Hi, Looking for advice from people with more experience out there. If I was to buy a bare bones new T6.1 or T7 on PCP as a personal buyer (not as business). Could I convert it to a camper van without getting into legal hot water? I would be paying it off in full at the end of the 4 year term. My only expereince of buying a vehicle like this was Italy where I was working in 2017, I bought a new Skoda on pcp and paid the balance at the end off at the end. They never looked at the vehicle. Is this doable? I am sure there will be many reasons why it's not a good idea, but I would like to see some comments.
Buy a New Panel Van from a dealer on PCP or HP and convert to a camper?
- Thread starter SmallPaul
- Start date
If that's how you want to di it, you should be fine but, as above, tutto expensivo!
You may not be able to afford to buy it after four years if you are converting it. It's not a cheap job by any means.
If you can afford to buy it outright after four years, it may be better to buy a banger and save for four years.
Appreciate your predicament, it's a hard purchase to strategise for. Good luck and keep us updated
P.s. buy a top spec panel van with AC and comfort pack at the very least
You may not be able to afford to buy it after four years if you are converting it. It's not a cheap job by any means.
If you can afford to buy it outright after four years, it may be better to buy a banger and save for four years.
Appreciate your predicament, it's a hard purchase to strategise for. Good luck and keep us updated
P.s. buy a top spec panel van with AC and comfort pack at the very least
As above PCP is an expensive way as your monthlies only account for the depreciation amount. The final payment still sits there accruing interest. PCPs are really only beneficial to people rolling the deal into another new vehicle at the end of the term. They are just interested in the monthlies, the overall cost in irrelevant to them.
Interest rates are pretty high at the moment, so perhaps consider a bank loan over a longer term instead.
The risk with PCP with what you have in mind is what happens if circumstances change? If you need to sell the van, or hand it back during the term, you could end up loosing a lot.
Interest rates are pretty high at the moment, so perhaps consider a bank loan over a longer term instead.
The risk with PCP with what you have in mind is what happens if circumstances change? If you need to sell the van, or hand it back during the term, you could end up loosing a lot.
Appreciate the Italiano, molto costoso ! Is the depreciation on a new van a big cost then after 4 years?
As others have said, it strikes me that PCP is not an appropriate way to finance a van that you subsequently convert. Far better to take out a PCP on a new conversion. As I remember from my past PCP contracts, title only passes to you after a certain period and certainly not when you take delivery. I would check the terms and conditions very carefully for information about when the full title of the van passes to you. I’m fairly sure you’ll need to seek the permission of the finance company in advance to make what is a major material alteration to the vehicle since it will have a significant impact on the residual value should you decide to hand it back at the end of the agreement term… as a campervan.
Last edited:
As above, you can't modify the van on PCP, as if you had to hand it back, they want it stock.
You will find the PCP contract states this, and if they find out you modified it ( like you change the DVLA type) before the end of the PCP agreement, they can terminate your contract. It's happened numerous times with YouTubers buying flash BMWs and modding them.
The only reason to ever buy on PCP in my view is if you are concerned about depreciation by the end of the term. Otherwise there isn't much point.
If you buy on PCP and the van is worth less than the market value at the end of your term, you just hand it back and avoid the depreciation. On HP you own the van in full no matter what.
Given you are modifying it and hence can never give it back, what is the point?
You will find the PCP contract states this, and if they find out you modified it ( like you change the DVLA type) before the end of the PCP agreement, they can terminate your contract. It's happened numerous times with YouTubers buying flash BMWs and modding them.
The only reason to ever buy on PCP in my view is if you are concerned about depreciation by the end of the term. Otherwise there isn't much point.
If you buy on PCP and the van is worth less than the market value at the end of your term, you just hand it back and avoid the depreciation. On HP you own the van in full no matter what.
Given you are modifying it and hence can never give it back, what is the point?
Last edited:
Technically you still own the vehicle with PCP, you just have a contract that they will buy it back for the remainder of the agreement at the end of the period unless you pay the balloon payment.
But that contract forbids modifications as they want to protect their investment.
When you hand a PCP vehicle back, they charge you for any damage or modifications to put it back to stock.
HP you own the van and just have taken out a loan for the full amount.
Leasing, you do not own the vehicle, you cannot do anything too the vehicle without prior notice and they can even stipulate who services it etc.
But that contract forbids modifications as they want to protect their investment.
When you hand a PCP vehicle back, they charge you for any damage or modifications to put it back to stock.
HP you own the van and just have taken out a loan for the full amount.
Leasing, you do not own the vehicle, you cannot do anything too the vehicle without prior notice and they can even stipulate who services it etc.
A finance provider says about PCP...
"No outright ownership – the car won't legally be your property during the contract period. You'll only own it at the end if you pay the balloon payment"
And about HP according to Experian...
"A car bought on hire purchase (HP) is not owned by the buyer until the final payment is made. While the buyer is the registered keeper and is responsible for insurance and maintenance, the finance company retains ownership until the last payment is cleared."
"No outright ownership – the car won't legally be your property during the contract period. You'll only own it at the end if you pay the balloon payment"
And about HP according to Experian...
"A car bought on hire purchase (HP) is not owned by the buyer until the final payment is made. While the buyer is the registered keeper and is responsible for insurance and maintenance, the finance company retains ownership until the last payment is cleared."
Realistically you will be fine.
But is the PCP a good deal is what I'd be asking myself.
But is the PCP a good deal is what I'd be asking myself.
Similar threads
- Deleted member 84128
- General VW T6 Chat
