Will you keep yours at the end of your PCP Deal?
- Thread starter Maniac
- Start date
I used to drive a company car, when I moved to a new company (anyone needing BI, drop me a line) I was given a car allowance. I have chosen to go the PCP route, allowing me to change my car every two years...or when I get bored.
I have never owned my cars, I don't care that I give it back, I get another shiny and sparkly car to enjoy and now my insurance is reasonably affordable it is a great option...I get to have a Z4 not a mondeo type family mover.
Buy a car I have 'owned'? BWAHAHAHAHAHA!!!
I have never owned my cars, I don't care that I give it back, I get another shiny and sparkly car to enjoy and now my insurance is reasonably affordable it is a great option...I get to have a Z4 not a mondeo type family mover.
Buy a car I have 'owned'? BWAHAHAHAHAHA!!!
mr wilks said:TitanTim said:mr wilks said:
Oh I still wash the Z4 weekly and wax and caress itI'm just a helpless washer
Tim.
Take it on the chin Tim , , you're waxing someone else's car :wink:
But it doesn't bother me, I get to drive a brand new shiny Zed, I enjoy it, I still have that ownership experience whether you actually own it or not, no difference to me. Secret is you have to put the fact you don't own it 100% out your mind :wink:
Tim.
I did PcP on a brand new car few years ago... Never again.
Its fine if you want to swap the car every 3 years (although you could argue that leasing it is better value), but it really makes very little sense if you KNOW you're going to pay it off and keep it.
The total cost over the life of the finance is usually (but not always I guess if you get a dealer contribution) is more than if you should did straight up finance.
Of course the benefits are the flexibility of making that choice in 3 years time.
Its fine if you want to swap the car every 3 years (although you could argue that leasing it is better value), but it really makes very little sense if you KNOW you're going to pay it off and keep it.
The total cost over the life of the finance is usually (but not always I guess if you get a dealer contribution) is more than if you should did straight up finance.
Of course the benefits are the flexibility of making that choice in 3 years time.
No PCP here either. I had one many years ago now and I wouldn't do it again!! :?
I own mine now and so far I'm keeping it (although I've been offered a very good deal on an M3 I'm trying to resist!!).
I have been looking at something different lately also. Maybe an Evoque or Range Rover Sport!
If and when the better weather and sunshine comes out and the roof goes down I may keep the Z4 though!
I own mine now and so far I'm keeping it (although I've been offered a very good deal on an M3 I'm trying to resist!!).
I have been looking at something different lately also. Maybe an Evoque or Range Rover Sport!
If and when the better weather and sunshine comes out and the roof goes down I may keep the Z4 though!
TitanTim said:mr wilks said:I know how it works Tim but in reality after the PCP finishes you are faced with the prospect of buying a car you have already owned 8)
or for a similar monthly payment taking another brand new one . . . . .
Call them what you like but in reality you are borrowing a car with a downpayment + a monthly charge for the priveledge :wink:
Wouldnn't work for me because when i wash & wax my car i want it to be mine , not Bmw's :roll:
But if you look at it like that you will never own a new vehicle unless you pay the full amount upfront for which why would you do that? I always thought the same as yourself, used to get the expensive bankloans to pay for the car so it was actually mine, but its an old fashioned way to do it now especially when dealers offer decent ways of paying for a new car. Unless I go into financial woes I prefer to swap my motors every three to four years than hang onto them. With the exception of the Z3 which owes me nothing and I can polish to my hearts content
Tim.
If your changing the Z4 every 3 or 4 years, why do you not drive it more? Your just looking after it for someone else to enjoy? :wink:
I own mine and at the moment mines filthy!! I just enjoy driving it! ;-)
TitanTim said:Mines over 4 years but the dealer said they would contact me at 3 years to see if I wanted to change so I may do that depending on what deal they can do me on a 135iM.
Tim.
I'm really wanting to like those 135i M cars but I just can't get past the look of the things!! :|
I bet they are a great car to drive though!
I keep looking at the M135i too & have just read the autocar review on it & I can't believe that in essence it's virtually as fast as my M3 but returns 14mpg more on the combined cycle 23mpg plays 37.7mpg...I wish they weren't so dog ugly though!Breaker said:TitanTim said:Mines over 4 years but the dealer said they would contact me at 3 years to see if I wanted to change so I may do that depending on what deal they can do me on a 135iM.
Tim.
I'm really wanting to like those 135i M cars but I just can't get past the look of the things!! :|
I bet they are a great car to drive though!
Breaker said:TitanTim said:mr wilks said:I know how it works Tim but in reality after the PCP finishes you are faced with the prospect of buying a car you have already owned 8)
or for a similar monthly payment taking another brand new one . . . . .
Call them what you like but in reality you are borrowing a car with a downpayment + a monthly charge for the priveledge :wink:
Wouldnn't work for me because when i wash & wax my car i want it to be mine , not Bmw's :roll:
But if you look at it like that you will never own a new vehicle unless you pay the full amount upfront for which why would you do that? I always thought the same as yourself, used to get the expensive bankloans to pay for the car so it was actually mine, but its an old fashioned way to do it now especially when dealers offer decent ways of paying for a new car. Unless I go into financial woes I prefer to swap my motors every three to four years than hang onto them. With the exception of the Z3 which owes me nothing and I can polish to my hearts content
Tim.
If your changing the Z4 every 3 or 4 years, why do you not drive it more? Your just looking after it for someone else to enjoy? :wink:
I own mine and at the moment mines filthy!! I just enjoy driving it! ;-)
I drive it when it takes my fancy, you might buy an expensive handbag but only use it on the occasional night out :?
Tim.
Mine also an E86 but on a 2 year PCP scheme mine is up in November and will keep it until March then make a decision, whether to go traveling or move into the city.
The main reason for having the M was because of the awesome roads up here. If I moved into the city I wouldn't be able to make the most of it so I would most probably sell.
The thing with the M is that for me anyway buying the car at the end of the term makes more sense. The current market value is worth more than giving it back, they are rare and sort after and im sure I wouldn't have any problem selling it after being inundated with emails the other week when i put send me your best offer on that thread, so although im not making any money its worth considerably more than the final payment. If it were a 'normal' car then it would be head over heart but with the M its definitely heart and worth more to me. The Mini Cooper S I have is also on PCP and I like that every 3 years I can just swap it in and get a brand new one as the car is just a car, although a brilliant car but doesn't mean as much to me if that makes sense.
I wont be taking PCP again tho.
I agree with breaker tho. Especially with tims argument. Keeping the car nice is one thing but as its on PCP and you will hand it in at the end of the term taking it off the road for the winter... doing what was it less than 2500 miles? just seems ridiculous to me. Each to their own, but you might as well get the most out of it, they wont care what condition its in. Its like a dealers wet dream. They will get the money out of you and sell it for top book when it gets swapped.
Its basically paying to borrow a car and not using it. If it was exotic I could understand.
I keep mine in the best condition I am able but it gets used as much as possible and I enjoy every mile.
The main reason for having the M was because of the awesome roads up here. If I moved into the city I wouldn't be able to make the most of it so I would most probably sell.
The thing with the M is that for me anyway buying the car at the end of the term makes more sense. The current market value is worth more than giving it back, they are rare and sort after and im sure I wouldn't have any problem selling it after being inundated with emails the other week when i put send me your best offer on that thread, so although im not making any money its worth considerably more than the final payment. If it were a 'normal' car then it would be head over heart but with the M its definitely heart and worth more to me. The Mini Cooper S I have is also on PCP and I like that every 3 years I can just swap it in and get a brand new one as the car is just a car, although a brilliant car but doesn't mean as much to me if that makes sense.
I wont be taking PCP again tho.
I agree with breaker tho. Especially with tims argument. Keeping the car nice is one thing but as its on PCP and you will hand it in at the end of the term taking it off the road for the winter... doing what was it less than 2500 miles? just seems ridiculous to me. Each to their own, but you might as well get the most out of it, they wont care what condition its in. Its like a dealers wet dream. They will get the money out of you and sell it for top book when it gets swapped.
Its basically paying to borrow a car and not using it. If it was exotic I could understand.
I keep mine in the best condition I am able but it gets used as much as possible and I enjoy every mile.
same performance, more torque & better mpg its a no brainer! Looks still divide opinion though tomscott said:
Cars are my hobby though, so I use it as much or as little as I like, still get the enjoyment and the pleasure of looking after it, if I trade in for another on a pcp I'm still a happy bunny with a new car. There is still for me the pride in ownership whether its mine or not financially wise. It's like renting a car on holiday, I still take care of it and don't rag it, just the person iam :wink:
Tim.
Don't get me wrong, I've also been down the "clean the car whenever possible" route, mainly with the MINI's I've owned, but I soon got to realise it actually doesn't benefit you or the car that much in the end.
Like a reformed smoker, ex-addicts are usually the most judgmental!!
My wife hardly ever cleans her MINI S and it gets plastered during the winter (daily driver). One 10 min jet-wash at the local garage a year and it looks as good as a new one!!
Like a reformed smoker, ex-addicts are usually the most judgmental!!
My wife hardly ever cleans her MINI S and it gets plastered during the winter (daily driver). One 10 min jet-wash at the local garage a year and it looks as good as a new one!!
Breaker said:Don't get me wrong, I've also been down the "clean the car whenever possible" route, mainly with the MINI's I've owned, but I soon got to realise it actually doesn't benefit you or the car that much in the end.
Like a reformed smoker, ex-addicts are usually the most judgmental!!
My wife hardly ever cleans her MINI S and it gets plastered during the winter (daily driver). One 10 min jet-wash at the local garage a year and it looks as good as a new one!!
But theres the difference, for me its a hobby keeping the car looking good and the satisfaction that gives it to ME not BMW, for you it sounds like its just something to get you from A to B
:wink: Tim.
