Hi all

We are awaiting our new arrival in November and would like to up our car size. I'm not a car expert or enthusiast by any means, I have been looking at some SUVs tiguan/mg hs/seat 19-20 plate, max 30000 miles, around 20-25k cost.

I've always been of the opinion that cash is best, eliminating interest etc. A stance that as handed down to me by my old school grandad. My missus is of a PCP persuasion. My reasoning is that if I bought a car and sold it 4 or so years later, deducted the sale price from my original purchase price and divided by the number of months owning the car then overall cash would give a lower monthly payment.

She has a background in estate agency and mortgages which we want to start our own portfolio soon. Her point is that by going into PCP we free up what might have been 25k worth of deposit that could be put into buy to let mortgages to generate a monthly income.

My middle ground for this has been a bank loan of say 20k which is only charged at 2.9% interest currently, which could pay for the car, leaving our own money available to start a property portfolio.

I'm unsure essentially and would like to see the opinion of the forum!

My wife will drive the car daily, which consists of 7 minute school run, 5 of which are on national speed limit 60mph road, and general driving to and from shops just a couple of miles, it would probably go on the motorway once a week to see relatives within 30mins, and then once or twice a year do a longer journey 3+ hours for a UK holiday/city breaks/longer away relatives etc

Welcome all advice and apologies for the long winded post!!

Many Thanks

Edited by py_6294 on 24/06/2022 at 19:30