Discussion
I’ve had three cars with Honda the first car we used my wife’s car as deposit after a few yrs we wanted diesel so changed I paid for leathers in that car which cost me 1700 then a few yrs later we needed a new car for more space the contract is due to end in December but after finding out with pcp we had 13500 to pay which after understanding pcp we don’t own the car can I change it with another car company as I want a bigger car again I want a q7 Audi nearly new what do I do as I just want to pay for that car for a number of yrs and then own the car
Mwrg said:
I’ve had three cars with Honda the first car we used my wife’s car as deposit after a few yrs we wanted diesel so changed I paid for leathers in that car which cost me 1700 then a few yrs later we needed a new car for more space the contract is due to end in December but after finding out with pcp we had 13500 to pay which after understanding pcp we don’t own the car can I change it with another car company as I want a bigger car again I want a q7 Audi nearly new what do I do as I just want to pay for that car for a number of yrs and then own the car
Oh dear. I doubt that anyone is going to make sense of that, what without any punctuation, sentence structure, etc.If you want people to spend their time in giving you advice, then make it easy for them to read and understand what you are asking.
djc206 said:
Yes you can part exchange your current car against an Audi Q7.
Check the small print before doing this.On my car I can sell or trade in or whatever I want with whoever I want as long as I give what's outstanding to the finance company.
On my wife's car it says in the contract you may not sell the car
Both are ultimately with VW Finance
Hackney said:
Check the small print before doing this.
On my car I can sell or trade in or whatever I want with whoever I want as long as I give what's outstanding to the finance company.
On my wife's car it says in the contract you may not sell the car
Both are ultimately with VW Finance
No dealer is going to accept a part exchange car without checking for finance anyway. The finance gets cleared by the buyer and the balance goes to you/negative equity gets cleared by you.On my car I can sell or trade in or whatever I want with whoever I want as long as I give what's outstanding to the finance company.
On my wife's car it says in the contract you may not sell the car
Both are ultimately with VW Finance
I’ve had 3 cars through VWFS on PCP. All part exchanged, the dealer paid off the finance and took ownership of the cars on all 3 occasions. Is your wife’s a PCP, HP or a PCH?
You have three sensible options:
Clear the PCP finance yourself (use a bank loan if necessary) and sell the car privately.
Trade the car in at Audi and they will clear the finance for you.
These two options only make sense if the car is worth more than the outstanding finance.
The third option is if the car is not worth more than the outstanding finance, then just hand it back at the end of the finance term and walk away.
You don’t have to pay the balloon payment if you don’t want to, just give them the car back and as long as the mileage and condition is in line with the agreement there is nothing more to pay.
Then you can just start again with Audi.
The worst possible option is to trade the car in with Audi if the car is worse less than the outstanding finance and get the remainder of the outstanding debt rolled into your new finance agreement. It’s a treadmill of debt that is very hard to get off.
Clear the PCP finance yourself (use a bank loan if necessary) and sell the car privately.
Trade the car in at Audi and they will clear the finance for you.
These two options only make sense if the car is worth more than the outstanding finance.
The third option is if the car is not worth more than the outstanding finance, then just hand it back at the end of the finance term and walk away.
You don’t have to pay the balloon payment if you don’t want to, just give them the car back and as long as the mileage and condition is in line with the agreement there is nothing more to pay.
Then you can just start again with Audi.
The worst possible option is to trade the car in with Audi if the car is worse less than the outstanding finance and get the remainder of the outstanding debt rolled into your new finance agreement. It’s a treadmill of debt that is very hard to get off.
Mwrg said:
I drive for a living want something big comfortable sick of changing gear when I drive it I’m tall and 17 stone plus plenty of room for kids in back plus when you go on holiday motorway cruiser thanks for help will tell the wife
It's ok, was only jesting, buy what you want and don't worry what anybody else thinks. I was just preempting somebody else posting the same thing 
Mwrg said:
The value is worth more than the finance it’s only done 14000 miles only gets driven to shops and back it’s changing from pcp to hp is where I just want to pay for a number of yrs and then it’s yours so if I’m correct hp is what I need when I go to next Dealer thanks for the help
If you have equity in the current car, then you can just sell it or part-ex it to release the equity.PCP is just like HP, except there is a different payment profile (deferred balloon payment) and there is also the option to hand the car back if you don't want to make the final payment.
If you do want to keep it, just pay off the finance till the end, just as you would do with regular HP.
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