Over the years I have had a number of PCPs which have always suited me, and on different terms, nil, small and large deposits, and I agree you will always pay more with a small or nil deposit.
But in my experience and in my opinion if the Apr is very low under 6% or better still even lower the amount of additional interest paid is not that significant on small deposits such as 1k or 2k but it is more noticeable on a large deposit such as 5K.
It all boils down to what available cash you have and what other things you wish to do and what income you expect to earn/ receive in the future which could offset any increased total loan costs.
The beauty of the PCP it can be tailored to anybody's personal circumstances. My arrangement suits me. In my experience once the deposit is paid it is unlikely you will retrieve much or any of it when you trade the car in in 2, 3 or 4 years time. Vat and depreciation will see to that.
My advice is get several PCP quotes with different levels of deposit over the same period with the same Apr , compare the total costs and take the one which suits you best, but consider how you see yourself financially in 3 to 4 years time.
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