UK Car Finance Basics Explained - PCP VS LOAN vs LEASE vs HP

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UK Car Finance Basics Explained - PCP VS LOAN vs LEASE vs HP
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When buying a new or used car you need to carefully consider how you want to finance the purchase and also consider is leasing a car may be a better idea for you. THis little 2021 buying a new car vlog should help you understand all the options.
PCP VS LOAN vs LEASE vs HP is a long-standing dilemma that people find themselves faced with every day.
PCP is a personal contract purchase, this means you pay a deposit, a number of monthly payments, then if you want to keep the car you pay a further balloon payment to take ownership of the car from the finance company. If you don't want to keep it you can simply hand it back at the end of the finance agreement.
HP is HIre Purchase, with this op[tion you simply pay a deposit and then make monthly payments, at the end of the agreement you own the car.
BANK LOAN has a number of advantages, 1) it's often the cheapest way to borrow the money for your purchase (just not always) 2) the finance is against you and not the car, this means you can change the car as you wish, you could even sell the car and spend your money on something else. The car is yours immediately, as is the debt. With the PCP and HP the finance company is the owner of the car until the agreement is settled giving you less flexibility.
PCH / Personal Contract Hire / LEASING is the only one where you are not guaranteed the option to buy the car at the end (although you often do get the option) - so why would you do this??? hopefully the video explained why owning a depreciating asset is not always a great idea and getting into a good leasing deal can be a very economical way of driving a new car. Should you lease vs buy a car? you decide.
PCP VS LOAN vs LEASE vs HP is an old question for which many have answers but not too many truly understand the dynamics, hopefully, this video will help you to become someone who understands car finance and helps you to make great choices when getting your next new or used car.
At the end of the video I look at a real world example of car finance on the brand new 2021 Peugeot 3008 GT - it's not a typical example at all which is why I suggest you always shop around for any kind of car finance and carefully consider all of the options before you buy or lease a car.
00:00 Intro
00:39 Basic Car Finance Options Explained
06:20 2021 Peugeot 3008 GT - Car Finance Examples
11:34 Outro
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17 май 2024

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Комментарии : 150

@DefinitelyNotAGuru 2 года назад

*Support the channel & click through to Amazon here : **amzn.to/3dLVstT*

@chriswong2012 5 дней назад

Excellent video! You're definitely a guru indeed! Thank you very much for breaking down these valuable information!

@DefinitelyNotAGuru 5 дней назад

My pleasure!

@chriswright9227 2 года назад

Being trying to get my head around this leasing lark for a while and this explained it as best as I have seen before. Thanks for that and in my mind now I have a far better grasp of it all.

@DefinitelyNotAGuru 2 года назад

Glad to be of service Sir. Lots more leasing content to come in the near future 👍

@Bzrkology Год назад

Legend. This is golden information, thanks for breaking it down !

@DefinitelyNotAGuru Год назад

My pleasure, thanks for joining in.

@kirangabri3904 Год назад

Finally you’ve cleared the murky waters , very helpful

@DefinitelyNotAGuru Год назад

Thank you!!

@ryanlebear Год назад

This video is really helpful, thanks! I've been looking at leasing, but finally decided to go for a slightly older higher spec model and buy it.

@DefinitelyNotAGuru Год назад

Glad it helped you out 👍

@diracify Год назад

Thanks for this. I was always a person with 500 quid bangers but I am swaying towards finance due to needing something more reliable. This video has really helped my understanding! cheers mate.

@DefinitelyNotAGuru Год назад

Glad it helped 👍

@simeon7255 Год назад

Best explanation I’ve seen, cheers

@DefinitelyNotAGuru Год назад

Thanks 🙏

@simonmason9294 Год назад

Beautiful content, simple, concise. Easy to understand. Instant sub

@DefinitelyNotAGuru Год назад

Thanks Simon 👍

@simonmason9294 Год назад

@@DefinitelyNotAGuru is it difficult to find used car leasing? For slightly lower monthly instalment on premium vehicles? Also what about 0% finance? If you already have videos on these subjects could I have links please. Thanks again.

@DefinitelyNotAGuru Год назад

@@simonmason9294 do a search on my channel, I’ve done used car leasing video. 0% finance can be good but not always as it’s reliant on paying full retail in the first place usually - smoke and mirrors!

@antcollins6345 2 года назад

Great explanation, many thanks.

@DefinitelyNotAGuru 2 года назад

Thanks Ant 👍

@aiuzdursa 4 месяца назад

Thank you. Very helpful ❤

@DefinitelyNotAGuru 4 месяца назад

You’re welcome 😊

@sebastianborek2474 2 года назад

Thank you "Car guru" - for me. You helped me to get my first lease on brand new Cupra Leon 300hp , the car I was after for many months.Just signed agreement today and expecting it right before Christmas. Great chanel , very helpful with lots of useful bits what to look at before you make a final decision.. big thumb up 👍

@DefinitelyNotAGuru 2 года назад

Thank you Brother 🙏

@sebastianborek2474 2 года назад

@@DefinitelyNotAGuru you have my full support and will recommend your chanel to my other friends who looking to change their wheels

@DefinitelyNotAGuru 2 года назад

@@sebastianborek2474 thanks so much, great when people spread the word!

@davidodimayo187 2 года назад

Excellent video. Thank you.

@DefinitelyNotAGuru 2 года назад

Thanks for watching 🙏

@johnroberts9212 2 года назад

I suspect that most people are initially hesitant about leasing (I certainly was) but once you manage to overcome the psychological hurdle of not owning the car, realise that a PCP is basically exactly the same and then focus in on how much cheaper a lease deal almost always is then it becomes unarguably the way to go. Nice clear and concise video Jim which will certainly help those leasing waverers to see the light! Thanks.

@DefinitelyNotAGuru 2 года назад

Thanks a lot John 👍

@happyhero1093 11 месяцев назад

I think what put people off outside of "not owning the car" is the noise made about the sting when returning the car. I dont know where people got that info from that with lease you get stung at the end when you come to return the car after checks

@gerryking4346 6 месяцев назад

That’s really helpful and clear thanks. I have a much better understanding of the options now. I’ve recently bought a ex demonstrator on a pcp and was a bit concerned about the balloon payment because I’ll be a pensioner by then. I might just decide to continue with the pcp then hand it back and use my bus pass at the end! 👍😊

@DefinitelyNotAGuru 6 месяцев назад

Cheers Jerry

@jockster5525 Год назад

Brilliant thanks for your efforts 👍.. thoroughly enjoyed the explanation

@DefinitelyNotAGuru Год назад

Thanks mate

@ph7pat 2 года назад

Good video clearing up the bs for everyone

@DefinitelyNotAGuru 2 года назад

Appreciate that Paul, thanks mate

@Pixelheist 2 года назад

You sir are a saint, thanks for explaining this clearly to a doyle like myself who couldnt get it through his thick skull! Top banana!

@DefinitelyNotAGuru 2 года назад

Thanks pal. You only know what you know once you know it mate 👍

@alastairc2373 2 года назад

The way the hybrid / battery tech is on the fastest growth defo lease only so you can swap to a newer car tech every 3 years unless you buy a 4 year old at almost 60% of SP.Goid simple explanation 👌

@DefinitelyNotAGuru 2 года назад

Thanks bud 👍

@garyc7340 2 года назад

Excellent video.

@DefinitelyNotAGuru 2 года назад

Thanks Gary 👍

@AgentGreyFox Год назад

I've always gotten a low interest loan over 5 years. Then own the asset and trade it in. Always found this cheaper. Great video. Very insightful.

@DefinitelyNotAGuru Год назад

👌

@Tom_Roberts 2 года назад

Great . Thanks !

@DefinitelyNotAGuru 2 года назад

Thanks for watching

@seanelvin4567 2 года назад

Great video

@DefinitelyNotAGuru 2 года назад

Thanks buddy 👍

@iantampkins3267 2 года назад

Hello mate just subscribed and loving the content. Do you still have to insure, tax etc when you lease a car, thanks 👍

@DefinitelyNotAGuru 2 года назад

Thanks Ian. You don’t have to tax it but you do have to insure it. If you have it longer than 3 years you also have to MOT it 👍

@iantampkins3267 2 года назад

@@DefinitelyNotAGuru lovely thanks mate 👍

@DefinitelyNotAGuru 2 года назад

No worries 👍

@Leonfr_2022 2 года назад

Ordered my 3rd Lease car after previously doing pcps but ended up just handing them back or using for deposits! Leasing is the way forward, avoid the deprecation!!

@DefinitelyNotAGuru 2 года назад

Thanks for commenting Chris 👍

@CoLivingCreators Год назад

I would be really interested in a comparison of the options at the end of your lease period if you can’t go straight onto your next lease. Given the current wait times (I’ve been waiting over 12 months) on new leases it would be good to know the best option whether to extend the lease and wait for the new lease to arrive or buy the car and perhaps sell when the new car arrives.

@DefinitelyNotAGuru Год назад

I’ve done videos on that already

@JK-jm6kd 11 месяцев назад

Thank you

@DefinitelyNotAGuru 11 месяцев назад

You're welcome

@Dentos19 4 месяца назад

Hi Jim what about doing a comparison on personal contract hire on new and up to three year old cars there’s some great deal on used and you could get the car you want to suit your budget

@DefinitelyNotAGuru 4 месяца назад

I really haven’t seen any used car leases that make sense but enlighten me if you have. One of the great things about a lease is not needing an MOT and having a car under full warranty. Give me a used example at great price by all means.

@Privateersman1 Год назад

Many thanks for this video. Amazing! We have just signed a 3-year lease on a high-spec Audi A4 which was £170 per month less than a mid-spec Volvo XC60. It gets better: I think we will get about 17k for our Disco Sport selling privately which will - more or less - pay for the total lease cost for the Audi A4. Thanks enormously!

@DefinitelyNotAGuru Год назад

Awesome. Thanks Martin 👍

@sanch3z Год назад

What website did you use?

@Smile342 Год назад

My car was on a PCP contract. After two year being on the pcp contract I decided to apply for a loan (cash) and bought a car from dealer. Number one the car is yours and it is much better to have own balloon payment. It is very imported to look after the car (service, service book,etc).When you look after you car your car looks after you I mean you can sell it for the good price in future.

@DefinitelyNotAGuru Год назад

👍

@crustynuggets1 Год назад

We're waiting for our leased Kia Proceed to be imminently delivered. As we're not hung up on owning our main family car and are planning to hand it back and continue with a new deal, it certainly made the most sense for us.

@DefinitelyNotAGuru Год назад

Good choice, Kia are producing some great cars nowadays

@crustynuggets1 Год назад

@@DefinitelyNotAGuru They certainly are. We went for a four year lease as it bought the monthly payment down and enabled us to go for a higher spec, and the fact it's backed up by a seven year warranty sealed the deal for us.

@Dentos19 4 месяца назад

Hi Jim used Citroen c3 pure tech feel 3 up front10 k per annum non maintained through Arval at £126 per month 2029 plate 24000 miles is one example I used to be in the trade for over 40 years love your Chanel👍🥰

@DefinitelyNotAGuru 4 месяца назад

Thank you! I’m not convinced that it’s a good deal to be honest mate. 4 year old car without manufacturer warranty, MOTs etc. you could probably get a brand new one (or better car) on a lease for £100 more per month. I’d be far more inclined to buy the 2019 car than lease it.

@h.bsfaithfulservant4136 2 года назад

Another excellent job Jim 👍. You forgot to mention the deal you got with your leased VW…which was a gud’n from my recollection. I’ve been looking at a pcp on a Dacia Duster. £13,500 car over 4 years, with final balloon payment of £6,500… which is more than the car would be worth at that point. Cost of finance is £2,000 over those 4 years… but you could be suckered in by them telling you it’s 0% apr. Crafty buggers. Leasing an in stock one is about £344 per month over 2 years, but Hyundai Tucson is only £307. Just doing some research… but I’m glad I watch some bloke called Jim for tips 🤓🤩

@DefinitelyNotAGuru 2 года назад

Haha thanks. That PCP on the duster sounds really naff. Drop me an email if you need any assistance with anything, special service for my crew 👍👍👍

@h.bsfaithfulservant4136 2 года назад

@@DefinitelyNotAGuru Lol. Thanks boss 😁. That’s a kind gesture. 🙏👏

@DefinitelyNotAGuru 2 года назад

@@h.bsfaithfulservant4136 I’m an all-around pretty fantastic person actually, I just don’t like to talk about it 😁

@h.bsfaithfulservant4136 2 года назад

@@DefinitelyNotAGuru 😇😉

@freeloaderfs Год назад

Forgive me if I’m being dumb can you do a video on leasing vs car subscriptions like onto Elmo drive and drive fuze please

@DefinitelyNotAGuru Год назад

I think I may have done in the past but will be doing a new one very soon. 👍👍🙏

@sayed978 2 года назад

Great video👌 Do you know when financing a used car through a dealer, who actually owns the car ie dose the dealer owns the car and you’re paying interest to the dealer or you’re financing the car from a bank and paying interest to the bank?

@DefinitelyNotAGuru 2 года назад

I don’t know of any dealers providing finance themselves, it’s generally a subsidiary finance company or a third party provider. Whoever you have the finance agreement with owns the car until the agreement is settled

@sayed978 2 года назад

Even on used cars? What about main dealers i thought because they part exchange or buy the car from the first owner then they technically own the car.

@DefinitelyNotAGuru 2 года назад

@@sayed978 if you buy a car for cash the. Sure but if you take finance the finance company is funding it - they own the car until your debt is settled. They pay the car dealer. Anyone actually providing finance (rather than just selling finance) has a ton of regulatory requirement to handle so finance is generally provided by finance companies or banks etc, car dealers just sell it.

@sayed978 2 года назад

@@DefinitelyNotAGuru that’s helpful thanks alot appreciate your reply

@DefinitelyNotAGuru 2 года назад

@@sayed978 happy to help Sayed, thanks for watching 👍

@trzarector Год назад

Hi, Just wanted to get your opinion on buying cars that I wish to rent out. Is a bank loan the only route or can I use another method of finance. HP, lease? If you could help that'd be great!

@DefinitelyNotAGuru Год назад

You’d need commercial finance for that

@alasdairb8154 2 года назад

could you do a similar video comparing how the deals play out for higher mileages like 20,000 miles a year? does the same rationale still apply or does pcp offer better value then?

@DefinitelyNotAGuru 2 года назад

Will do at some stage. A win for PCP is exceptionally rare.

@mudskipper0075 2 года назад

Everyone to their own but leasing/PCP is essentially just hiring long term,if that suits the individual fine but it’s another monthly bill that lasts forever unless you get off the deal ,it’s only a new car for a day also ,I like the flexibility of changing cars whenever I see something else that I fancy ,very well explained video though…👍just had this conversation with my sister in law that has always done PCP deals on executive models ,she has paid almost £33k in car payments but still doesn’t own a car….😳

@DefinitelyNotAGuru 2 года назад

I agree 100%, there are rare occasions where it works out and for people exiting a PCP right now it’s been good as used prices have had this false high but generally I’m not a circumstances I’m not a fan of PCP at all. The worst thing about PCP (aside from the fact it’s often more expensive than a lease over the initial term) is that the dealer has you in the palm of their hand and will offer deal after deal to keep you in it - I think of it as the Stockholm syndrome of car finance. It’s not like this 100% of the time, just >99% IMHO.

@mudskipper0075 2 года назад

@@DefinitelyNotAGuru PCP has been great for the dealers also ,not just on new stock but a never ending supply of cars coming to the end of their deals and the cycle starts again ,I know the used market is nuts at the moment but it will bottom out sooner than later ,I just sold my E class to one of those car buying sites after putting in the details as a bit of a laugh months ago ,they were in constant touch offering better and better prices so I bit the bullet before they disappear…🤣🤣 ,I don’t mind driving older stuff that’s been well maintained,there is still some great value cars out there if you do the leg work….👍

@DefinitelyNotAGuru 2 года назад

Definitely 👍

@Smile342 Год назад

The best option is pcp for a while then it's much better to apply for a loan (cash) from a Bank and make own payment balloon. Don't forget to keep a car in a good condition ( full service, interim service, service book, etc), because you can sell your car for the good price

@bobbrightwell7256 3 месяца назад

Thanks for this, I had not considered leasing before but with cars now so much more expensive, it makes a lot of sense to hire cost effectively from monthly income. I do have a few questions: 1) as you don’t mention it, am I right in assuming that you can only lease a new car? I know you can pcp some used cars and if it was much cheaper I would be happy to lease say a used (normally reliable) brand like Toyota from say 2nd to fifth year of age as they come with five year warranty. 2) Do you have any say on things like the colour of car provided? I am not too fussed on this, but would not want to find they had delivered a vehicle in Barbie pink! 3) When replacing your leased car is there any flexibility on end date? Eg if you have a two year lease but your new car is not going to be available in time, can you extend lease for another month to fill the gap? 4) In one of your videos you mention that a three year term is the most popular - is this also normally the cheapest? Looking at Leaseloco a lot of the two year deals have lower monthly payments. Thanks in advance for any answers

@DefinitelyNotAGuru 3 месяца назад

Hi, I’ve covered these points in a lot of my videos, just have a look through the back catalogue and on on my website.

@iniester6724 Год назад

Great video but this example is based off of a brand new car with lots of depreciation to account for. How would it differ for a used car on pcp vs HP vs bank loan? I assume no lease here since they’re for new cars.

@DefinitelyNotAGuru Год назад

I’ve done other videos on that

@alastairwestland2193 3 месяца назад

Given the large devaluation of cars, especially EVs, can you do a video explaining what happens at the end of PCP if you think the car is worth less than the bubble payment please?

@DefinitelyNotAGuru 3 месяца назад

There's not a video in it really - You hand the car back and lose everything you put into it. A PCP is juist a lease unless you pay the balloon, and it's often not the cheapest way to lease. I have a deep dislike for PCP.

@crimsonbride Год назад

Thanks so much for the video but I don't understand where the 10k left over is coming from?

@DefinitelyNotAGuru Год назад

Ok, maybe watch again

@shinyrayasmr 9 месяцев назад

For example with HP, if I must pay for 4 years 200£ a month, is that 200£ stay like that, is not changing? to be higher? is it fixed for the full 4 years?

@DefinitelyNotAGuru 9 месяцев назад

Yes, it’s fixed at the start of the agreement

@kazimayub Год назад

Can you suggest if going for a 3 year old car what is the best option?

@DefinitelyNotAGuru Год назад

It all depends if the price and deal mate, try and follow a similar path to what I did in this video to work it out.

@rupdog6464 2 года назад

what about leasing a nearly new car? is that possible. i havent seen them on leaae loco

@DefinitelyNotAGuru 2 года назад

I've seen such a thing in the past and they do exist but are usually a fair bit more expensive than a new one.

@boraxadamlondon 2 года назад

Hi Which website you use for Hire Purchase so I can filter 7 seater. Please. Thanks

@DefinitelyNotAGuru 2 года назад

AutoTrader is a good place to search for a car. You can shop around for your hire purchase, all the usual financial services providers and comparison sites are worth a look, money supermarket etc.

@boraxadamlondon 2 года назад

@@DefinitelyNotAGuru thanks

@daylee0855 2 года назад

So if I was buying, say a 69 reg car (as of this comment it’s March 22) what would be the best option? Ford Fiesta ST line £14,500.

@DefinitelyNotAGuru 2 года назад

This recent video will help you do the maths ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-X45sf_me32k.html

@railvlogger1439 2 года назад

I wish you would've put out this video a few months ago. I bought a Toyota C-HR last August on a 0% interest PCP deal over 3 years with the full intention of handing it back at the end of the term and starting all over again with a new car. Now I want to lease a Tesla Model 3 however I will lose too much on my car. I'm thinking of keeping my car for 6 months. I will keep the mileage low hoping it doesn't depreciate too much in that time. I am prepared to take a hit on it. I would really love to get a Tesla. If I had have known that leasing was an option I would never have gone down the PCP road.* footnote. My car has just under 700 miles on it. If I can keep it below 2000 in 6 months time I don't expect it will depreciate too much seeing that all new ones are factory orders only.

@DefinitelyNotAGuru 2 года назад

Have you asked about handing it back or checked the used value on WeBuyAnyCar? you may be able to get out of it as used car prices have skyrocketed recently. You may have a chance of getting out of it. I've done a lot of videos like this previously by the way - they just haven't been seen by all that many people!

@railvlogger1439 2 года назад

@@DefinitelyNotAGuru I edited my comment above. Have a look and give me your opinion. I'll buy you a coffee.

@DefinitelyNotAGuru 2 года назад

@@railvlogger1439 I guess the Tesla will be a factory order too mate which could take forever to arrive. 1) speak to the finance company about your exit options (how much it will cost you to exit the agreement, or to buy out the car), 2) get a used car valuation from Motorway & WeBuyAnyCar and see if it's worth buying the finance deal out or exiting the finance deal.

@railvlogger1439 2 года назад

@@DefinitelyNotAGuru Your coffee is ready. Just one question. Are you or have you been involved with the motor trade?

@DefinitelyNotAGuru 2 года назад

@@railvlogger1439 no

@mrludders4712 2 года назад

This is a very informative video thanks for that but it may have been worth you highlighting for those who are new to car financing the difference between the deals in terms of early termination. It is my understanding that although Leasing is cheaper than pcp and hp you are not covered under the consumer credit act of 1974 if you are wishing to return the car early. for instance if you became unemployed like many in the pandemic then with leasing you would be heavily penalised and charged 50% of the remaining payments in one lump sum if you could no longer afford the car. With pcp and hp you are covered by the consumer act meaning as long as you have paid 50% of your payments you can legally return the car at no cost and the provider can not stop you. For some people this can be a factor for that peace of mind and perhaps is often over looked. As the pandemic proved uncertainty is the only thing that is certain in life.

@DefinitelyNotAGuru 2 года назад

Yes, I’ve covered it in other videos but could have mentioned it again I guess. 👍

@rupdog6464 2 года назад

Do manufacturers do lease deals?

@DefinitelyNotAGuru 2 года назад

main dealers do quite often, What Car leasing site is the place to go for them.

@notaphish Год назад

When you're talking about the 5k difference between the lease value and pcp value... I feel like the possible upsides of the cash your getting back if your car is worth more than expected when its returned was kind of glossed over. I think its the value of the car if you do all the miles in the PCP contract, like 24k miles @8k a year for 3 years. If you do less than that you'll have more money to put into the next pcp deal so it could end up making it closer to parity with the lease ( especially if the dealer is willing to contribute to the deposit as you mentioned ). Lots of assumptions there though, market, dealerships etc... Tbh taking out a pcp these days with the interest rates they're charging now is a horrifying thought

@DefinitelyNotAGuru Год назад

Each to their own mate. Thanks for watching and joining in 👍👍👍

@notaphish Год назад

@@DefinitelyNotAGuru do you know if going through sites like Leaseloco, can you spec up the car you want or do you get whatever specs they have/order in?

@DefinitelyNotAGuru Год назад

@@notaphish hi, yes, just click on “make an enquiry, tell them the spec you want and they’ll give you a price based on the exact spec.

@chrisbrooker3549 2 года назад

Is there anywhere decent to Lease nearly new cars? Leasing a car which just came off a lease, like 2/3 years old?

@DefinitelyNotAGuru 2 года назад

Not that I know of mate, that tends to be when they go into the auctions and then into the motor traders

@chrisbrooker3549 2 года назад

@@DefinitelyNotAGuru ah I see, had a look online and couldn't find any decent websites. Might have to look into auctions . Thanks mate

@DefinitelyNotAGuru 2 года назад

@@chrisbrooker3549 most lease cars go through BCA auctions (BCA also owns webuyanycar and Cinch)

@PBayee34 Год назад

you're a double for Phil Taylor 🤣

@DefinitelyNotAGuru Год назад

Thanks for that 😢

@robholmes9202 11 дней назад

What is the best option if I want to hand the car back and use the value left on it as a deposit on a new car and start another 3 year plan?

@DefinitelyNotAGuru 11 дней назад

pay more for it in the first place (i.e. do a PCP) - very general as of course every deal is different. I would suggest considering a lease and just outting a few extra quid away every month. Or do a no deposit lease each time.

@robholmes9202 11 дней назад

@@DefinitelyNotAGuru we are looking at Tesla and have a £20,000 deposit we can put down. We want the car to be doing the hard work so when we take it back it keeps giving us a nice deposit amount each time to start up another finance agreement rather than us having to keep trying to stump up a deposit amount.

@DefinitelyNotAGuru 11 дней назад

I’d keep my cash in the bank and lease the car, you’ll almost certainly be significantly better off.

@essexandy189 Год назад

So if the value went down £10,000 after 3 years it would still be valued at £24,000 so if you give it back won’t they owe you £7,000 as that’s the difference between the value off the car and what the ballon payment is or use the £7000 for another finance deal

@DefinitelyNotAGuru Год назад

If you give the car back without paying the balloon payment then you get nothing. You might be able to get something towards deposit on another one but don't expect the full £7k. Even if you diod get the full £7k you're still worse off than if you'd leased it with this example. Always worth running the numbers through on all options when you're deciding what to do on a car.

@essexandy189 Год назад

@@DefinitelyNotAGuru ok thanks it was just that i watched another video on RU-vid and the example he gave was better for pcp on a Tesla model 3 obviously though could only guess at the deprecation price after 3 years

@DefinitelyNotAGuru Год назад

@@essexandy189 That's it mate, so much depends on the depreciation and the lease deal. You have to try and second guess what's happening, on a Tesla 3 in the last 3 years you'd have done pretty well on a PCP but I bet you won't over the next 3 years. The point of these videos for me is showing you how I calculate it roughly so you can try and make a more informed decision as the car dealers will always tend to push you into one direction, and it's one that usually suits them the best. The price of a new model 3 has gone up about 20% this year by the way.

@essexandy189 Год назад

@@DefinitelyNotAGuru 20% wow then again no surprise as everything is going up anyway Love the videos keep the good work up

@DefinitelyNotAGuru Год назад

@@essexandy189 Thanks for watching mate

@Dentos19 4 месяца назад

£100 per months a lot if your on a tight budget

@DefinitelyNotAGuru 4 месяца назад

I’m saying you’d be better off buying a used car of that age mate and not leasing it as you’re losing out on several of the main pros for leasing.