Poss PCP newbie..

[BigJase88]

Just a quickie on the servicing of a car on PCP; if the car service schedule is at 1-year intervals and you intend to hand the car back/change at the end of the 3-tear term are you obliged to pay for the third year service and then hand the car straight back?

Probably yes

Also when replacing tyres you may not fit linglong dingdong chinese junk. They must be premium tyres.

Thats what my PCP had in it's T&C's too

 

[sgregory124]

Probably yes

Also when replacing tyres you may not fit linglong dingdong chinese junk. They must be premium tyres.

Thats what my PCP had in it's T&C's too

Interesting, when both my Audis went back all they cared about was the tyres had some tread on them.

 

[BigJase88]

Interesting, when both my Audis went back all they cared about was the tyres had some tread on them.

Depends who supplied the car i guess.

For my own safety it wasn't as issue to me as i only fit premium tyres anyways.

 

[sgregory124]

Depends who supplied the car i guess.

For my own safety it wasn't as issue to me as i only fit premium tyres anyways.

True. When my A6 went back I got talking to the BCA pickup driver and he showed me the iPad with the questionnaire they have to fill in, crazy minor things on there like if your spare keys don’t work (as mine didn’t because of a flat battery) they will bill you.

 

[JoolsB]

Just a quickie on the servicing of a car on PCP; if the car service schedule is at 1-year intervals and you intend to hand the car back/change at the end of the 3-tear term are you obliged to pay for the third year service and then hand the car straight back?

I would imagine so, when I had my Volvo i had to get it MOT’d before it went back or they would have done it and recharged me at their rates - also beware of them trying to stitch you up for small bits of wear and tear. Not sure I’d ever lease a car again after that experience - they tried to charge me a grand for a couple of tiny marks and recovery (as by then it required an MOT and they assumed I hadn’t had it done). All this after it took me nearly 6 weeks to get them to take the car back. Fortunately a friendly dealer intervened and I only ended up paying a few quid for some excess miles.

 

[FinanceGuy]

Hi there!

A PCPs guaranteed future value is there to protect you should the car be worth less at the end of the agreement. However finance companies wouldn't be around for long if they thought they were wrong. Therefore typically the Finance company will under value the gauranteed future value (Balloon Payment) to covert them selves.

I remember working for a group in the financial crash of 2008 where on the news there were field of 4x4s that no one wanted. Customers at this time in a PCP were laughing as they handed back their 4.4 Range Rovers with a 30k GFV where most dealers wouldn't want to touch it or be bidding very low! - This is an example where PCP works well.

In terms of interest rates i will be more than happy to help assist you in the best route forward if you wanted to direct message me with what you have been offered.

In answer to your question to servicing - There is usually a requirement on a PCP to ensure the vehicle has a full service history - this applies in the situation where you may hand the vehicle back to the finance company.

Any other questions please let me know!