The Best Way To Buy A Brand New Car - Fifth Gear

Vicki takes a look at the different ways to purchase a new car.

[marottajoe]

Do your homework. Find a good used ( 3 yrs old or so) vehicle. Negotiate a good price. Pay cash. Drive till dead. Repeat.

[KRATOS]

1. study hard and work for it
2. Successfully rob a bank
or
3. Sell drugs

[nicolomatias]

Just bust into the showroom, throw a briefcase with 1 million bucks anywhere within the showroom and drive away with your new car. Simple.

[dannyrobinson]

31k for a Citroen!!! in 3 years it'll be sat on the forecourt for 6k if your lucky

[EppingForest]

They should've added method number 4:
Save up for a few years, buy your car with cash💰. You'll also probably get a decent discount if you negotiate!
This method is called 'Living within your means'

[JakeDoherty]

Why are the finances for each car so outrageous? A Citroen DS5 for £600 a month, you taking the mick? Literally for £650 you could have a Range Rover Sport on PCH... Hilarious how most people will believe this tripe.

[egushlak]

'PCP is a sort-of halfway house'

more like PCP helps put you in a halfway house

[Shimmerstrike]

The price of new cars is a joke, seriously who buys a new car, get a car that's 8 years old with 50, 000ish miles on the clock for around £2500-3000. You have the car to do with as you please and your mileage wont depreciate the cost exponentially as it would if it was a new car, meaning that when you go to sell it your can get close to what you paid for it, depending on the condition of it. That right there is better that £22, 000 for a fucking ford focus... a ford fucking focus.

[KurosakiIchigo]

Or you can save up and just buy what you can afford. Owing money on stuff that depreciates day by day and is likely to lose all its value in an instance, in case of an accident, is not a very smart way to go about things.

[andyturner]

If you can afford to pay monthly fees with interest in all these schemes, then you can certainly afford to save that same amount each month too. Get out of the borrow-repay cycle and into a save-buy cycle. After just a few years you'll be affording and driving much better cars because you'll simply have more money.

[lukencam]

PCP is a complete scam. If you have to finance use PCH or HP. Best way is to get a loan and buy a used or nearly new car. I pay 3% interest on my loan of 15, 000. When I had a PCP I was paying nearly 8% and there is mileage caps which means it restricts the freedom of having a car. So glad I got out of it.

[yellowhammer]

here in the U.S. I do a 24 month lease on a certified pre owned car, usually a dealer demo. I set up automatic payments from whatever credit card is currently offering the best cash back or points for the month. right now Im using my Citi Double Cash and getting back 2%.

[psyren]

It was in the news recently that PCP is potentially causing many economies to head for another crash. I read that 90% of all car purchase over the first 3 months of 2017 were PCP and the worry is that people are being offered it after first being refused HP due to a bad credit score. A few defaulting is not a problem, but if many do, the industry will be left saturated with cars they can't sell. Then add the fact that even if people DO keep it full term, many will return it to the dealer or trade it in for a new one which will also saturate the market. Ticking bomb...

[TS-dipp]

Option 4: Get a bank loan for a 2nd hand used & approved which come with bullet proof warranties. Much better interest rates & you don't go through the horror of paying for a car that you never own. Even after taking the depreciation and maintenance into account how do you stomach never owning something that you work very hard to pay for..

[DraughanTV]

4th choice : Save up money and buy something you can truely afford !

[Iceytruth]

I think this was a good thing for 5th gear to talk about. I don't agree with PCP, HP etc but it is popular and worth discussion. I think the show should have brought up the option of a bank loan if someone is planning on borrowing money to get a new vehicle.

One thing to think about is if it wasn't for people buying new cars through these finance options there would be fewer second hand cars on the market for everyone else to buy. These 2nd cars would not depreciate in the same way and would therefore not be as affordable.

[owenchuarbx]

Is there's an option if I could purchase the car spot on at the dealership with all the money to own it?

[coondaddyvlogs]

to buy my new motorcycle, i went to the bank and got a loan, then went to the dealership and bought the bike outright, it ended up 3 thousand dollars cheaper

[joshstreet]

My dad does a PCP deal on his cars and he currently has a 2014 BMW 320d M Sport that cost around £34, 000 originally and he pays just over £400 per month and only put down £500 deposit. It is on a 48 month contract with 8k miles per annum but he does more like 14k.

[Powaup]

Interesting, same in the US but different terminology, also lots of factors to consider