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PCP on Used 3.2 A3

Discussion in 'A3/S3/Sportback (8P Chassis)' started by Silky-S3, Feb 3, 2009.

  1. Silky-S3

    Silky-S3 Is loving his new 8V S3!

    Jan 30, 2009
    Likes Received:
    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?

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  3. Amchlolor

    Amchlolor Active Member

    Jan 13, 2005
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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) £4k.
    So you're paying 48 payments on £6k, not the full £10k.
    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.:salute:

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