Selling a car with outstanding finance
Discussion
Hi everyone,
I have recently accepted a new job as car salesmen, and now have got the perk of getting to use demonstrator cars.
I haven't physically started my job yet as I am serving my notice period in my old job so this is why I haven't asked the dealership who would have experience with this.
I am 6 months into a 24 month pcp agreement. I have paid just over £3000 including the deposit so far, and the total amount payable over the 24 months is around £7500.
To end the agreement early and simply hand the car back, I would have to pay half the agreement, £7300 (as this includes the GFV).
So, what is the best thing to do to get rid of the car? Get someone else to take over the payments (is that possible - or are the finance companies funny about this).
Or should I get a loan, pay the £3500 outstanding plus the £7000 and sell the car for around £10,000.
Many thanks in advance.
I have recently accepted a new job as car salesmen, and now have got the perk of getting to use demonstrator cars.
I haven't physically started my job yet as I am serving my notice period in my old job so this is why I haven't asked the dealership who would have experience with this.
I am 6 months into a 24 month pcp agreement. I have paid just over £3000 including the deposit so far, and the total amount payable over the 24 months is around £7500.
To end the agreement early and simply hand the car back, I would have to pay half the agreement, £7300 (as this includes the GFV).
So, what is the best thing to do to get rid of the car? Get someone else to take over the payments (is that possible - or are the finance companies funny about this).
Or should I get a loan, pay the £3500 outstanding plus the £7000 and sell the car for around £10,000.
Many thanks in advance.
SV8Predator said:
I would hang on to it.
Your new job will probably last three or four months; you'll have lost the will to live by then (that's if you don't jack it in immediately as soon as they fully explain the pay plan to you).
Christ, someone is a positive little bunny aren't they??Your new job will probably last three or four months; you'll have lost the will to live by then (that's if you don't jack it in immediately as soon as they fully explain the pay plan to you).
Op, advice in the posts above are the way to go.
Congrats on your new job, come on over to the Car Salesmans thread at some point!
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