Cars

[carryharry]

Must have required a large % deposit up front?

[maroonandwhite]

All the rage in North America. I don’t believe in the concept but some swear by it, keeps you in a good car thats in full warranty so no chance of having to fork for repairs (unless you plough into a tree after 12 pints) you have to get it serviced at a main dealer usually so they get you that way, and the final purchse price (which is set at the beginning of the lease) is not hugely competitive given the usually high lease payments but at least you know the car and its condition etc before making that decision

[Fagan_ODowd]

Can’t remember. It was the last time VW’s name was muck and they could hardly give the cars away. There was 3 years free servicing thrown into the package iirc.

[mapdk1]

@johnnysachs

You would buy 2 fine cars for that amount which you would own outright without having to adhere to seemingly endless terms and conditions. Thoughts?

That my thoughts there.

Buy a handy Toyota for a few hundred quid and when you have more money buy a newer one. You’de be foolish to buy a brand new car.

[johnnysachs]

It seems to be a huge premium to pay and you are hamstrung by endless terms and conditions. It doesnt seem like good value. Knowing you cant exceed certain mileage, notification to dealer if someone else drives the car, wanting to bring car abroad, knowing they can inspect the car within 10 days of notifying you. The list is endless. There is not much ownership value there. Its glorified car rental to my mind. You could just buy a 151 golf TD for €20k which you could hold for say 5 years. Net realisable value of car an 8 year old Golf at that point would be €5k by which time you can buy a newer model again.

[maroonandwhite]

@johnnysachs

Knowing you cant exceed certain mileage, notification to dealer if someone else drives the car, wanting to bring car abroad, knowing they can inspect the car within 10 days of notifying you. The list is endless

Wtf

[Little_Lord_Fauntleroy]

What’s up

[maroonandwhite]

Those restrictions don’t generally exist in the new world

[Little_Lord_Fauntleroy]

It’s oireland mate, we are servile

[maroonandwhite]

The average IQ in oirland sits around 90, Canada for example is 99 or so. This forum is an oasis in an abyss of simpletons.

[flattythehurdler]

The other thing to bear in mind is that the car has to be returned in good order. A pal of mine recently had to spend £1500, about a thousand euro in todays money, to get the bodywork pristine, including the wheels, before being able to hand back the car and roll it over.
That said, if you want to drive a brand new car every two or three years it might be worth it to you.

[maroonandwhite]

Yep it’s for people who never want to drive a car that’s more than three years old. youd lose more in depreciation or trade value if you straight buy over leaseing. Kinda Celtic tigerish

[flattythehurdler]

Reckoned by some to be the next credit bubble. It exploded the motorbike market. There should be a significant reduction in second hand prices as these things are flipped.
At some point it’ll end in tears no doubt.
Then, of course, you’ll have people crying that they should never have been allowed to sign up.
Indivually it may work, but the scheme as a whole looks a bit ropey from all angles.
Wonder if they’ve started the oul coefficient analysis to parcel the debt, triple a rate it, and sell it.
I suspect they have.

[gilgamboa]

@maroonandwhite

Yep it’s for people who never want to drive a car that’s more than three years old. youd lose more in depreciation or trade value if you straight buy over leaseing. Kinda Celtic tigerish

Discussed ad nauseam earlier in this thread. A poor scheme. Anywhere it looks like an industry is giving you a great deal look twice, then a third time.

[Julio_Geordio]

@flattythehurdler

Wonder if they’ve started the oul coefficient analysis to parcel the debt, triple a rate it, and sell it.

I suspect they have.

They have stateside anyway. They are unreal fuckers for the bundling of debt.

[TheUlteriorMotive]

Hard to know how garages make money on this - they must be on big commission to sell finance and then rebates for new cars.

It’s the right idea for a consumer - rent a depreciating asset. Trick is to understand that lower monthly cost is just renting and not to be tempted to over extend to a car you would not otherwise be able to afford

[Julio_Geordio]

I was talking to a lad a while back and he was telling me he had to drive his missus car on long journeys because he’s getting near his mileage limit
Sure that isn’t even renting a car.
PCP is grand once you stay locked in the PCP cycle. It’s when you come out of it and you’ve no car and no car to trade in that you are in trouble. You’ve the option to buy at the end of the cycle, but sure why not buy it first day then. The guaranteed minimum they’ll give you is, I understand generally less than the car is worth, but they’ll do a deal to roll you back in and keep you on the cycle forever.

[carryharry]

@Julio_Geordio

I was talking to a lad a while back and he was telling me he had to drive his missus car on long journeys because he’s getting near his mileage limit

I was talking to a chap who has been buying cars through PCP for 4 or 5 Years.
He is on the road Daily and just gets the car clocked before it’s due for return. God bless the poor cunts buying his Returned cars with up 40,000km wiped off the odometers.

[Julio_Geordio]

@carryharry

He is on the road Daily and just gets the car clocked before it’s due for return.

Would it not be nearly impossible to clock a car these days?

[Julio_Geordio]

@Julio_Geordio

@carryharry

He is on the road Daily and just gets the car clocked before it’s due for return.

Would it not be nearly impossible to clock a car these days?

I’ll answer my own question. No it’s even easier.