Thanks all. That IS quite a few cars in a short period. Still, it’s his money…
On the subject of money, it’s amazing how spending power changes when you don’t have the thought of the cost of your next car constantly in mind. I won’t be buying any more cars for myself. Just SWMBO to keep mobile now.
It must be a horrible feeling when you spend £1000s on a car, thinking you've covered all the bases but only to find that you simply can't live with one aspect of your new purchase - I've never had that happen to me but it takes me months to find/buy a different car.
I suppose that I am lucky in that I "only" lost about £300 on the stonic, which I expained elsewhere. Cost after PCP contribution was £17170, less about £120 refund road fund duty, so £17050, less the cash sale to a dealer of £16750, Cazoo would have given me £17075, but I fell foul of the condition of not having owned the car for 3 months, Not to worry though.
Acceptable loss for 40 days motoring.
And Hands up. It was my mistake, but over with now.
Edited by _ORB_ on 14/11/2021 at 16:57
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How did you manage to come out of PCP? I thought one can't cancel PCP until half of money is repaid.
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How did you manage to come out of PCP? I thought one can't cancel PCP until half of money is repaid.
You have to withdraw from the agreement first, then ask for settlement figure.
Waited a few days after purchase, phoned up, asked fo withdraw from agreement, was given figure, paid by debit card over phone. cost, 6 days interest, £8.82.
Everyone has different terms and conditions.
If I had taken the Ssangyong one, I could regularly pay off sums from the balloon payment, but would still have to make the regular payments.
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OK, so you bought the car outright and then cancelled the PCP? Interest was during this time period then.
AFAIK, PCP can be cancelled only if you end the agreement by owning the car in full or walk away after paying at least 50%.
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OK, so you bought the car outright and then cancelled the PCP? Interest was during this time period then.
AFAIK, PCP can be cancelled only if you end the agreement by owning the car in full or walk away after paying at least 50%.
Bought the car, took the makers PCP with the deposit contribution, then a few days later asked the finance company to withdraw, which meant I had to pay the full amount of the finance ( not the actual cost of the car)
I am sure others can explain better than me...
As said before, depends on the manufacturer "incentives".
Edited by _ORB_ on 15/11/2021 at 08:16
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OK, so you bought the car outright and then cancelled the PCP? Interest was during this time period then.
AFAIK, PCP can be cancelled only if you end the agreement by owning the car in full or walk away after paying at least 50%.
Bought the car, took the makers PCP with the deposit contribution, then a few days later asked the finance company to withdraw, which meant I had to pay the full amount of the finance ( not the actual cost of the car)
I am sure others can explain better than me...
As said before, depends on the manufacturer "incentives".
There's a 14-day "cooling off" period on many financial arrangements - by cancelling the PCP and paying in full during that time the buyer retains any incentive discounts and only pays interest for the few days.
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Thanks all. That IS quite a few cars in a short period. Still, it’s his money…
On the subject of money, it’s amazing how spending power changes when you don’t have the thought of the cost of your next car constantly in mind. I won’t be buying any more cars for myself. Just SWMBO to keep mobile now.
It must be a horrible feeling when you spend £1000s on a car, thinking you've covered all the bases but only to find that you simply can't live with one aspect of your new purchase - I've never had that happen to me but it takes me months to find/buy a different car.
I suppose that I am lucky in that I "only" lost about £300 on the stonic, which I expained elsewhere. Cost after PCP contribution was £17170, less about £120 refund road fund duty, so £17050, less the cash sale to a dealer of £16750, Cazoo would have given me £17075, but I fell foul of the condition of not having owned the car for 3 months, Not to worry though.
Acceptable loss for 40 days motoring.
And Hands up. It was my mistake, but over with now.
To be fair, hiring a car for three months would cost well in excess of £300, and many PCPs cost more than that for reasonable-sized cars thesedays, so not as much a disaster as perhaps would've been the case had it happened a couple of years ago.
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“ It must be a horrible feeling when you spend £1000s on a car, thinking you've covered all the bases but only to find that you simply can't live with one aspect of your new purchase - I've never had that happen to me but it takes me months to find/buy a different car.”
My dad fell foul of it a few times in his often rushed car swaps. In 1989 he bought a new G plate Volvo 240 GLT to replace our much beloved Saab 900 Turbo 16v and my mother absolutely hated it, it was then hurriedly replaced with a new 90 G Volvo 440 Turbo.
He bought a new Mercedes C180 Classic in 1995 only to find the manual gearbox was awful and combined badly with the daft foot operated parking brake, it was again changed at much loss for a 96 N C180 Elegance auto which finally ended the regular swaps, lasting for 13yrs before meeting it’s end through the 2009 scrappage scheme.
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MG........Sportage.........Stonic.........Korando......?
ORB has had as many cars in 4yrs as I've had in over 40yrs, (TR7 and three Audis) and I've still got two of them! Still, it makes for interesting reading. Makes me wonder about houses and spouses .......;-)
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MG........Sportage.........Stonic.........Korando......?
ORB has had as many cars in 4yrs as I've had in over 40yrs, (TR7 and three Audis) and I've still got two of them! Still, it makes for interesting reading. Makes me wonder about houses and spouses .......;-)
Don't forget I was in the "trade"...
Probably about 40 cars since I started driving, but less wives, but houses......... 1 we live in, and 2 we rent out here, and swmbo has a few too back home..
Children 2, dogs 1, (excluding some cars in the "old days") ...........Oil changes plenty.
Tongues in cheek 1 only.
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............., it was again changed at much loss for a 96 N C180 Elegance auto which finally ended the regular swaps, lasting for 13yrs before meeting it’s end through the 2009 scrappage scheme.
Only 13yrs for a Merc from showroom to scrapyard? Did he live by the sea?
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............., it was again changed at much loss for a 96 N C180 Elegance auto which finally ended the regular swaps, lasting for 13yrs before meeting it’s end through the 2009 scrappage scheme.
Only 13yrs for a Merc from showroom to scrapyard? Did he live by the sea?
Scotland.. more salt in winter, but maybe not rust, maybe the "incentive"..
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“ Only 13yrs for a Merc from showroom to scrapyard? Did he live by the sea?”
Indeed he did and sadly the C Class of this vintage had the rust protection of your typical 1970’s Alfa Romeo. The Honda Jazz that replaced it as their retirement runabout is now 12yrs old and has only a few minor blisters around one rear arch. Shame though as mechanically the Merc would’ve ran forever.
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............., it was again changed at much loss for a 96 N C180 Elegance auto which finally ended the regular swaps, lasting for 13yrs before meeting it’s end through the 2009 scrappage scheme.
Only 13yrs for a Merc from showroom to scrapyard? Did he live by the sea?
Was that Merc during the 'cr@p' era when the quality plummeted?
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............., it was again changed at much loss for a 96 N C180 Elegance auto which finally ended the regular swaps, lasting for 13yrs before meeting it’s end through the 2009 scrappage scheme.
Only 13yrs for a Merc from showroom to scrapyard? Did he live by the sea?
Was that Merc during the 'cr@p' era when the quality plummeted?
I seem to recall that Mercedes bad decade was 1995-2005 although individual models weren't necessarily bad that whole decade.
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