Finance options on new cars ( UK)

[Tony Baloney]

Howard Abraham has good deals. Fella I know got a really nice 2.0 TDi Skoda Superb for 250 a month on contract lease. Would be interested myself in the estate version.

[Rois]

You do find that there can be discounts and extras included in these type deals.  If you have access to finance at a better rate than the car company, there is nothing to stop you entering into a PCP type deal, take their extras and special discount - then buy yourself out of the contract within the first few weeks cooling off period.  You will only get charged whatever interest per days you have had the car, plus you have the benefit of any discount or extras 

This interests me. Took a car out for a test drive today, I want to pay cash but perhaps I should see what the pcp option might offer me, then pay it off immediately. Though I'm hoping for a discount from Tyrone's top car and kit van supplier Donnelly Group so that might outweigh any pcp benefits.

[GJL]

I will more than likely go down the PCP route when I need a new car.  As mentioned, a fixed payment every month and no bother, then every 3/4 years change car.  There are loads of deals out there that are very good.  SERE offer a lot of zero deposit (or 1 or 2 hundred) and low payments.  Howard Abraham in Lurgan also offer a lot of good deals on KIA and Skoda cars.  The like of the Kia Sportage jeep can be got for as little as £160 a month with no deposit.  Both SERE and Howard Abraham have their deals on their websites.

The services are free on a lot of them but if not you can usually negotiate to get them added in for nothing - they ultimately want to look after the car for when you hand it back.

Just got a level 2 Kia Sportage on contract hire from Howard Abraham in Lurgan- £250/month with service included. 1 month deposit.

What is the annual mileage allowance on that deal?

[laoislad]

Howard Abraham has good deals. Fella I know got a really nice 2.0 TDi Skoda Superb for 250 a month on contract lease. Would be interested myself in the estate version.

New Superb is lovely. I'd like the estate myself.
Is that monthly repayments with a 0% deposit?

[Tony Baloney]

Howard Abraham has good deals. Fella I know got a really nice 2.0 TDi Skoda Superb for 250 a month on contract lease. Would be interested myself in the estate version.

New Superb is lovely. I'd like the estate myself.
Is that monthly repayments with a 0% deposit?

250 quid deposit. Aye it's a fine looking car and we'll specced.

Fella lives locally to work so 8k mileage no bother to him but could be restrictive for a lot of people. They will quote for additional mileage though.

http://www.howardabraham.com/new-skoda/offer/176/skoda/new-superb/superb-20-tdi-150ps-se-lux-edition-249-per-month

[laceer]

I will more than likely go down the PCP route when I need a new car.  As mentioned, a fixed payment every month and no bother, then every 3/4 years change car.  There are loads of deals out there that are very good.  SERE offer a lot of zero deposit (or 1 or 2 hundred) and low payments.  Howard Abraham in Lurgan also offer a lot of good deals on KIA and Skoda cars.  The like of the Kia Sportage jeep can be got for as little as £160 a month with no deposit.  Both SERE and Howard Abraham have their deals on their websites.

The services are free on a lot of them but if not you can usually negotiate to get them added in for nothing - they ultimately want to look after the car for when you hand it back.

Just got a level 2 Kia Sportage on contract hire from Howard Abraham in Lurgan- £250/month with service included. 1 month deposit.

What is the annual mileage allowance on that deal?

10k

[nrico2006]

I will more than likely go down the PCP route when I need a new car.  As mentioned, a fixed payment every month and no bother, then every 3/4 years change car.  There are loads of deals out there that are very good.  SERE offer a lot of zero deposit (or 1 or 2 hundred) and low payments.  Howard Abraham in Lurgan also offer a lot of good deals on KIA and Skoda cars.  The like of the Kia Sportage jeep can be got for as little as £160 a month with no deposit.  Both SERE and Howard Abraham have their deals on their websites.

The services are free on a lot of them but if not you can usually negotiate to get them added in for nothing - they ultimately want to look after the car for when you hand it back.

Just got a level 2 Kia Sportage on contract hire from Howard Abraham in Lurgan- £250/month with service included. 1 month deposit.

What is the annual mileage allowance on that deal?

10k

It must be the level 1 sportage that is around £160 or £170 a month.

[JohnDenver]

You do find that there can be discounts and extras included in these type deals.  If you have access to finance at a better rate than the car company, there is nothing to stop you entering into a PCP type deal, take their extras and special discount - then buy yourself out of the contract within the first few weeks cooling off period.  You will only get charged whatever interest per days you have had the car, plus you have the benefit of any discount or extras 

This interests me. Took a car out for a test drive today, I want to pay cash but perhaps I should see what the pcp option might offer me, then pay it off immediately. Though I'm hoping for a discount from Tyrone's top car and kit van supplier Donnelly Group so that might outweigh any pcp benefits.

Would do no harm to weight up both options. Sometimes there is a deposit contribution, or a service pack included.  As thebigfella said, very little incentives for cash buying these days it seems. 

You would be settling directly with the finance company (check the T&C's on the deal before to be sure), so I'm not sure exactly when the dealership would find out you have paid it off in full.  Possibly when their commission doesn't arrive with as much as they thought! If you had the cash, and they weren't going to beat the PCP way, it seems like a no-brainer.

[Rois]

Would do no harm to weight up both options. Sometimes there is a deposit contribution, or a service pack included.  As thebigfella said, very little incentives for cash buying these days it seems. 

You would be settling directly with the finance company (check the T&C's on the deal before to be sure), so I'm not sure exactly when the dealership would find out you have paid it off in full.  Possibly when their commission doesn't arrive with as much as they thought! If you had the cash, and they weren't going to beat the PCP way, it seems like a no-brainer.

Yeah was wondering about the point where commission is paid over.  I don't want to annoy the dealership as I am expecting a good deal and have a good relationship.  I will check it out anyway and see.  Thanks for tip - and yes I will check out the T&Cs of the finance agreement to make sure there's no huge penalty!

[laoislad]

Howard Abraham has good deals. Fella I know got a really nice 2.0 TDi Skoda Superb for 250 a month on contract lease. Would be interested myself in the estate version.

New Superb is lovely. I'd like the estate myself.
Is that monthly repayments with a 0% deposit?

250 quid deposit. Aye it's a fine looking car and we'll specced.

Fella lives locally to work so 8k mileage no bother to him but could be restrictive for a lot of people. They will quote for additional mileage though.

http://www.howardabraham.com/new-skoda/offer/176/skoda/new-superb/superb-20-tdi-150ps-se-lux-edition-249-per-month

How long a term is that over? Do you just hand the car back or do you ever own the car? They are mostly all minimum 10% deposit down here(in Ireland  )
Repayments are also much higher unless you give a bigger than 10% deposit

[Tony Baloney]

Howard Abraham has good deals. Fella I know got a really nice 2.0 TDi Skoda Superb for 250 a month on contract lease. Would be interested myself in the estate version.

New Superb is lovely. I'd like the estate myself.
Is that monthly repayments with a 0% deposit?

250 quid deposit. Aye it's a fine looking car and we'll specced.

Fella lives locally to work so 8k mileage no bother to him but could be restrictive for a lot of people. They will quote for additional mileage though.

http://www.howardabraham.com/new-skoda/offer/176/skoda/new-superb/superb-20-tdi-150ps-se-lux-edition-249-per-month

How long a term is that over? Do you just hand the car back or do you ever own the car? They are mostly all minimum 10% deposit down here(in Ireland  )
Repayments are also much higher unless you give a bigger than 10% deposit

I think 4 year plan. I think for the vast majority of people they will change the car at the end rather than pay the big lump sum to buy it outright. In effect most PCP schemes are car rental rather than car ownership. I don't know if that means you are roped into their service contract, repair at their garage rather than am independent garage etc.

[Milltown Row2]

Howard Abraham has good deals. Fella I know got a really nice 2.0 TDi Skoda Superb for 250 a month on contract lease. Would be interested myself in the estate version.

New Superb is lovely. I'd like the estate myself.
Is that monthly repayments with a 0% deposit?

250 quid deposit. Aye it's a fine looking car and we'll specced.

Fella lives locally to work so 8k mileage no bother to him but could be restrictive for a lot of people. They will quote for additional mileage though.

http://www.howardabraham.com/new-skoda/offer/176/skoda/new-superb/superb-20-tdi-150ps-se-lux-edition-249-per-month

How long a term is that over? Do you just hand the car back or do you ever own the car? They are mostly all minimum 10% deposit down here(in Ireland  )
Repayments are also much higher unless you give a bigger than 10% deposit

I think 4 year plan. I think for the vast majority of people they will change the car at the end rather than pay the big lump sum to buy it outright. In effect most PCP schemes are car rental rather than car ownership. I don't know if that means you are roped into their service contract, repair at their garage rather than am independent garage etc.

Not too many cars give you much hassle if they are new or nearly new.... its the service they rip you off on I'd imagine

[laoislad]

Howard Abraham has good deals. Fella I know got a really nice 2.0 TDi Skoda Superb for 250 a month on contract lease. Would be interested myself in the estate version.

New Superb is lovely. I'd like the estate myself.
Is that monthly repayments with a 0% deposit?

250 quid deposit. Aye it's a fine looking car and we'll specced.

Fella lives locally to work so 8k mileage no bother to him but could be restrictive for a lot of people. They will quote for additional mileage though.

http://www.howardabraham.com/new-skoda/offer/176/skoda/new-superb/superb-20-tdi-150ps-se-lux-edition-249-per-month

How long a term is that over? Do you just hand the car back or do you ever own the car? They are mostly all minimum 10% deposit down here(in Ireland  )
Repayments are also much higher unless you give a bigger than 10% deposit

I think 4 year plan. I think for the vast majority of people they will change the car at the end rather than pay the big lump sum to buy it outright. In effect most PCP schemes are car rental rather than car ownership. I don't know if that means you are roped into their service contract, repair at their garage rather than am independent garage etc.

I just read that link  again and I see you can only do 8k miles/year  which is only around 13000km.
Thats very low for most people I would have thought.
I've done 10k km since I last got car serviced in September.

[Gaffer]

When I bought my motor under PCP I was asked to nominate a yearly mileage. Mine was 18 000 and the deal was based on that !

[thebigfella]

Would do no harm to weight up both options. Sometimes there is a deposit contribution, or a service pack included.  As thebigfella said, very little incentives for cash buying these days it seems. 

You would be settling directly with the finance company (check the T&C's on the deal before to be sure), so I'm not sure exactly when the dealership would find out you have paid it off in full.  Possibly when their commission doesn't arrive with as much as they thought! If you had the cash, and they weren't going to beat the PCP way, it seems like a no-brainer.

Yeah was wondering about the point where commission is paid over.  I don't want to annoy the dealership as I am expecting a good deal and have a good relationship.  I will check it out anyway and see.  Thanks for tip - and yes I will check out the T&Cs of the finance agreement to make sure there's no huge penalty!

I find that quite important if you want to go back and trade in at a later date. They are not a keen to deal if they lost out the commission. I let mine collect and then paid out on my first car I bought from them; when I went back to change they were a bit easier to deal with.