AIBU to buy a car on PCP???

[MoonbeamSprinkles]

I have never bought a car before and I'm totally confused about what's for the best.

I have just passed my test and am looking for a Kia Picanto 3, I'm not the most confident driver so I like the fact it has reversing cameras etc.
I have about 8.5K saved and earmarked for the car.

My options are

1. Buy a 3 year old car outright for about 8.5k.

2. Buy a nearly new car for around 12k and dip into rainy day savings.

3. Buy a new car on PCP put down a 5k deposit and keep the 3.5k for the monthly payments and hand the car back at the end.

The dealership offer very low rates on PCP but it looks too good to be true, I've never had a credit card or loans and I hate the thought of being in debt.
It would be nice to have a brand new car that I could 100% trust though.

If I have a PCP contract and I want to trade my car in would I need to put another cash deposit down when I give it back?

Any advice would be helpful, I'm a long time lurker of mumsnet and you always know whats what when it comes to cars.

I prefer the look of the picantos but I think that’s mostly because I think the aygos have mean little faces which I appreciate is not a sensible way to choose a car

Option 1. PCP is daft.

@MoonbeamSprinkles

I’m test driving the automatic and the manual tomorrow so I’ll see how I get on.

It’s great to hear that you got over your fear and you like the picanto though it gives me hope.

Good luck! I know how crippling it is having a fear of driving - since having the car, I've been making myself do a little drive most days, and it although I'm still nervous, it's definitely getting a little easier each time. It's still really weird seeing my car parked outside my house! But I feel really proud of myself that I've started to overcome the fear - you should feel proud too :)

@MoonbeamSprinkles

I prefer the look of the picantos but I think that’s mostly because I think the aygos have mean little faces which I appreciate is not a sensible way to choose a car

I had exactly the same thoughts about the Aygo!

Thanks Burttie

It’s a huge deal!
Ive been so ashamed of not being able to drive for so long and the thought of there being light at the end of the tunnel is amazing.

I bet you get a little rush whenever you see your car. Well done!

My wife's a driving instructor (or rather was until Covid) and has used two Picanto's for instruction, both have been excellent.

If you do for the Picanto check the spec carefully as it changes regularly - in particular I strongly advise you look for the 1.2 petrol, as the 1.0 (non-turbo) is underpowered while the turbo version is only available on the top spec cars. It looks like they don't do the 1.2 anymore, but they did until recently - just look for a post-2017 version.

We ran a 1.0 non-turbo for a couple of years and it did the job, but if it's your only car it's not great for long journeys - same engine size as the Aygo.

Re PCP - it's not the work of the devil, whatever some posters might say, but you need to understand what you're getting into. I'd go for the three-year-old car - just whatever you do don't get PCP on a used car (new ones have dealer and manufacturer incentives so can be good value).

Our 3-year-old Picanto 1.2 with 30,000 miles on the clock that's been driven by multiple learners is absolutely fine, you don't need to go new.

@MoonbeamSprinkles

I prefer the look of the picantos but I think that’s mostly because I think the aygos have mean little faces which I appreciate is not a sensible way to choose a car

I thought the same about the Aygo! I really wanted one a one point as I thought they looked angry. I also think the Picanto GT Line has a mean look about it, especially in black with the red trim

Apparently the Aygos are designed to look like manga characters and it really shows.

I am warming to them to be honest.

My wife's a driving instructor (or rather was until Covid) and has used two Picanto's for instruction, both have been excellent.

This is excellent news!

Could you ask her if it’s got difficult clutch control to learn?

Thank you!!!

There is another option look for a pre-registered or ex demo car. It will be last years model but still be at the first dealer with tiny mileage, practically brand new but a lot cheaper.

I got my car as pre-registered. All that means is the dealer got it in new but hasn't sold it yet, and wants to sell it off cheaper as its not new new anymore. Mine had just under 200miles on the clock and was 2.5k cheaper than this years.

Or their ex demo cars have only been driven gently round a short local route. Again its effectively a new car at a discount.

You could get a small bank loan or even better stick the difference on a 0% credit card.

Re the Picanto clutch - no problems at all, apart from a little bit of judder when it’s cold for the first mile or so - quite a common Kia issue but nothing to worry about.

We found the 1.0 less flexible than the 1.2 - neither is a rocket ship, but the 1.2 is more forgiving of being in the wrong gear and harder to stall.

The 1.0 engines are great fun to drive, they make a lovely sound and the turbo version is nippy, it’s just the 1.2 is easier to live with.

The auto uses the 1.2 engine by the way.

Forgot to add - the gt-line didn’t have Satnav and camera initially but it was introduced later in 2018. If you get an early version of the latest model check it has adjustable seat height - again, some of the earliest ones didn’t have it.

dontpress

Well I’m glad you came on the thread, that’s all really useful thank you!

Hopefully I’ll have enough info to bluff the salesman into thinking I know my stuff tomorrow.

‘Can I just check that has the adjustable seat height, as I know some earlier models don’t’

I’m rather taken by the sportier model to be honest, I agree with a pp it has a mean green look which I quite like.

I recommend option 1
I have a Kia picanto and it's lovely as a run around , low cost to run , my second one in a row
I think 8.5 k may be a little light for a 3 year old one , I paid that plus traded my old one in ( worth around 2)
I went for an automatic as it's my preferred gearbox and they are usually ex mobility cars and therefor pretty low mileage , at 3 yrs old mine was 4500 miles

I’m very happy to see so many people pleased with their picantos.

If I need to go over 8k I can dip into savings and pay myself back like a loan.

I think I could easily get a manual picanto for 8k but might struggle for an automatic

I nearly went for a Picanto, it was definitely on my list of cars to choose from. I only got as far as sitting in it though

OP I would be wary about blowing all your savings on a car- in any situation. A rainy day fund is always a good thing to have.
If you have additional savings then fine, but if yu need a small runaround car you can get a decent second hand for £2-3K.
Save your money.
It may feel good to blow it on a fancy car but savings can be used for other good things too.

What put you off cat ?

@speakout

OP I would be wary about blowing all your savings on a car- in any situation. A rainy day fund is always a good thing to have. If you have additional savings then fine, but if yu need a small runaround car you can get a decent second hand for £2-3K. Save your money. It may feel good to blow it on a fancy car but savings can be used for other good things too.

You’re hardly talking a fancy car for £8k!

Have you gone off the Aygo @MoonbeamSprinkles?

You’re hardly talking a fancy car for £8k!

It is a fancy car it is all your savings- all relative.

Have you gone off the Aygo

I like both! I’m going to go and see both.

For some reason the picanto feels more grown up but this might be because I’d feel like I was driving my mothers car. The picanto would feel more mine.
But I do really like the aygo so if I don’t like the picanto tomorrow or it’s not as nice to drive as the aygo that’s what I’m going to get.

Don’t worry, it’s not all my savings.

Have you looked at having a reversing camera installed independently by some where like Halfords? I think they do parking sensors too.

If you aren't a very confident or experienced driver I'd go for a 10 year old car for £3k, drive it for a few years (and build savings back up) , it should still have plenty of life in it then upgrade when you are more confident.

I would avoid PCP etc at the moment as the economic and job market are likely to be in flux for a bit following covid. Or perhaps look at a low interest loan with somewhere like first direct, £7k over 10 years at 3.3% is less than £100 a month so easier to manage if you lose your job or don't have work, you'll own the car and put your savings in premium bonds etc which you could use to pay the loan back if you got in financial trouble or you'll have the savings to pay for car maintenance etc.

@MoonbeamSprinkles

What put you off cat ?

Nothing to be honest, I really liked it and would have definitely have one but I decided to go for a Mazda instead this time.