I could also buy one outright but chose not to deplete my savings.
With regards to ‘handing the car back after three years’, why is this a problem if (a) you’ve only paid half the RRP in those three years compared to an outright purchase and (b) you would buy another car after three years anyway?
Example:
New A3, £6k deposit, £300 x 36. Total paid over three years = £16,800 on a car that would have cost £26,000 outright.
Then you decide to have another after three years. You pay another £6k deposit then £300 x 36 once more.
Over six years you’ve had two brand new cars, not depleted your savings and have spent a total of £33,600.
The guy who bought new & outright, kept it for three years then bought another outright has spent £52,000 over the same 6 year period. I know he’d get money back on both by selling on or trading in but Mr PCP man still has a massive stash of cash in his savings account, whereas Mr Outright has a sizeable dent in his.
Horses for courses.
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