Buying a car on PCP or on Motability?

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Zenzer
Zenzer Online Community Member Posts: 1 Listener
edited July 11 in Transport and travel

Please can someone tell me which is more advantageous:

Buying a car on PCP or on Motability. Thank you.

Comments

  • Albus_Scope
    Albus_Scope Posts: 10,513 Scope Online Community Coordinator

    Hi there @Zenzer and a very warm welcome to the community.

    It all comes down to an individuals circumstances over which would be better. Personally, I prefer Motobility, as it includes insurance etc, so it's one less thing to worry about.

  • OverlyAnxious
    OverlyAnxious Online Community Member Posts: 4,866 Championing
    edited July 11

    Hi,

    It's not possible to buy a car from Motability any more. You have to hand it back at the end of the lease. All of the money is gone.

    If you use PCP, then you can pay a final payment at the end of the contract to keep the car and own it yourself.

  • rubin16
    rubin16 Online Community Member, Scope Member Posts: 946 Championing

    With Motorbility you don't own the car and are leasing it, the benefits of which are all you need to do is add fuel. Everything else such as insurance and things are taken care of giving more peace of mind for people.

    With PCP you own a portion of the car, and are making payments upto the point you can buy another vehicle in future. for example:

    ←——————————————^————————> - Full Car Value
    (point you want to sell the car/end of agreement)

    when you reach a certain (sweet spot) is when you want to switch to another vehicle. You'll be given 3 options, pay the rest of the vehicle off and own it. Sell the vehicle to which the finance company will take their chunk, or buy another Vehicle on PCP.

    Bare in mind that if you have a vehicle on PCP that you must take care in the vehicle more, as any damage will affect the value at the end of your PCP agreement when it is appraised. PCP is good for having a new vehicle every 3/4 years.

    If you are looking for the better option, motorbility will always be the best option available. You have more peace of mind, and can also get the benefits of PCP (without owning the vehicle).

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