A soon to be Niro owner

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Posts: 7
Joined: Wed Oct 02, 2019 8:06 am

A soon to be Niro owner

Post by Adnic81 » Wed Oct 02, 2019 8:21 am

Hello all.

I am just in the process of selling my BMW 335D XDrive touring and will be coming over to the Kia Niro. The BMW has been a great car and whilst I love it the reality is my Wife does not need 300bhp to go to the gym and Tesco.
The prospect of reducing our carbon impact and covering most of our journeys on EV power alone is very appeling.
We would be looking at a PHEV as this seems to fit our short journeys the best. Longterm aim is to be in a E Niro but for now the halfway house of the used PHEV seems a smart move.

This takes me to the next part I am struggling to get my head around. I have always purchased a car either outright or with a small loan to top it up.
In this case I would be looking at a loan of around £6000 to fill the void.
I am unclear if a PCP deal is a better or worse bet as I don't really understand how it works. Any advise is welcome in any aspect of car choice or buying.

Thank you in advance.

Posts: 162
Joined: Thu Nov 24, 2016 6:19 pm

Re: A soon to be Niro owner

Post by h2onorth » Wed Oct 02, 2019 3:47 pm

Dealer should explain all that, or any car website/ money advice guides.
Main difference is on PCP is where you only for the depreciation of the vehicle while you have it and can hand vehicle back at end of contract period , or pay lump sum to buy the car which is fixed at beginning of contract.
Buying the car with a loan means you have less idea of how much it will be worth after you finish paying for it, meaning the depreciation is more uncertain but at least you own the car
Hope that helps h2onorth

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