AIBU to ask…

[hiddeneverythin]

Those of you who drive a new-ish SUV - what do you pay and how do you finance it? I’ve been shopping round for a family car recently and the monthly payments on PCP are eye watering. Is there a better way?! (I need to change my car!)
Thank you!

@CantHoldMeDown Thank you! That’s certainly different to how I do it!

Yeah I have a ‘21 plate Skoda kodiaq (really rate it!). We bought it last year (so it was 3 years old) for £19k. Took out a 5 year bank loan which is £350 per month. We plan to keep it more than 5 years so will have hopefully a few years of no monthly payments (though of course some repairs are likely so there will be some cost). Personally I’d rather do that than go on PCP for a brand new car. Cars these days are much more reliable so no need to go brand new in my opinion!

When you finish paying off the new car, put the same amount into savings each month. Then when you need the next car you will have a hefty down payment, or possibly the whole lot.