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Personal Contract Purchase: end early? Start anew?

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Flyyte View Drop Down

Joined: 25 Jul 2015
Location: UK
Status: Offline
Points: 49
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    Posted: 24 Sep 2017 at 3:32pm
Time flies. Our lovely Nissan QQ Ascenta petrol auto is now more than 2 years old. In fact: come the end of July next year, and our PCP contract will be at an end.

It's the first one we've ever had and it's been fine for us because we did a 50/50 deal -- that is: we funded half the purchase price through an exaggerated PX plus cash, and t'other half through Nissan Finance. The dealership wanted us to ease back on our commitment, which was truly humane of it, and had nothing whatsoever to do with the amount of commission to be pocketed from PCPs where customer debt is manifestly higher. (Mercedes Benz took the prize for kindness-to-others; its dealership was vigorous in its discouragement of any meaningful contribution from us, wanting us merely to be as in debt as possible to its finance company. How nice.)

We're very happy with our QQ and our dealership's service. We're aware of all the options that await us next July but unaware of options that may be open now. Like: paying off the outstanding balance now, using a bank loan whose fixed rate is as cheap now as it'll ever be and which won't be around in the near future when the BoE finally gets off its arse and hikes interest rates.

Which. It. Will.

We're therefore wondering what, if any, others on here have experienced by way of early PCP redemption. Folks who're very happy with what they have and are not about to rush into the arms of the finance company -- because it's all about finance companies, not about motor cars -- at the end of a PCP term by signing up to yet another.  Info appreciated: thanks. 

(Point of information: we're looking to keep our QQ for 5 years, taking out warranty insurance for 2 years and stinging our friendly dealership for a service deal or else we'll use a non-franchised garage. We'd then ultimately come back into the market with a 5-year-old QQ in exchange plus cash for a 2 year old vehicle -- or three, if Toyota, or Hyundai, or Kia.)
Qashqai Ascenta Premium 1.2 automatic 23/7/2015
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Abh29 View Drop Down

Joined: 28 Sep 2012
Location: North Wales
Status: Offline
Points: 302
Post Options Post Options   Thanks (0) Thanks(0)   Quote Abh29 Quote  Post ReplyReply Direct Link To This Post Posted: 24 Sep 2017 at 5:41pm
With regard to the servicing,I have recently been looking at this with a couple of our cars.
Nissan, if you have the service carried out by a dealer,the car is covered with the RAC for the following 12 month.If you take this into account the service cost is very reasonable, we also had the front brakes renewed again on a Nissan fixed price,while it would have been cheaper at the indi not enough to concern me.
BMW now over 3 years old ,it comes under BMW value service deals. This means the service with all filters changed ,including micro filters,costs £158 (or (£135 without micro filters) cheaper than Nissan but no roadside assistant. The roadside assistance is provided in the extended warrantee.

So I would advise staying with dealer service as the difference is minimal on Routine work. But it seems the dealers are a lot more expensive on the other works.
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