Question for those with PCP car finance

[Youngatheart00]

Quick Q - when you have come to the end of your term have you found there is enough ‘equity’ in the vehicle vs your remaining finance to provide a deposit for another car?

Yes, I’ve had 5 PCP cars now. I’ve always kept the mileage low though and serviced them every year.

No. I learnt that time and paid the second loan off straight after.

My mileage is significantly under that estimated (I’m talking 60-70% lower). I have heard bad things about PCP but thought that was limited to paying over the odds for excess mileage. Maybe not.

To be honest, if you are buying in to a new contract I don’t think they are that fussy. The dealers just want you to keep rolling with PCP contracts over the years. I’ve done just that as it suits me but I have always had bottom of the range, cheapest cars they offer.