Should I pay a higher deposit on a PCP to reduce my monthly payments?

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Should I pay a higher deposit on a PCP to reduce my monthly payments?

On a PCP, if I pay a higher deposit it reduces the monthly payments, I think. When is it a good idea to pay the higher deposit on a PCP?

Asked on 3 July 2010 by Angela1996

Answered by Honest John

If you have money sitting doing nothing, then better to use it for a higher deposit than leave it in the bank where it is earning almost zero per cent interest.

Tags: pcp finance

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