Are Car PCP deals the best option?

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I cannot decide. Let’s say hypothetically you have the cash to buy a car outright, is it better to do this rather than take out a PCP deal? I’m so confused! Can anyone provide some clarity? I guess it’s in the best interest of the car salesperson to persuade you to take out a PCP or HP deal as they get commission. Looking for impartial views.

If you get a very low interest PCP, are a very careful owner who can stay within the mileage, while also think you will want a new car in 4 years then it makes sense to go PCP but I think financially buying outright makes more sense.

It depends on what your priorities are.

PCP works if you don’t want the car long term. That may be because you want a new car every few years. You may need a big car now because of kids but expect they’ll all have moved out/got their own cars and you can downsize to a small car. If you don’t want to own the depreciation of a car. If you want to try and EV but not sure if you’ll like it. You want the reliability of a new car.

Some people want to own a car and so will never consider a PCP.

Duplicate post.

It's obviously a good deal for companies that sell cars or they wouldn't be pushing it, which rather implies it's not a good deal for you.. For the consumer it all depends on what you want, is having a new car on the drive to impress the neighbours important or would you rather own something a bit older and a lot cheaper. There is always a bit of a gamble on maintenance bills, yes occasionally you get a big one but that's life. IMO buy a 3 year old car that's been leased to a company, it will have about 60k on the clock and full service history.

Rarely.

I’ve always done HP and paid it off quicker than I committed to. This time I went for PCP on a three year old car, reason being I’ve never had a car last me much longer than when I paid it off and I’m fed up of it so thought I would try this way this time.