Interested to know what restrictions you think there are on HP / PCP? V5 in my name, private plate on it, have sold all previous PCP cars before the end of the term and just paid off what was owedI think some people overlook that HP / PCP restricts what you can do with the car as it is not legally yours.
An unsecured loan gives you more freedom to trade it in early, modify etc; a bank loan is currently far cheaper than the c10% APR quoted for a used car...
only difficulty I can think of is that it’s a lot easier to sell the PCP car through a dealer before private buyer would be nervous it still has outstanding finance
it‘s all well and good if you can afford actual cash to buy your new car, but most people don’t have that much floating around, and many of those that do would have little left for rainy day or other spending.
I've driven all sorts Depending on my needs. A couple of years back I took on a job that would have me touring the SW for a year. Spent £800 on a diesel Vauxhall Tigra that did 60mpg, was slow, nothing special to drive but reasonably comfortable, had heated seats for winter and air-con/top-down for summer. I have an Elise (owned) for fun weekends and track days. And I’ll finance the family car so I can have at least one car I don’t have to worry about maintenance costs if it goes wrong