PCP help please.

A question about : PCP help please.

Hi
I’ve never bought a car using anything other than cash and bank loan/HP before.
I have a preference towards wanting to own and buy car B in my example but my prejudice against PCP is not based on anything scientific, I’m just set in my ways!
The cars are the same make and spec , both would be on 20,000 a year mileage PCP which is based on past experience, but it may end up nearer 15,000. Both have a similar deposit figure.

If I went down the PCP route is one deal better financially than the other and is the car B PCP deal better than buying the car outright financed 50/50 cash and bank loan, the interest on which would be approx. Ј500-600?

Car A is brand new and car B is 18 months old with minimal mileage and Ј4500 cheaper.

Car A has a Ј500 incentive and is at 0% interest
Balance to fund Ј12860 (with the Ј500 incentive taken off)
41 x Ј195.65 (Ј8021.65)
GFV Ј4838.20

Car B is at 8.8% APR
Balance to fund Ј8265
41 x 168.85 (Ј6922.85)
GFV Ј3060.00

Thank you in advance for advice.

Best answers:

• Price it on 15000m and pay any mileage excess over that. If you do the deal on 20000 you will get no rebate and so are just paying for mileage you may/do not need.
  May be worth looking at a personal lease instead. That way the dealer has less leverage to tie you in to a lifetime of debt.