boyfrom64
Established Member
- Joined
- Mar 3, 2026
- Messages
- 92
- Reaction score
- 154
- Points
- 51
- Location (town/city + country)
- Austrey, UK
- Driving
- MG4 EV (2026+)
My wife and I have financed the last four cars we have purchased on PCP deals. Three of the cars have been VAG cars - 2 VW's and 1 Audi, with the fourth being the current PCP we have for the MG4.
With the first two deals, we went down the route of PCP because of incentives being given by the manufacturer and dealers to buy on PCP. However, after paying three monthly payments, we settled the fiance and took out loans so that when they finished we owned the cars outright.
Unfortunately we were not in the same position on the third PCP, which is for a VW T-Roc that is just coming towards the third year anniversary of a four year deal. However, it looks like at best we will break even with the value of the car and the outstanding balloon payment at the end of the finance deal, and there is a good probability that the value of the car may even be less than the outstanding balloon payment, when we come to settle the outstanding finance, which is not what we had hoped for.
With this experience in mind, added to some comments I have read on this forum and the discounts I seen online against new cars, we are expecting to be in a negative position on the value of the MG4 against the outstanding balloon payment. However, the difference between the MG4 and the T-Roc, is that we will keep the MG, whereas we do not want to keep the T-Roc.
As for the next few years, we still need to have two cars, and being that we want them both to be EV's, this has got me thinking about what is the best way to finance the second car.
Ideally, I would buy secondhand and buy the car outright. However, ideally I should like the second car to be a small EV, but as the manufacturers are only really launching small EV's right now, I do not see that buying a secondhand car outright as an option. Which then leaves PCP; not my first choice, but still an option, or leasing, hence the title of this post, as I am interested to see how you guys finance your cars?
If you lease, what are your experiences and any recommendations on which companies to go with.
If there is / are alternative options it would be good to know what they may be too.
Oh and one last thing, at some point in the future, possibly 4 - 5 years time, when my wife and I are both retired, then we will look to go down to just one car, which then starts another whole debate on what to buy, but by then I'm sure EV's will have evolved enormously.
With the first two deals, we went down the route of PCP because of incentives being given by the manufacturer and dealers to buy on PCP. However, after paying three monthly payments, we settled the fiance and took out loans so that when they finished we owned the cars outright.
Unfortunately we were not in the same position on the third PCP, which is for a VW T-Roc that is just coming towards the third year anniversary of a four year deal. However, it looks like at best we will break even with the value of the car and the outstanding balloon payment at the end of the finance deal, and there is a good probability that the value of the car may even be less than the outstanding balloon payment, when we come to settle the outstanding finance, which is not what we had hoped for.
With this experience in mind, added to some comments I have read on this forum and the discounts I seen online against new cars, we are expecting to be in a negative position on the value of the MG4 against the outstanding balloon payment. However, the difference between the MG4 and the T-Roc, is that we will keep the MG, whereas we do not want to keep the T-Roc.
As for the next few years, we still need to have two cars, and being that we want them both to be EV's, this has got me thinking about what is the best way to finance the second car.
Ideally, I would buy secondhand and buy the car outright. However, ideally I should like the second car to be a small EV, but as the manufacturers are only really launching small EV's right now, I do not see that buying a secondhand car outright as an option. Which then leaves PCP; not my first choice, but still an option, or leasing, hence the title of this post, as I am interested to see how you guys finance your cars?
If you lease, what are your experiences and any recommendations on which companies to go with.
If there is / are alternative options it would be good to know what they may be too.
Oh and one last thing, at some point in the future, possibly 4 - 5 years time, when my wife and I are both retired, then we will look to go down to just one car, which then starts another whole debate on what to buy, but by then I'm sure EV's will have evolved enormously.
