Pcp clio trophy 220

[REM261]

hi
apologises for sounding thick but could anyone give me any info on the following :
in renault yesterday having shock fitted got talking to salesman next thing sitting at desk doin figures on 220 trophy.
with my car in trade was coming out at £148 pm over 48 months on PCP.
my question is after the 4 yrs if I don't pay big final payment of £7000 what do I actually walk away with ? I know this sounds stupid but can't get my head round it . Think I'm just been seduced by the £148 pm figure !!

 

[Matt W]

If the car is worth say £7500 at the end, then you'll have £500 to use towards the deposit on another car.
You can also just hand it back and walk away. (Unless you've gone over the included mileage)

 

[Matt W]

Also if going brand new, there's huge savings to be made through carwow etc.

 

[REM261]

Thanks Matt. So basically whatever the car is worth over and above the end of term big payment is mine to put against a new car ?

 

[rubyredelise]

That's a great monthly figure REM261. Was that using all of your car as a deposit. When I went to a local dealer think they suggested putting about half of my car in (£3500) and it came out around £280 odd a month. Bought my current Albi Blue 200 on PCP 5 years ago, at the end of the 2 year deal I chose to pay off the outstanding amount and keep the car.
Not sure what I would have been offered by Renault for it, and whether I would have had any deposit to put against a new car.

 

[REM261]

Hi
yeh the figure sounded good. That was with them offering £8800 for mine . They suggested same as they told u. Holding back about £4000 on mine that took payments to £251 pm. Or a straightforward HP finance using all my car as deposit was coming in at £271 . Don't know what to do. Never even gave a new car a second thought only went get a shock absorber sorted . And they had a trophy 220 so just said for a laugh what you offering against mine for that and it just snowballed !! Haha

 

[Warren]

I'd straight HP @ £271 using the full £8800 deposit from your car, at least you'd own it after 4 years and would come out with more money than PCP.
It's just a case of working out all the payment options, total payments and what they're giving you at the end of the term as a fixed value for the car. I don't really like PCP so my opinion might be a little biased but based on figures and with your car being such a massive deposit I'd say straight finance would be better anyway. You'd own the car and it would be worth way more than the value they would give you as they give you trade in price don't they? Nothing like a private sale value.

 

[REM261]

Thanks warren . That's great info . I've never had PCP before because felt I never really own car unless commited enough to put aside £7000 for 4 years ready for last payment . It was just the £148 a month figure that made my eyes light up. Haha and totally pushed the final payment out my mind . I'm just looking now at reviews on few other cars in that price range and deciding if I should stick to renault . Only looked at mini JCW upto now

 

[Jimmy]

IMO PCP is a decent, cheap(ish) way of getting your hands on a brand new car. If you are happy with handing it back and then getting something else on the same basis for another x months, then essentially you can keep yourself in brand new cars for as long as you want.

The downside is you never own the car, just 'rent' it for that period. Unless of course you choose to make the final payment at the end of the term. Like everything, there's pros and cons and you have to sit down and work out what is best for you.

Sounds like the salesman was very good at his job go in for a shock, come out with a brand new car

 

[REM261]

Thanks Jimmy . To be honest it was Goin in one ear and out the other unless I heard the figure £148 !! I said I'd think about it . Had 2 voicemails and a text message so far off the salesman today !!!