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  1. #1
    Silky-S3's Avatar
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    PCP on Used 3.2 A3

    Hi guys,

    Just been to look at a nice 2006 3.2 A3 at an Audi garage, I’m thinking it looks pretty good for the money as its low miles and has everything i want.

    The sales guys started tell me about PCP and how it can be a cheap way of paying for the car, now I was thinking of getting a loan (say 10k) and 12%ish over 4 years to pay for it, would PCP be a better deal? TBH i don’t really understand how it all works.

    I do around 30k a year in my car so will that affect it, and I’m hoping to keep the car for around 4-5 years.

    Any advice?

    Cheers
    Matt
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  3. #2
    Amchlolor's Avatar
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    We'd need to know what the PCP was costing every month etc.
    There are definite advantages to PCP though.
    For starters, the monthly payments are usually less, because a certain amount of the car's value is deferred.
    So you're not paying 48 monthly payments based on you arriving at a zero balance.
    You would be paying 48 monthly payments, but with a residual balance of (say) Ł4k.
    So you're paying 48 payments on Ł6k, not the full Ł10k.
    At the end of the PCP contract, you can buy the car for the agreed residual balance, or you can just hand it back and make it their problem.

    FWIW, I don't intend to ever buy a car again, in the traditional sense.
    It'll be PCP or PCH for me from now on.
    I will treat my cars just like my mobile phone.
    Keep paying a monthly sum, then just 'upgrade' every three years.
    Last edited by Amchlolor; 4th February 2009 at 11:29.
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