New car working out more expensive than second hand nearly new

[Springmachine]

My car is old and is due a lot of money spending on it.

I started looking at replacing it with a nearly new second hand car. I only have £5k to put towards the car so will need to finance the rest.

After getting the quote for the pcp finance on the second hand car I selected the ideanticak car but brand new and due to contributions and better rates of finance the new one would cost £3k less over the whole of the term and save £40 per month in payments.
This doesn't seem right?!

Has anyone else found this to be the case?

Do you get to keep the car at the end?

Sounds about right, the brand new one will have 0% offers in place,

however - are you eligible for a low rate loan to buy the 2nd hand one? You may find overall that works out cheaper again.

I found it was cheaper to buy new (or at least no more expensive). However I also found HP was cheaper than PCP, so did that and paid off early making it even cheaper.

The rate of interest on the new car is 5%, I'm currently being offered just under 4% on a personal loan but I wouldn't get the dealer contribution that way.

I'm m quite nervous about financing such a large purchase. I've always just bought 7 or 8 year old cars and kept for a few years but it's worked out so expensive in the long run I think I might be doing it all wrong

Interested in this OP. I'm confused though, I think your title contradicts your first post. Do you mean that buying the same car new is cheaper than nearly new?
Don't forget depreciation on a new car will be much steeper.