Quote:
Originally Posted by MackyDobbo_Dobster_D'BO
I'm my experience PCP works with very small deposits and a view that you'll hand the car back. Even with deposits of 10-15% in the past, it has always been in a negative equity position full or 3/4 term point.
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Here we go yet again. The GFV is fixed. The balance is made up of monthlies and and a deposit. It doesn't matter if you pay a small deposit or a large one (other than increase or reduce the monthlies accordingly) the same balance has to be paid.
If the finance guys have their sums right, the car will always be worth less than you owe until near enough the final month so you pay all the interest and if you default, they can recover costs.