Car Purchase Financing

I will soon be ooking for a good second-had car at around £3K to £5K, as that is all I can afford at present. I have seen 2 sorts of finance/payment deals advertised by car dealerships - HP and something called PCP or Personal Contract Leasing. I was just pondering as to the best deal to go for? Does anyone have any experience of this, and which would be the best way to keep monthly payments as low as possible. I am aware that in the end, the Finance Company that sells these products still makes money out of the interest charged whichever way the customer pays off the balance of the purchased vehicle.

As a life member of 'Unison', I am aware that union members can get good deals through agreements with car dealerships and finance companies. Any experience of this would be appreciated, and any advice to follow to avoid possible pitfalls or rip-offs....


Gallery Guru
Get two credit cards with 0% balance transfers. I think Barclaycard is 25 months 0% on balance transfers with a 3% fee. Buy on one card, transfer to the other.
Buy on credit card and move the money from 0% deal to 0% deal and just pay the transfer fee and make monthly standing orders.
Remember. 0% debt is still debt.
PCP you may have to put down a whoopii sized deposit and or a final payment at the end of the term, could be more than the car is worth.

Did that once, smashed the car, bought another one up specked with a loan from the bank it was £30+ a month cheaper.
You need to check the figures as they apply to you.

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