Hi all,
I'm need to buy a car...not a "brand new" car but a reliable daily!
I've looked around a few dealers and there seems to be a few options including PCP, Hire Purchase or buy outright.
I think I'll try to get a loan and then buy outright, but has anyone had any good deals with hire purchase or PCP? Some schemes tend to focus on low monthly repayments but I'm wary of how much of the loan I'd be paying off?
In other schemes, where you can swap it for a newer model after two years (such as in PCP if I understand it correctly), has anyone had any issues? In such a scheme, I assume you are responsible to get cars repaired? Whereas if you own a car you could leave a repair and get it done "another day".
My gut reaction is to try to get a loan from a financial institution and pay that back over time.
Cheers!