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      02-21-2013, 12:05 PM   #24
Lieutenant Colonel

Drives: E90 335i M sport
Join Date: Jun 2011
Location: Leicester

iTrader: (1)

Originally Posted by Mike in Hampshire View Post
I suppose it just depends on whatever deal they put in front of you, and whether you want to keep the car or change it at the end of the term.

I think this is the key, I can never see my self spending 400/months + for 24-36 months and than just handing the car back. But I understand the argument about loosing money on depreciation etc but I just cannot justify it to myself.

But at the same time I could never spend 30K on a brand new car and watch it deprecate like mad...which probably explains why the newest car I've ever bought was 24months old.

My wife on the other hand bought her Civic as an Ex-demo for cash. The dealer tried his hardest to make her go down the PCP/Finance route, trying to tempt her with the idea of driving a new car every 3 years etc..but she wasn't having any of it.

It cost 15K newish 5 years ago, we've put 70K miles on it, and apart from fuel/tyres and servicing not spent a single penny on it. I have no idea how much its worth, she doesn't really care either (which is good because it means the 335 never has to do any of the long trips or vist any multi-storey car parks with high kerbs). We'll probably replace it in another 4 years when its got well over 120K on the clock....

By than it'll be worth 1k+ at the most so she would have "lost" 14K over 9 years. But had she gone done the PCP/Hire purchase route say spending 250/months (I have no idea if thats realistic) over 9 years that would have cost her 27K (not including any deposits).