blue_manc
Member Since: 15 Mar 2009
Location: Deepest Darkest Lancashire
Posts: 551
  
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| Finance for a non-D3 advice please |
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You may have seen my post in the for sale section, selling the D3 due to a change of jobs.
Looking to changing to an estate though to keep some of the space.
What sort of rates would people see as reasonable at the minute for a PCP plan? Being offered quotes of around 10% APR.
What's the best way to shop around? Through brokers or online - if the latter where to look?
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 14th Jan 2012 12:08 am |
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pom
Member Since: 10 Feb 2008
Location: Worcestershire
Posts: 1790
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i found it all depends on the motor as to what deal goes with it.
A mate of mine looked into pcp and found he got a better deal just buying a new one on the options type thing where you lump sum upfront and then give the var back in 3 years. He paid the lump sum on a CC (0% and he ate the fee), he got cash back on the purchase and just paid it off over the term same as pcp, keeping it on 0% all the time.
Pom
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| 14th Jan 2012 9:05 am |
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cheddarwards
Member Since: 07 Aug 2006
Location: Somerset
Posts: 169
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I arrange business finance so cannot directly answer your questions - but my feeling would be that you should expect an APR of around 7.2-7.5% on a PCP type deal. I know that when i do director/sole trader HP finance we look at rates below even that - but traditionally PCP has been seen as a higher risk for the funder (guaranteeing a FV for 2/3/4 years) thus the APR;s have been slightly higher - but not as high as 10%.
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| 18th Jan 2012 10:48 am |
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DiscoDunc
Member Since: 08 May 2006
Location: Bristol
Posts: 16390
  
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have you got a quote from KAM. they have provided me a quote for financing a new D4 and its around 5% flat rate Duncan
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| 18th Jan 2012 11:02 am |
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cheddarwards
Member Since: 07 Aug 2006
Location: Somerset
Posts: 169
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To be fair 5% flat equals approx 10% APR so maybe the quote you have isn't as bad as i thought
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| 18th Jan 2012 2:10 pm |
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