Car sales are down and it looks like the franchises are getting desperate (see Email at the bottom)
My car is over 7 year old and when i replace it it will not be with a new one, people buying cars on PCP are going to move to a new car when the warranty is about to run out as its going to cost them nothing to replace it (see 3 below) meaning there is going to be a good supply of low mileage second hand cars for the rest of us.
https://www.moneysavingexpert.com/car-finance/personal-contract-purchase/
3. Get a new car. This is the most common option for people taking a PCP deal. Usually at the end of a PCP deal, the car will be worth slightly more than the balloon payment. And if this is the case, your dealer will usually ask if you want to use that 'equity' as a deposit on a new PCP deal on a brand new car. For example, if the car’s actual value at the end of the deal in the example above was £9,000 and the balloon payment is £8,000, you’d have the difference of £1,000 that you could use as a deposit to roll into another deal.
Email from Vauxhall.
It’s time to get out with the old and in with the new. If your car’s more than 7 years old, trade it in before 30 June and we’ll give you a guaranteed £4,000 Scrappage Allowance towards a new Vauxhall with 6.9% APR Representative.
That’s a great new, fuel-efficient Vauxhall for less. We'll even give you 20% off Vauxhall Approved Accessories† so you can really make it your own.
To find out more and get a valuation on your old car, simply head to our website.
My car is over 7 year old and when i replace it it will not be with a new one, people buying cars on PCP are going to move to a new car when the warranty is about to run out as its going to cost them nothing to replace it (see 3 below) meaning there is going to be a good supply of low mileage second hand cars for the rest of us.
https://www.moneysavingexpert.com/car-finance/personal-contract-purchase/
3. Get a new car. This is the most common option for people taking a PCP deal. Usually at the end of a PCP deal, the car will be worth slightly more than the balloon payment. And if this is the case, your dealer will usually ask if you want to use that 'equity' as a deposit on a new PCP deal on a brand new car. For example, if the car’s actual value at the end of the deal in the example above was £9,000 and the balloon payment is £8,000, you’d have the difference of £1,000 that you could use as a deposit to roll into another deal.
Email from Vauxhall.
It’s time to get out with the old and in with the new. If your car’s more than 7 years old, trade it in before 30 June and we’ll give you a guaranteed £4,000 Scrappage Allowance towards a new Vauxhall with 6.9% APR Representative.
That’s a great new, fuel-efficient Vauxhall for less. We'll even give you 20% off Vauxhall Approved Accessories† so you can really make it your own.
To find out more and get a valuation on your old car, simply head to our website.
Last edited:
