PCP Mileage

[Mark V GTD]

Arnold makes some interesting and relevant points. Certainly I would have agreed with him 100% before my last PCP experience:

Golf GTD (DSG) with about 3k of options on it (Pro-nav, Dynaudio, Winter pack , camera etc)

Bought through drive the deal for 26k (13% disc) and financed over three years
Sold after two years for 17,750 (the car was virtually as new apart from tire wear). At that point the finance settlement figure was 19,250 so I had to pay 1,500 to get rid.

Now had I kept the car for the full three years the final payment would have been 16,041. Would I have got that in a private sale - maybe, but not sure I would.

[fredgroves]

I think a lot of the pcp problems I've seen described are related to the gfv figure. Sure if they make it too high you'll pay less monthly but then discover that you have no equity at the end. It all is effectively the same, there is no such thing as a free lunch but people are perhaps shocked when it "goes wrong"

[Little Lofty]

I think with the value of diesels in free fall, VAG and many others will be getting many more cars than usual handed back over the next few years.

[Mark V GTD]

I sold the GTD in March of 2016 actually - still miss it.

In my view what actually sunk my PCP was the optional extras on the car which upped my initial cost by 3k but probably had negligible difference in actual value come sale time. To be fair, having those options on the car (and the late lamented Carbon Grey paint) made sure the phone kept ringing so the car shifted inside a week or so.

It would be interesting to run the figures on the same car sans options.