Selling a car on PCP to webuyanycar

[RM10]

Hi there,

I'm thinking of opting back into my company car scheme for a Mustang Mach-E. I currently have a car on PCP but I know that the value of the car is more than the settlement figure, hence I'm looking at options to settle where I would be paid the difference.

Has anyone got any experience of this? Is it just as easy as taking your car along to a WBAC branch with a settlement statement and they do the rest?

Thanks in advance!

[dannnd]

No firsthand experience, but the FAQ's suggest you do exactly that:

I have outstanding finance on my car. What do I need to do?

We will arrange to pay for any outstanding balance on your car loan up to but not exceeding the price we purchase your vehicle for. You just need to provide us with a current document from your finance company detailing your outstanding loan amount. We will pay off the loan and deducted this amount from the money you are paid for selling your car.

Note that payment from us will be received by your finance company within 3 to 4 business days, however it may take your finance company anywhere from 5 to 10 business days before crediting the funds to your account.

[Don Phil]

I did it with Arnold Clark last year, really is as straightforward as getting your offer, going down there, car gets checked over, agree the price, do the paperwork, they pay the finance from the settlement figure, then they pay you the difference.

[RM10]

Great stuff, thanks guys. The only thing that threw me off on the WBAC FAQs was if you scroll down it started talking about not being able to sell a car on PCP unless you had bought it, but I suspect they meant generally (which is obvious).

[bitchstewie]

Literally did this a month ago.

They paid the finance company (BMW) directly and paid the balance to my bank account.

Just make sure you have an official settlement PDF or letter from the finance company.