Dilema

[sw67]

I have a Audi A6 Avant coming up to 3 years old and it is in negative equity ( wbac figure to buy ) of £4750.

When can I VT the Audi using the figures below

Deposit £3975
48x £425 ( 34 made )
total amount payable £37989

I also have a 2y old fiesta ST that is in my name ( my sons car that he is changing in may and pays for) that I could keep and save myself £200 per month.

I can't decide wether to keep the A6 long term ( 7 years ) or just get rid

[Montybaber]

Looking at your figures I have a feeling you can VT in a month or two

May be wrong though

[ilikejam]

Obviously without knowing the full story...

50% of £37989 = £18994.50

£18994.50 - £3975 = £15019.50

£15019.50 / £425 = 35.34 months


So I'd say after another 2 payments.

[sw67]

Thanks guys - that's what I thought.

Looking to change at 3y as I normally do and the finance settlement is £18750 and px offers around £14000.

Seems mad to me to pay another years payments when it looks like I will need to hand it back and walk away at the end of the agreement as the gfv is £13500.

[ilikejam]

If you're considering getting a new car from a dealer it might be worth speaking with them about rolling the neg into the next deal - settling the finance is preferable to VTing from a credit score perspective. Obviously beware of ending up further into neg the next time.

[sw67]

ilikejam said:

If you're considering getting a new car from a dealer it might be worth speaking with them about rolling the neg into the next deal - settling the finance is preferable to VTing from a credit score perspective. Obviously beware of ending up further into neg the next time.

I don't need to buy another car as I have a 2y old fiesta ST that is in my name and has 12m left on pcp but is in positive equity now. My son was going to trade in but it seems a no brainer that I ditch the Audi and keep fiesta for myself as I am also keen to stop using pcp to pay for cars

[ilikejam]

sw67 said:

ilikejam said:

If you're considering getting a new car from a dealer it might be worth speaking with them about rolling the neg into the next deal - settling the finance is preferable to VTing from a credit score perspective. Obviously beware of ending up further into neg the next time.

I don't need to buy another car as I have a 2y old fiesta ST that is in my name and has 12m left on pcp but is in positive equity now. My son was going to trade in but it seems a no brainer that I ditch the Audi and keep fiesta for myself as I am also keen to stop using pcp to pay for cars

Very sensible choice.