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Subject Topic: PCP Or PCH?
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PersonGCMS2012
01/11/2017 at 8:02pm
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Following my other post (Outlander 2.2). Instead of going through salary sacrifice to pay for her new car, we thought we'd look around to see if we can get our own / better deal....

The dealers gave us the prices for both PCP and PCH, just like what she's paying for now, but the dealer was pushing the higher priced PCP deal which didn't include things like servicing etc which her current deal does?

Was this just to make his sales figures and commission look good?

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PersonOpensauce
01/11/2017 at 8:10pm
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PCP personal contract purchase means at the end of the contract you have an option to purchase the car for an agreed price. PCH personal contract hire means that you hand the car back at the end of the contract. Most people do that & take out another contract on a new car so unless you definately intend to buy the car at the end of contract then go for PCH.

Be aware you will probably have an 8k pa mileage limit with extra payment for going over that. I have no idea of salesman commission but you really need to research & understand the difference between PCP& PCH so you can make an informed decision as to which is right for you.


Personcheckley1973
01/11/2017 at 10:21pm
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We pch our vw cars. They are very flexible and you can change mileage and buy the car at the end of the lease should you choose to.


PersonOpensauce
02/11/2017 at 6:25am
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In order to decide which deal is right for the individual they need to decide beforehand whether they intend to buy the car afterwards or not.


Personcheckley1973
02/11/2017 at 7:15am
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Quote: Originally posted by Opensauce on 02/11/2017
In order to decide which deal is right for the individual they need to decide beforehand whether they intend to buy the car afterwards or not.


Not necessarily. Vw allow you to buy st the end of the lease smf I’m guessing they’re not alone.


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Personjasie
02/11/2017 at 7:39am
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we changed to PCH a few cars back, having done PCP for years.

as everyone already says, if you have no plan to buy the car at the end then PCH will be cheaper....plus you can add on servicing, tyres etc.
Also you need to do the sums on mileage. e.g. it actually works out for us to commit to 10k a year on the finance, but i expect to go over this a little. I think off the top of my head its then 11p per mile over the 30k when i hand it back.
On my last car, we didn't do this, and i ended up giving it back with about 8k under the defined mileage as we had committed to 40k as we thought we would go over.
If we had committed to 30k and paid the excess over this, then we would have been about £900 better off!

we stopped doing PCP as we were always swapping the car at the end, and it was a bit of a headache on some as it was all based on a final value which was someteimes more than the car value and sometimes less.

with PCH you know exactly where you stand as far as budget planning goes, as you just give it bak at the end whatever the value.

Some firms will sell you the car at the end of PCH, but this will be about 10%-15% more than what its expected auction value is as a rough guide.


PersonOpensauce
02/11/2017 at 7:43am
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Anybody can buy any lease car at the end of any lease. This is completely separate from doing the maths at the start of the lease to decide which is the most price favourable for one's own needs. In order to achieve that then one needs to know beforehand whether one intends to buy the car afterwards or not.

If one intends to buy the car afterwards it suggests one wants a deal that leads to ownership of the car which one would intend to keep for many years possibly until end of economic life of car.

Or does one want a new car every 3yrs? It's a decision that needs to be made beforehand.

The op's question does suggest that as the salesman is pushing PCP without fully discussing op's needs that the salesman is following the money rather than seeking to assist the op towards the best deal to suit the op's needs.

So the op needs to do independent reseach then go to salesman & simply state his requirements.

At a guess the most lucrative deal for the industry is PCP when the customer hands back the car instead of buying it.

Post last edited on 02/11/2017 08:02:55


Personfreeatlast
02/11/2017 at 4:46pm
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There's £500 off PCP at the moment through Mitsu motors. This option is useful if you want to eventually own the car (and why not with a 5 year warranty). The finance package allows you to pay off lump sums whenever you like. This firstly reduces the monthly payments to zero, leaving just the balance to pay after 3 years. However, you can then pay this balance off in lumps. each time you do this you reduce the interest owing of course.

Also, if you intend to do this and pay off early, it doesn't matter what the final mileage is.

The other advantage is that as car prices rise, so you end up with a greater trade in each time. Another thought is that the best time to sell a 4x4 is early autumn for obvious reasons. PCP and paying the balance off early if possible gives you the option to maximise resale value, or jump in a few years when the dealer offers a deal too good to be true because they are down on meeting their quotas.


Personcheckley1973
02/11/2017 at 9:10pm
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Quote: Originally posted by Opensauce on 02/11/2017
Anybody can buy any lease car at the end of any lease. This is completely separate from doing the maths at the start of the lease to decide which is the most price favourable for one's own needs. In order to achieve that then one needs to know beforehand whether one intends to buy the car afterwards or not.

If one intends to buy the car afterwards it suggests one wants a deal that leads to ownership of the car which one would intend to keep for many years possibly until end of economic life of car.

Or does one want a new car every 3yrs? It's a decision that needs to be made beforehand.

The op's question does suggest that as the salesman is pushing PCP without fully discussing op's needs that the salesman is following the money rather than seeking to assist the op towards the best deal to suit the op's needs.

So the op needs to do independent reseach then go to salesman & simply state his requirements.

At a guess the most lucrative deal for the industry is PCP when the customer hands back the car instead of buying it.

Post last edited on 02/11/2017 08:02:55


That’s also incorrect information, have you actually leased a car before?

There are many manufacturers who will not sell you the car at the end of the lease as they want it back for their dealer network. One of our friends is in this situation now with Renault.


PersonOpensauce
02/11/2017 at 9:37pm
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Of course you can buy the car. If you really wanted to you could find out where it was being sold & go & buy it. You would just need to pay the asking price whatever that was. However why go for PCH & try to buy the car afterwards when it would have been cheaper to have gone for PCP instead if you had always intended to buy the car anyway?

As pointed out. PCP if you want to keep the car. PCH if you don't. If you do the opposite you are likely to pay more.



Post last edited on 02/11/2017 21:43:36


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Personcheckley1973
02/11/2017 at 10:10pm
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Quote: Originally posted by Opensauce on 02/11/2017
Of course you can buy the car. If you really wanted to you could find out where it was being sold & go & buy it. You would just need to pay the asking price whatever that was. However why go for PCH & try to buy the car afterwards when it would have been cheaper to have gone for PCP instead if you had always intended to buy the car anyway?

As pointed out. PCP if you want to keep the car. PCH if you don't. If you do the opposite you are likely to pay more.



Post last edited on 02/11/2017 21:43:36


You’re wrong. They come to your house and collect the car and take it to a centralised prep area. They won’t tell you where it’s going so how would you buy it ??


PersonThe Vicar
03/11/2017 at 8:06am
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Do your homework on what purchase scheme is best for you. Check the internet for as much information as possible. Salesmen generally only sell you the products that they either receive the most commission or the garage has given them a target to reach on particular product. Be Aware !!

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Personcheckley1973
03/11/2017 at 9:10am
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I wouldn't have posted at all but you're giving incorrect advice on a subject you clearly know nothing about and potentially misleading the poor op. My advise would be to stick to what you know on these threads.

You're advice is to go pcp if they want to buy and whilst this may be correct it's not cut and dried as you are saying.

There are some really crazy lease deals around and they beat the equivalent pcp by thousands. In some models this far outweighs any potential difference in purchase price at the end.

Then there are some lease companies who won't sell you the car, and I don't care what you say you would not feasibly trace the car through their national systems. Some won't let you change mileage, some will.

Leasing and deals vary immensely and I would advise the op to look at the detail of all the quotes of both types of financing. You cant be as black and white as you think and I suspect you haven't ever taken a lease car


Personblueexpo97
03/11/2017 at 10:56am
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Well said checkley and obviously from some one who knows a bit about all of this.

As most people have said it's all about the research in matters like this.



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Remember, if you buy something you bought it, not brought it.


PersonOpensauce
03/11/2017 at 12:15pm
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Quote: Originally posted by checkley1973 on 03/11/2017
Your advice is to go pcp if they want to buy and whilst this may be correct it's not cut and dried as you are saying.

Well I'm glad we agree on something then & the op now has expert advice on going PCP if he wants to keep the car afterwards as from what you say he may have difficulty doing that if he goes PCH so seems reasonably cut & dried? As you say the op needs to do careful research. I think that is what I said.

I still do not believe though that at the end of a PCH period that the lessor would take active steps to prevent you buying the car if you informed them in good time that you wished to buy which is what you appear to be saying.

They might of course offer you a non negotiable price that you might consider too high which would have made a PCP deal more favourable if you had decided beforehand you would want to keep the car.

Post last edited on 03/11/2017 12:29:49


Persondaveyjp
03/11/2017 at 1:13pm
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As Mitsubihsi offer a 24 month warranty on their approved used vehicles finding one up to 2 years old will be far more cost effective than any form of new car.



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