O/T:- PCP car finance help

[ncfcog]

Sorry for starting another OT thread but I'm trying to find PCP car finance for a car I already have available to me. All the offers I can find online appear to be via car dealers only and linked to cars being sold by them. I just need someone to provide the finance. Anyone got any ideas or can point me in the right direction? Thanks.

[Chicken Balti Pie]

Sorry for starting another OT thread but I'm trying to find PCP car finance for a car I already have available to me. All the offers I can find online appear to be via car dealers only and linked to cars being sold by them. I just need someone to provide the finance. Anyone got any ideas or can point me in the right direction? Thanks.

I don't think you can do that. Are you saying you need to extend your current PCP deal?

PCP basically says you are leasing the car and you can purchase the car at the end of the agreement for an agreed sum. If you are buying private, this probably isn't a route that's available to you. You might be better off with a longer term bank or car loan?

[ncfcog]

I don't think you can do that. Are you saying you need to extend your current PCP deal?

PCP basically says you are leasing the car and you can purchase the car at the end of the agreement for an agreed sum. If you are buying private, this probably isn't a route that's available to you. You might be better off with a longer term bank or car loan?

No, I've just leased a car for two years and now have the chance to buy it but I want to do a PCP instead of normal loan. I've checked and it is possible to do this but just struggling to find a funder online.

[Chicken Balti Pie]

No, I've just leased a car for two years and now have the chance to buy it but I want to do a PCP instead of normal loan. I've checked and it is possible to do this but just struggling to find a funder online.

Could you speak to a dealership? They'd effectively buy the car and you'd pay via their finance company?

[ncfcog]

Yeah I did think that, I've managed to negotiate the lease company down to 15% less than bottom trade book price on the car so thought it might prove a bit awkward going to a dealer to ask them to finance a car that's cheaper than they might be able to buy it for! If all else fails I'll give that a go. I can get a loan but obviously the PCP option offers more flexibility with the balloon payment and cheaper monthly costs.

[Old_pie]

I've not studied the whole article but there's a list of on-line brokers at:

https://www.moneysavingexpert.com/ca...chase/#brokers

[ncfcog]

I've not studied the whole article but there's a list of on-line brokers at:

https://www.moneysavingexpert.com/ca...chase/#brokers

Thanks OP, was the first place I looked. They all seem to want to pair you up with a car seller/dealer except Zuto who just want to sell you a car loan at extortionate APR!

[magpie_mania]

I don't really know how these things work - but to have it by PCP wouldn't you need someone else to purchase it? Not really sure why another dealer would want to do that, apart from the small amount they might make from the finance company.

As you say, they might be that impressed to buy a car costing less than they would buy it at!

And of course, what if you didn't want to buy it at the end ....

[irishpete]

Go & get the car valued independently 1st before thinking they have given you a good price or go on line to Arnold Clark Trust Ford Evans Halshaw
Bit cheeky but why PcP? just the fact lower payments? That is what entices most on it but the bigger picture is, it's not cheap in the end

[ncfcog]

Go & get the car valued independently 1st before thinking they have given you a good price or go on line to Arnold Clark Trust Ford Evans Halshaw
Bit cheeky but why PcP? just the fact lower payments? That is what entices most on it but the bigger picture is, it's not cheap in the end

Already had the car valued, it's 15% below rock bottom trade, 25-35% below possible retail. PCP suits my monthly budget better, although it might cost a little more in the long run.