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PCP Lease or Used car?

    • Thread Starter


    I need to get a car for work and I'm trying to decide whether to take out a PCP lease on a new VW Polo, or buy a used 2013 Honda Jazz. Not sure which makes more sense.**

    Everyone's saying to go PCP but it doesn't make sense;

    - New Polo 2016 (worth £14,000)
    - £2000 upfront deposit (non-refundable)*
    - £160/month for 48 months (£7680 total)
    - 12,000 miles/year limit.
    - *At the end of the 48 months, either give back the Polo or pay £6000 to keep it.

    Buying used;

    - 2013 Honda Jazz with 20,000 miles on the clock.
    - One payment of £5000 and the car is mine.
    - I can choose to sell the car at a later date if I wish, possibly recovering around £3000.

    Judging by this I just can't work out how PCP leasing is better value for money?*

    I think the PCP leases only make sense if you particularly want a new car and are going to upgrade it again when the lease runs out. If you've got £5k available I'd definitely go for that option.
    • Thread Starter

    That's what I'm thinking, I don't know why everybody things PCP is the way to go
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Updated: October 7, 2016
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