We’ve used savings to pay off the car loan so we can reduce the amount we draw off our pension pot and cash in fewer units. Just got to ride this shit out.
I reckon dealers will be faced with a lot of cars being returned at the end of the agreements with customers simply walking away.
It’s going to play havoc with both new and used car markets.
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Retention deals might be tasty.
Please elucidate, I don’t know much about PCP it wasn’t really avaiable the last time I had a company car (about 20 years ago) and I have owned cars outright since then.
There are going to be some mega deals when things pick up.
The way they make money is for customers to “roll over” their PCP, i.e. the customer of Company A hands the car back as deposit on another car from A. They make money on the trade in and the contract…
0% finance deals, high Manufacturer contribution values will be rife.
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So does that mean really good deals for people rolling over PCP contracts or does it mean good deals on 2-3 year old s/h cars?
Win - Win.
The more roll overs = more lowish mileage cars on the market. Margins will be squeezed, so deals will be good for buyers. When money is tight, deals are better.
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Both
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