VT PCP on my fiat 500

[Looozzz]

Hi guys sorry if this has been mentioned loads of times before!

I have been to SEAT today to sort out a new car, I can VT my fiat 500 in February. I haven’t said yes to SEAT placing the order for my car yet as I want to make sure I know the ins and outs of VT!

When is the best time for me to send my VT letter? I would be picking the new car up in March.

Is it easier said than done when trying to VT? I’ve read a lot of different things and some have seemed to have gone smoothly whilst others are still battleing with the finance company! I’ve seen that Fiat FCA charge £70 to collect the vehicle?! Are they allowed to do this?

I’m just trying to get my head around it all! As I don’t want to say yes to SEAT for them to order my car, if I can’t VT my current car without loads of hassle

Thank you

[Mandat]

Do you have any equity in the Fiat?

Have you consdered simply part-exing the Fiat agaisnt the Seat?

This way you can avoid issues of damage, mileage, collection fees, etc.

[Looozzz]

Sorry I forgot to mention that I’ve already spoken to fiat and my VT date is the 1st Feb. I just wanted to know if it was going to go smoothly or not haha.

[SteBrown91]

Get your car valued for part ex - if it’s worth more than the oustanding finance you would be an idiot to VT

[djc206]

^ What they said. Get a settlement figure from Fiat finance and get a quote for a PX, it may save you having to VT the finance agreement if you have any equity or if there is a small cost it may be a better idea as the PX valuation will already account for any minor defects.

[Looozzz]

I’ve got a settlement quote and it’s over 8k my car is only worth just over 5k, which is why I am doing the VT.

[djc206]

Looozzz said:

I’ve got a settlement quote and it’s over 8k my car is only worth just over 5k, which is why I am doing the VT.

Ouch, fair enough!

[fourstardan]

70 quid charge sounds a bit weird. Most cars go back to the BCA who do inspections and collections.

Make sure you have got quotes for damage work. BCA were not too bad tbh on prices.

[daydotz]

When I helped a friend VT a corsa the £70 collection fee could waived if the car was delivered to BCA sight of his choice so you could save this if you're inclined to

[Looozzz]

Okay, thanks for all your help. I may get the wheels refurbished? or is there no point?

[Jefferson Steelflex]

They need to follow the BVRLA guidelines for return standards, so you’re allowed some minor damage to wheels etc. They should send the details to you when you start the VT process.

From memory, it is something like <10cm scuff per wheel is acceptable.

[Looozzz]

Jefferson Steelflex said:

They need to follow the BVRLA guidelines for return standards, so you’re allowed some minor damage to wheels etc. They should send the details to you when you start the VT process.

From memory, it is something like <10cm scuff per wheel is acceptable.

Ah thank you, I know one of them has lacquer peel caused by a stone chip, surely this would be usual wear and tear?

I just don’t want to VT it and be hit with a big invoice! When I can get the repairs done before hand for the fraction of the price