PCP or HP

[Sponge]

Pesky time limit on edits.

I'm trying to compare the Toyota finance with a straight personal loan. My last two cars have been financed that way. My bank has an online quote facility and spits out these numbers:

£9000 over 48 months

TOTAL amount you pay each month £ 230.14

TOTAL amount payable £ 11,046.72

APR 10.9%

I was thinking a suitable comparison, working on 2+2 years, as I'd probably have to refinance the GFV at the end of Toyota's finance.

But I'm still not sure how the two packages compare, i.e. should I be looking at the APRs, or the total repaid?

Just to add to the mix - if I were offered a post this month, I would be able to use the scrappage scheme and off-load my Land Rover. This is Toyota's scrappage finance:

9.9% APR TypicalAYGO 1.0 VVT-i 3dr
Monthly payments 35 x £123
Term (months) 36
Cash Price £6,008.00
Deposit £0.00
Amount of Credit £6,008.00
GFV / Optional Final Payment £3,001.00
Total Amount Payable £7,306.00
APR 9.9%
Excess mileage fee 7p (pence per mile) (I'm trying to find out what the limit is.)

[sidicks]

Comparing a PCP and a standard loan:
- The lower APR the lower the effective cost of finance
- However, due to the back-ended nature of PCPs, even if the APRs are identical, the PCP might show a higher total charge for credit in £ terms.

Sidicks

[330dcoupe]

I thought I'd come back on this thread and post a bit about the GTi's replacement.

There's a few here that think the difference in the GTi and 330d's fuel consumption is negligible. To get to Swindon from here was 300 miles. I put £40 of petrol in to top it up (tank was probably holding about £50 worth) and trip computer was showing an average MPG of 39.8mpg and 30miles left for refuel, once I had reached my destination. In the 330d, it the trip computer was showing only 20 miles left, when I picked it up. As an experiment, I put £20 of diesel in, to see how far I would get. I reached 270 miles (about Hartlepool) and averaging 52 MPG (not bad for a 6 cylinder 231bhp engine).... before I chickened it. The trip computer was still showing 30 miles remaining - and I would have easily have got home..but didn't chance it. On top of that 30 miles, I added an extra tenner - I commuted to and forth work today, via a stop in town - total of 60miles.

I will look forward to spending all that money i'll be saving per week/month on something completely useless

Just a note about the car - I love the look of it. It's a saloon M-Sport in Black. I loved the seats and space in the GTi - The seats in the 3 series are very awkward to get in place and the lack of space around you will take a bit of getting used to.

[Merlot]

If they are M Sport seats in the 3 series then I agree. They are quite narrow too.

[gizze]

Now I find the M-Sport seats in the 1 series and 3 series (they are the same) the best seats I have had on any car.
There is just so much adjustment on them.

You do need to be aware there is a button on the front that relaxes the blosters, pumped right up they are pretty narrow.

[theduisbergkid]

IIRC the 330d has 204 bhp, the petrol has 231 bhp Still, some amazing MPG figures there.

I have the M-Sport seats and think they're v comfy, almost as good as Volvo stuff, although I'm a scrawny size, the backs are a bit narrow for big 'uns.

[330dcoupe]

IIRC the 330d has 204 bhp, the petrol has 231 bhp Still, some amazing MPG figures there.

I have the M-Sport seats and think they're v comfy, almost as good as Volvo stuff, although I'm a scrawny size, the backs are a bit narrow for big 'uns.

The 2004-2005 (pre e90 release) were 2004 bhp - the e90 comes with 231 bhp. The same Petrol version has 250bhp. The current 2009 version has 245bhp.

To make sure it wasn't a fluke - I've just done 235miles on £20 and still have 40 miles remaining on the clock. A little less than the Swindon trip..but this involved driving in birmingham city centre...and we all know how stop start that can be.

[Mac]

I'll have the 2004BHP one please

[theduisbergkid]

Sorry, I thought we were talking E46 not E90, gotcha

2004 BHP sounds good !

[Merlot]

Now I find the M-Sport seats in the 1 series and 3 series (they are the same) the best seats I have had on any car.
There is just so much adjustment on them.

You do need to be aware there is a button on the front that relaxes the blosters, pumped right up they are pretty narrow.

You must be a bit narrower than me then. Its horses for courses and pretty easy to check. That said I ordered my E92 M3 before then came out and got one of the first. Seat backs were just too narrow for me even on the widest setting. Hence the reason I ended up in a DMS 535d M Sport - nice wide seats!

Ditto for 997/987 sports seats. Standard seats are fine though. At least Porsche let you choose whereas any high end 3 series gets the sports seats even on the SE.