Buying a car on PCP - why are the fees from brokers so high? | Ask Honest John

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Buying a car on PCP - why are the fees from brokers so high?

I'm looking at buying a new BMW 1 Series on PCP and interested in brokers as the prices are a lot cheaper. They are charging anywhere from £199 to £395 in fees. Is that right? It doesn't seem bad if they can get good prices, but shouldn't the dealer pay this? I've been looking at at Varissa and Autoaid.

Asked on 23 December 2016 by Richard Aylott

Answered by Honest John

We only recommend drivethedeal, carfile, carwow and coast2coastcars - the latter does BMWs. Do not ever buy a car that will not immediately be registered to you. If it's registered to someone else such as a fleet for 3 - 6 months it isn't your car. Any ANPR tickets automatically go to the registered keeper, not to you, and unless you declare that the car is not owned by you there are insurance implications. Obviously any fee a broker charges has to be subtracted from the discount they get you in order to properly compare prices. All that is relevant is the total price you end up paying.

Tags: buying pcp brokers

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