handing back car on PCP after 3 months ownership

[EzyQ]

Any one got any advice for me.

I recently purchased an Audi SQ5 3 months ago for the wife, finance is in my name we have just decided to separate and Im looking to offload the car now and clear the balance

with a balance of £22500 I guess I could ask the audi dealer to buy it back will they then offer me a price for the car after subtracting the balance ?

Im guessing the car valuation at £39000 - £22500 means I could pocket £16500 is this correct?

cheers

[ecs]

The contract you've signed probably states that you're stuck with the car until 50% of the term is complete.

[Zoon]

Is there an early settlement charge?
Will a dealer offer you top money? Doubtful

You could always sell private and pay the settlement figure.

[maxest]

My first port of call would be to speak to Audi finance for a settlement figure.. see what WBAC will offer too

[EzyQ]

I think there is something with regards to 6months as dealer contributed £500 deposit and also gave 2 free services so think the cost of that would have to come off the total cash amount to me

[Ste1987]

ecs said:

The contract you've signed probably states that you're stuck with the car until 50% of the term is complete.

Not necessarily. PCP is a form of hire purchase, just structured differently. What you're referring to is if he wants to veeto, that is withdraw by handing back the car and not owing any more money. He should be able to sell the car back to the dealer and they settle the finance

[smckeown]

I hope you are also the owner

[GlenMH]

I had to get out of PCP early. The first thing I had to do was find out how much the settlement figure was from the finance co.
That has to be paid off before any private sale or as part of the process of selling to a dealer.
In my case, it involved a simultaneous transfer of money from me to the dealer and from the dealer to the finance company whilst I sat in his office.

Good luck.

[rich12]

I bought my misses an Audi A3 a few years ago, after 5 months we decided to get rid. I sold it back to Audi for a decent amount (lost £1k in total).

It should be pretty straight forward.

[zedstar]

EzyQ said:

Im guessing the car valuation at £39000 - £22500 means I could pocket £16500 is this correct?

cheers

That is correct. Ring a few dealers and see what they'll give (or private sale or whatever) and then get the buyer to pay Audi Finance the settlement figure and you pocket the rest.