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PCP APR on a used Car

Home Forums Car finance PCP APR on a used Car

This topic contains 1 reply, has 1 voice, and was last updated by Stuart Masson Stuart Masson 3 years, 2 months ago.

  • Author
  • #88066 Reply

    Hi All,

    I’m looking at a used BMW 4 series convertible about a year old but the APR is 10.9% which is high for a used about a year old.

    The APR was not as high on my current MB C Class coupe and that was for a car that was 4 months old.

    I know you get a better rate when you buy a brand new car but 10.9% is just silly.

    Does anyone one any way I can get a lower APR rate from BMW.

    All tips, tricks will be appreciated.


  • #88094 Reply
    Stuart Masson
    Stuart Masson

    Hi Abs. That APR sounds pretty normal for a used car PCP or HP from a dealership. It depends on how much you are financing and over what term length you choose (ie – the more money you borrow, and the longer the term, the lower the APR).

    There are not usually great finance deals on offer for used cars from manufacturer finance companies, unless there is a particular focus on clearing used car stock. Your previous deal on the C-Class was quite a good deal if you got a more competitive APR than that.

    You can certainly shop around for better deals on borrowing money from other sources (eg – a personal loan from a bank will probably have a very low APR), but it depends on the type of finance you are looking for. Banks generally don’t do PCPs, so you are repaying the entire value of the car and therefore your monthly payments will be higher.

    Editor, TheCarExpert.co.uk and

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