Buying a car on PCP - why are the fees from brokers so high? | Ask Honest John

Buying a car on PCP - why are the fees from brokers so high?

I'm looking at buying a new BMW 1 Series on PCP and interested in brokers as the prices are a lot cheaper. They are charging anywhere from £199 to £395 in fees. Is that right? It doesn't seem bad if they can get good prices, but shouldn't the dealer pay this? I've been looking at at Varissa and Autoaid.

Asked on 23 December 2016 by Richard Aylott

Answered by Honest John

We only recommend drivethedeal, carfile, carwow and coast2coastcars - the latter does BMWs. Do not ever buy a car that will not immediately be registered to you. If it's registered to someone else such as a fleet for 3 - 6 months it isn't your car. Any ANPR tickets automatically go to the registered keeper, not to you, and unless you declare that the car is not owned by you there are insurance implications. Obviously any fee a broker charges has to be subtracted from the discount they get you in order to properly compare prices. All that is relevant is the total price you end up paying.

Tags: buying pcp brokers

Similar questions

Recommendations for dealers and brokers?

Which dealers/brokers would you recommend? I have asked carwow to quote and await their reply. Can you suggest others that would pay me to contact?

Thinking of buying my next car from a broker

I am considering buying a new Mk 7 Volkswagen Golf from a car broker, what protection have I got as the purchaser in law and by other means that my money will go to the car supplier and the car will arrive...

Pre-registration with a broker - is this normal?

I am buying a new car online. The broker has told me that the car will be registered to me as first keeper, but they have to go through an administration process which involves changing address details...

Related models