[Sussex_G20]

On the OT Superb thread Mark observed

"I have a feeling we on this forum may not be truly representative of those who really have tough times; taking the bus; paying for electric £5 at a time etc..."


So does any one actually purchase their BMW these days? Or are the majority PCP purchases because:


We like not funding the unused portion of the car price?


We perceive it is cheaper balanced against depreciation

or


It is the only way it is affordable?

[Buttons]

Personally, I bought outright but did debate PCP just couldn't decide what to for the best.......

[philbake]

Originally Posted by Sussex_F32

On the OT Superb thread Mark observed

"I have a feeling we on this forum may not be truly representative of those who really have tough times; taking the bus; paying for electric £5 at a time etc..."


So does any one actually purchase their BMW these days? Or are the majority PCP purchases because:
[INDENT]We like not funding the unused portion of the car price?

We perceive it is cheaper balanced against depreciation

or
[INDENT]It is the only way it is affordable?

I purchased both my '13 328ix (new) and '10 X3 (CPO). Had leased before....plan to keep the cars. But, we'll see how that goes.

[gatsojon]

I bought mine but would certainly consider both PCP and leasing next time.

[jusdorange]

There was a time in my life whereby even a bus fare was a luxury

But bought my F30 because just simpler

[Buster Blue]

Originally Posted by Sussex_F32

On the OT Superb thread Mark observed

"I have a feeling we on this forum may not be truly representative of those who really have tough times; taking the bus; paying for electric £5 at a time etc..."


So does any one actually purchase their BMW these days? Or are the majority PCP purchases because:


We like not funding the unused portion of the car price?


We perceive it is cheaper balanced against depreciation

or


It is the only way it is affordable?

I purchased mine outright as I will retain it for a few years but interested to know peoples views whether to buy or PCP if keeping.

[CraigUK]

I bought mine because it gives me more flexibility. I'm not in a position where I feel forced to make a move in x years time.

[brommy]

Bought mine outright because the interest I would pay on any other purchase method was greater than the interest I could reliably earn if I'd initially kept the capital and paid 'on the drip'.

I was open to other payment methods and did seek advice before I committed to my chosen method of purchase. One line that was trotted out was apparently that rich people buy what appreciates and lease or hire purchase what depreciates. Unfortunately no one was able to demonstrate that it actually makes sense given the figures currently associated with PCP/loan interest rates against reliable investment rates.

[Tengocity]

Current car in finance but bought last car outright, and company cars before that.

But I realised when I bought a car outright that I really needed to set aside a chunk of money each month to save to replace it again in a few years so what was the point if interest rates on finance were good?

I'd rather not tie up that cash in my car but have invested/in cash or paying off more of my mortgage.

The car is a depreciating asset and I get paid monthly so a monthly Pcp payment makes perfect sense to me.

There's no right or wrong way, just what works for you.

[Notechy]

Bought it outright, as I always do, from savings or low cost offset mortgage.

[....,,,,..,,..]

Current BMW is PCP And will likely hand back at some point.

As we tend to be a 3 car family, we buy to and pcp the other.

So daughters and wife's car will buy, while I keep mine on pcp.

However next time round, may buy mine and pcp wife's.

[Andrewthefirst]

Took mine on bmw finance and paid it off the next day thanks to some good advice on here. Own car outright (sort of) although I have a £15k m&s loan (3.6%) which I plan to chuck money at now and again to clear ASAP.

My car was a year old when bought albeit with only 22 miles on the clock- when buying used the above worked best for me. Plan to keep her for a good few years. With new PCP makes good sense.

Personally though I hate the commitment of high monthly outgoings and I like to 'feel' I own the car, therefore have a tendency to buy all or most of the car. I love my detailing and wonder if I had a lease for example, would I still anally scrub and polish things like exhaust pipes and door shuts

[335dJa]

I couldn't or wouldn't justify spending £50k real money on a car that will drop like a brick in value, I think of the pcp as just a rental payment.

[andrew.webber]

I had this discussion with myself many times an I eventually ended up buying outright.

At the time I had the spare cash and did plan to keep the car for a lot of years (kept my last one for over 11 years) but now I am thinking that I will change when the car is 3 years old and will probably buy again (but it may not be a BMW I am afraid !!)

[pmheadwired]

I had up until a few years ago always bought cars via car loans. In the past I always bought the best second hand I could afford but always felt it leaked money, never held its value well, and I was always left in serious negative equity when I looked to change cars. Plus MOT and maintenance of older cheaper brand cars was a typically a nightmare for me.

I now view a car as a monthly out going and prefer the fact I don't outright own the car and can get rid of it one way or another if something financially crippling happened.

PCP and leasing also give me access to vehicles I probably couldn't afford to purchase outright or finance in one go with a loan so that aspect of it makes it very appealing to me.

[TheLiverBird]

Bought my first dozen or so cars (Fiats, Toyotas, Mazda, BMW 1 Series) with personal loans. But then on visiting an Audi dealership was told about PCP and the benefits. Was dubious at first but went ahead anyway. Basically for the same monthlies as a Toyota Celica, Mazda MX5 I could get a £40k+ Audi A5 - a car I'd never even considered before this point as thought I'd be well out of my price bracket. Roll on 5 years and I've had another A5, Merc C-Coupe and soon to be 435D M-Sport.

From my point of view, as I never paid off the personal loans anyway, and as I always traded in, going PCP was a no-brainer. I'm sure once I have enough cash spare to purchase outright I may well do (especially if savers rates are as low as they are today) but at the moment this isn't a possible financially.

[pjs]

I PCP'd on this occasion because of the 3.9% APR and hefty 'discount' - it allows me to drive a nice car for my 'monthy' budget. Its still depreciating like a stone though, with 25k miles on the local stealer only a couple of days ago offered £26k for it at just 13 months old - a car that listed for £52.5k and bought for £42.5k.

Whether it's cash or finance, the biggest cost by far is depreciation so it matters not a jot imho. Only the lease monkeys have a 'finality' about their budget.

[Isow]

I always buy used, ex demos or BMW used cars etc..
My 328i was 6 months old, 2,700 miles, £13000 under list + 5 year servicing package. Not many people wanted a petrol and probably less wanted a Modern.
I really like the light coloured interior of the Modern.

[Damon44]

We were burned so badly by purchasing our previous two vehicles ..both 2013 sedans that leasing was the only thing that made sense.
If you spend more than say $35000 on a car you will be upside down on depreciation almost immediately.
They depreciate like a rock and your payments never end.
I dislike old cars and love new technology so a lease keeps me smiling. I leave my retirement savings in the bank and merely finance the portion I am using. Then walk away in three years.
I never again want to drive someone else's headache.that's why I worked so hard and went to school so long. Sacrificing when I was young for benefits now. As it should be.
Scraped together and did without to save for the future.
Leasing let's me keep my money in the bank and with rates on bmw about 3.9% I can beat that on investments most years.

[evan15281]

My wife's car (New Seat Alhambra) was bought on 0% APR from dealer, hire purchase, approx two thirds up front. Plan to keep at least 5 years. Top spec and I have to say, love the electric sliding doors, panoramic roof etc. It was bought to replace a 6 year old S-MAx that was about to cause big expenses.

My F30 is bought on PCP with minimal deposit. My track record is of frequent car changes and this gives me flexibility.

I like having one car bought on each method and I am also overpaying my mortgage currently.

[PaulT_M5]

All my previous cars and current F30 have been bought outright.

My M5, due next month, is on a PCP and the only reason I'm doing a PCP is it's on a 0% rate. I could pay for it outright, but my capital is better in my savings and investment accounts making money than in a car that is losing money.

As I've already paid a £2k deposit for the order, it's going to be an interesting scenario when I go to pick the car up as I turn up in my 335i, drive away in an M5 along with a receipt form the dealer for the value of my trade-in going back into my bank account.

[ska///235i]

I always buy...whats PCP?