Owners opinion to keep long term or change Aygo Auto cars every three to four years??

[Nellie2]

Just thought l would get owners thoughts regarding thier cars. I’m a long way off from thinking of keeping or renewing another contract, for my little Aygo, but thought it an ideal time to seek thoughts and views, from other owners.

Is it worth changing and renewing a contract every three to four years or buying the car outright?? I am enjoying the Aygo auto and starting to save to buy outright at the end of the three and half year contract, but is that the right move? or is it more cost effective to keep taking out a new contract??

Mileage is and will be very low, as its just used for local trips, so l estimate that it will only do around two to three thousand per year.  

Thanks in advance for your views and personal recommendations  

[FROSTYBALLS]

People's circumstances vary quite widely, and what may be right for one, may not be for another. Some people like PCP's, some don't. 

It depends how comfortable you feel with renewing the PCP, and leasing rather than owning.

Paying off the 'balloon payment' (the guaranteed future value of the car), will mean that you will own the car, and you can keep it for however long you want or change it when you want.

Renewing the PCP on a new or nearly new car may require you to pay a deposit at the start if you don't have enough equity left in the old car (ie. the old car is worth less or not much more than the guaranteed future value). Renewing will give you a newer car, but on a new lease.

The auto option on the Aygo isn't a true automatic - rather a manual gearbox with automated clutch. With the first generation Aygo, some who have had the auto have found it to be quite expensive to repair if problems occur. The current Aygo has a developed version of the same gearbox, and I have yet to see the same type of issues arise on the forums - although the oldest second generation Aygo will only be 4 years old.

Really only you can decide which way is the best for you.

[Wiz201]

With the 2018 facelift and updated tech on the x play model, I would be renewing my pcp again. I save up enough money for a deposit, last time I only had to pay £500. 

[Nellie2]

Thanks both, its interesting to see what others think or do, its the first time Iv’e taken out a PCP, so was unsure what would be best, going by the majority. Looks like they will give you a good deal to renew a PCP eh? 

[Dark Matter]

13 hours ago, Nellie2 said:

Thanks both, its interesting to see what others think or do, its the first time Iv’e taken out a PCP, so was unsure what would be best, going by the majority. Looks like they will give you a good deal to renew a PCP eh? 

This  is my 3rd car on PCP.

Frankly got fed up of driving potential MOT failures and money pits. PCP and a new car every 3 years or so is a revelation and works for me , but  I accept not for some.

People say "ah but you will never own it" ...I say "Great, that's kind of the  point."

Anyways, my dealer offered to change my 2015 Aygo for a new one  6 months before PCP was due to end.

I wasn't interested at first but they persevered with the offer of a "great deal"

So I  configured an X Clusive with every option   including leather and fun roof. I submitted it a bit tongue in cheek  with the following  caveats.

1. I don't want to give you any money

2. I don't want to pay any interest

3. I want to pay less every month than I am at present.

They said yes to all three and the rest is history.

To be fair you have to bare in mind this was 2018 pre face lift  model - but Toyota  had to build it due to high spec so it wasn't stock they were trying to shift.

 

 

 

 

 

[Nellie2]

That really sounds tempting!!, to have all you want and more, even on a pre 2018 model is a great deal. Perhaps l dont need to save to pay off the lump ending sum ha!! Getting more and more tempted to carry on the pcp when it somes to an end or near the end!! Thanks Dark Matter 

[zuh]

Hi,

I would consider buying a hybrid Toyota with a long-term credit and keep it for a very long time, because these cars are famous for being indestructible. I am not sure that an Aygo will age that well. As time goes by, maintenance gets more and more expensive and the risk of failure increases.

There are many well-known arguments against hiring one's car and you sure know them. According to my calculation and in my case, the PCP was interesting because I chose the lowest trim level, I do not have any option. Also if you can benefit from a special offer, seize it! Personally, I prefer PCP. I always drive a new/recent car, I have nothing to worry about. With the new mobility solutions, I would not be surprised if no one bought their car in a few years.

In my country (France), the deposit is rather high, £1750!!! The Aygo is not the cheapest car that you can find, there are better bargains (Fiat Panda, Dacia Sandero, Kia Picanto, Hyundai i10...).

[Nellie2]

Thanks Zuh, Seems that retaining the car or any car on pcp is the way to go. Seriously thinking, that l shall forget saving to buy the car at the end of term!!! Not really looked at other small cars, but worth considering hybrid, again, soemthing l shall look at near the time. 

[zuh]

4 minutes ago, Nellie2 said:

Seriously thinking, that l shall forget saving to buy the car at the end of term!!!  

The problem with PCP is that it can be a vicious circle. It prevents people from saving to buy their own car, and some will never possess a car 😄

Last week, I went to the Toyota dealership and there was a surprising amount of Aygos with 20000 miles or so, I am sure these are former PCP cars.

[Parts-King]

Most people are not bothered if they own the car or not. They want a new car, on a fixed budget, and PCP offers that. From a dealer point of view, they get a new registration, then they get the part exchange to sell too. PCP has become the most popular way to get a new car

[Wiz201]

22 hours ago, Nellie2 said:

Thanks both, its interesting to see what others think or do, its the first time Iv’e taken out a PCP, so was unsure what would be best, going by the majority. Looks like they will give you a good deal to renew a PCP eh? 

Yes staying with the same dealer I think will get you better deals because they want you to stay with them.

1 hour ago, Parts-King said:

Most people are not bothered if they own the car or not. They want a new car, on a fixed budget, and PCP offers that. From a dealer point of view, they get a new registration, then they get the part exchange to sell too. PCP has become the most popular way to get a new car

I'm not bothered really, I think running a new car on a three year basis with only one MOT to worry about is good for me.

[Parts-King]

You probably wouldn't have to worry about the MOT either as your dealer would want you into a new car by then, there is always a deal to be had  

 

[Nellie2]

Yes, seems ideal to just stick to a pcp, provided l get another good deal. I’m way off that stage, as only started the first pcp in December!!  Thats why l thought it an ideal question to put to people who have, or had a pcp, as saving ready to keep if l need too. The little Aygo would of only done around 8000 miles by the end of my three and a half year contract!!

Thanking you all for your thoughts and findings of having a pcp.

[eygo]

dont forget you can px your car even on a pcp at any time you dont have to see the pcp through to the end

so if a good offer comes to the market place you can take advantage of it even with another manufacturer

[Nellie2]

Thanks eygo, didnt realize that. Handy to know, as maybe a good bargaining discussion!,😃

[eygo]

i've swapped cars with 18 months of my pcp left the only criteria is that you need to be able to clear

the outstanding balance with either equity or your cash

[Dark Matter]

15 hours ago, Parts-King said:

Most people are not bothered if they own the car or not. They want a new car, on a fixed budget, and PCP offers that. From a dealer point of view, they get a new registration, then they get the part exchange to sell too. PCP has become the most popular way to get a new car

This. ^^^^^^

Nail hit firmly on the  head.

I would venture to guess that 70 - 80%  of privately owned new  cars are on PCP or similar. There is a growing reluctance to own/ a depreciating asset.

A few  of dealers have to told me (Audi,Toyota, BMW, Volvo, VW) that " nobody " BUYS a new car these days. That could have been hype to push PCP , but gut feeling and  knowing what friends, work colleagues  and  family have done  seem to  have a ring of truth.

At the end of the day, if you can afford the payments,  it depends how much you value trouble free motoring and the "thrill " of owning a new car is to you. It isn't for everyone . It's not particularly good option if you do a high mileage for example. 

It works for me and clearly many others but you will always get nay sayers opining the I am "mad" and  how their  "perfecty good" car only cost them £500...  good for them ...

[Parts-King]

I believe PCP accounts for around 85% of new car sales, HP is dead in the water, it no longer suits the majority of new car owners, however that is still an option. Those who say "Cash is King" have not moved with the times, there are very few benefits to paying cash these days.

[FROSTYBALLS]

18 minutes ago, Parts-King said:

HP is dead in the water, it no longer suits the majority of new car owners, however that is still an option.

Don't think Toyota Finance have offered HP for at least a couple of years.

[Parts-King]

Just now, FROSTYBALLS said:

Don't think Toyota Finance have offered HP for at least a couple of years.

True, but there are still a lot of finance companies that will offer it, at a price......

[Dark Matter]

11 minutes ago, Parts-King said:

True, but there are still a lot of finance companies that will offer it, at a price......

You will struggle to find a loan  at 0%   😂

My suspicion is that dealers make little margin from the "sale" of a new car and  Toyota finance logically make nothing from  0% terms

The "profit " is in having a steady supply of fairly new,  low mileage, well cared for cars with full service history ( all PCP requisites)

Then a kick back from Toyota  for reaching sales targets , arranging PCP ... and of course servicing.

[FROSTYBALLS]

Not all PCP's are 0%.

One other alternative is personal loans - currently available from mainstream lenders from 2.8% and these often aren't tied to the car.

[Nellie2]

Must admit, apart from getting a good price for my car was a pcp with low depoist and 0% interest. 😃👍

[Dark Matter]

1 hour ago, FROSTYBALLS said:

Not all PCP's are 0%.

 

Agreed.  But they are not uncommon ( achieved it 2 / 3 times so far).When I did end up paying a modest interest  rate I managed to negotiate a massive discount on list price  . So swings and roundabouts. I wouldn't have proceeded without some sort of deal and I guess the dealers know that.   Promotions happen all the time( the 0%  carrot frequently dangled from many manufacturers)   so I guess the savvy buyer grabs a deal when they can.

[Wiz201]

I received an offer through the post today to have an early swap with a 0% interest deal but I've only had Rosie just over a year. I'm going to build up more money for the deposit first. They were offering £1500 deposit towards it though.