Pcp

[whiskeryron]

Is it possible to arrange A PCP of around £ 60 pm over a period of 5 years with no deposit to purchase or hire a small vehicle ?

[Hopkirk]

How about getting a loan, and just buying a car outright?

[whiskeryron]

Cheers hoppy

[gingejbee]

The PCPs I've seen are over only three years....and usually start at £99pcm....so, no, I think it's a non-starter (no pun etc.!)

[Hopkirk]

You also get restrictions on mileage and other conditions that you have to follow.

[Gizmonster]

£60 per month for 5 years only gives a total repayment of £3600 and that's without taking interest into consideration; so in order to get a PCP, you'll be looking at paying a much larger deposit than normal, or the value of the car available will be very low - severely limiting what car you can get.

PCP's explained here:

https://www.moneysavingexpert.com/car-finance/personal-contract-purchase