It seems the BoE and politicians have spotted the next potential economic crisis and hopefully a sensible solution comes out of it.
I bought a car just over 2 years ago. Didn't go PCP.
Trade in old car, paid extra cash, ended up with sensible monthly payments. I did a projection for the 3 year period for the cost over that period. My route came out lowest cost, a big part being the residual value of the car remaining as MY asset.
I tend to keep cars not trading in after short periods, especially considering the very high year 1 depreciation.Hence the PCP seems more geared up to replacement at the end of term incurring longer term finance to feed.
As a private buyer this seems more sensible to me.
