How do I get the best PCP deal?

5 ways to get the best personal leasing deal

1. Pay a larger initial payment.
2. Spread the payments over a longer term.
3. Reduce your annual mileage.
4. Compare lease deals from multiple providers.
5. Check out leasing special offers.

Is it worth putting a big deposit on PCP?

Placing a larger deposit means smaller monthly payments and lower interest charges but could cause future issues. Keep reading for more info. Putting down a larger deposit at the start of a car finance deal is a simple way to reduce your monthly payments – provided you have the cash to hand.

Is it better to pay off PCP early?

Settle early and you own the car with nothing more to pay. This is a good idea if the settlement figure is less than the sum of your remaining payments. This is only likely towards the very end of a PCP finance deal. By settling early you simply reduce your interest bill on the loan, cutting the overall amount you pay.

Is PCP better than HP?

HP can work out cheaper than a PCP over the lifetime of a loan because with HP you’re paying off the amount borrowed more quickly. With a PCP, if you decide to buy at the end of the agreement, you have to settle the big balloon payment. HP isn’t saddled with one of the drawbacks of a PCP: mileage limits.

Can you haggle when buying a car on finance?

Dealers make bigger profits on finance deals, so let them negotiate the car’s value on that basis. You can decline the finance deal once you’ve agreed on a price. If you’re struggling to get a discount but really want the car, offer to buy it there and then.

How do car dealers deal with finance?

Counter Strategy: Don’t even discuss monthly payments. Tell the salesperson you can talk financing later, but first want to know their best price. Pay for the car in cash or get your own financing if you can, but don’t reveal how you’re going to pay until after you’ve negotiated down the total car price.

Is it better to put a large down payment on a car?

Putting money down on a vehicle has plenty of advantages. The larger the down payment, the lower your monthly payment will be—and you’ll probably get a better interest rate, to boot. A larger down payment also helps you build equity faster and protects you and the lender against depreciation and potential loss.