Quote:
Originally Posted by Red ones
Sorry. I don't get the anti PCP thing.
Would people be so keen to buy houses if their value dropped the longer you owned them. If you bought a house and 25 years later you had to pay to get rid of it would you be so willing to buy it, our party less and just rent?
Monthly outgoing on PCP is less than purchase on a loan and that's the big difference from house rental/mortgage.
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PCP is a bit of a scam really and it can get expensive if you exceed the agreed mileage or damage the car, and the people who sell cars are keen to make it as certain as possible that people will end up with no equity in the car when PCP expires and will roll over the final payment into another one of their cars, trapping customers in a loop. It makes more sense for businesses to lease their company cars as they can claim lease cost as a business expense for tax purposes and claim back VAT on car lease payments.
http://www.telegraph.co.uk/motoring/...long-term.html