Equity at end of PCP

[romeogolf]

I've never had a PCP deal to the end before but mine is due to expire next summer.

What sort of equity is usually left at the end of the deal assuming you've not exceeded the mileage limits? From what I've read the idea is that there's "enough" there for a deposit on the next one.

I'm not banking on this and should have ~£4k deposit to use plus anything they find in the car, but am curious as to what the usual balance is.

For reference it's a Mercedes SLK250CDI with a 20k/yr mileage limit over 24 months and a GMFV of about £23k, bought new last year. There are some small scuffs on two wheels and a paintchip on the front spoiler about the size of a postage stamp. I don't plan on buying another Mercedes, but wouldn't rule it out entirely if it's the best way to get a good deal.

[romeogolf]

Hi Shurv - That was my intention anyway (well, without the private sale, because I really can't be bothered) but I'm just curious as to what sort of equity is usually found.

How common is it to be in negative equity?

[romeogolf]

Shameless bump to see if anyone else can describe their experiences with this?

[romeogolf]

Truckosaurus said:

You must know what your balloon figure is, then just type your number plate into WeBuyAnyCar (or similar) to give a rough current value.

Then you should know if you are in for a Brucie Bonus or getting the bus home once you've handed the keys over.

Also. Isn't the perfect PCP (for the 'buyer') one where there is an unrealistic large balloon value so you hand the car back having paid only a fraction of the actual depreciation?

Edited by Truckosaurus on Friday 25th July 13:58

I just ran it through and WBAC is valuing the car at about £20k! I'm not really hoping to get money back, it would just be a bonus!