price. And do you match or beat trade in values offered?
SEATcarsdirect.co.uk
Guest
Thudd
Guest
As has been pointed out, PCP's are the devil - even HP is a better idea, and easier to get out of to boot.
gavb
Guest
Just got an online quote of £259 per £2k deposit that i think is pretty good better than a seat stealer could do.
I agree
I paid zero deposit and got Seat finance over 5 years at very low APR, with 16350 New Leon FR TDI (with a few extras - see below) costing me £333 month (with no baloon payment at end and inclusive of GAP insurance).
A personal loan worked out around 8 pounds a month cheaper and I agree that loans allow you to sell car later on without any finance headaches
However, HP provides other benefits, allowing you to hand the car back if you wish beyond mid term, with no penalties or payments (check small print on any HP finance agreement - your right to terminate - halves and thirds).
I have done this several (2+) times and guarantee that taking this action does not impact on your credit rating - which relates to your ability to maintain payments.
With my current new car, I even got new finance throught the same company that was taking back my old car with several £K negative equity - but they still let me have a new deal....!
Would always consider HP because of these extra benefits
Mike
57 FRTDi, 18", BT, Armrest, Alu Trim, Muddies and Mats
gavb
Guest
SEATcarsdirect.co.uk
Guest
gavb
Guest
Similar threads
