Trading in PCP deal query
Discussion
Looking some advice if anyone would know.
We purchased a brand new 5dr 2017 vw polo match 1.0 75 last year on pcp over 49 months, but just had a new born and discovered the cars a bit on the small side now for maneuvering the child seat/pram in and out of.
We are looking to see what our options are so early in the pcp contract... of any.
The total cost was around 15k and had scrappage and deposit of £3400 with just under 12k financed. Does anyone have any dealings with trading a pcp deal back to get an older larger vehicle (say 2014+) where we wouldnt be left to pay a shortfall?
Ideally we wouldnt have the funds to pay another hefty deposit.
We purchased a brand new 5dr 2017 vw polo match 1.0 75 last year on pcp over 49 months, but just had a new born and discovered the cars a bit on the small side now for maneuvering the child seat/pram in and out of.
We are looking to see what our options are so early in the pcp contract... of any.
The total cost was around 15k and had scrappage and deposit of £3400 with just under 12k financed. Does anyone have any dealings with trading a pcp deal back to get an older larger vehicle (say 2014+) where we wouldnt be left to pay a shortfall?
Ideally we wouldnt have the funds to pay another hefty deposit.
Gazman999 said:
Looking some advice if anyone would know.
We purchased a brand new 5dr 2017 vw polo match 1.0 75 last year on pcp over 49 months, but just had a new born and discovered the cars a bit on the small side now for maneuvering the child seat/pram in and out of.
We are looking to see what our options are so early in the pcp contract... of any.
The total cost was around 15k and had scrappage and deposit of £3400 with just under 12k financed. Does anyone have any dealings with trading a pcp deal back to get an older larger vehicle (say 2014+) where we wouldnt be left to pay a shortfall?
Ideally we wouldnt have the funds to pay another hefty deposit.
You need to (i) get a settlement figure from your finance company, (ii) get a trade in value from a dealer (you could use WBAC to give you an idea), (iii) if you are in negative equity, you can either roll it forward into your next deal (though not really advisable), or choose a cheaper car, or simply sell the car settle the finance and then take a loan out to buy a 2014 car in budget rather than by way of PCP. We purchased a brand new 5dr 2017 vw polo match 1.0 75 last year on pcp over 49 months, but just had a new born and discovered the cars a bit on the small side now for maneuvering the child seat/pram in and out of.
We are looking to see what our options are so early in the pcp contract... of any.
The total cost was around 15k and had scrappage and deposit of £3400 with just under 12k financed. Does anyone have any dealings with trading a pcp deal back to get an older larger vehicle (say 2014+) where we wouldnt be left to pay a shortfall?
Ideally we wouldnt have the funds to pay another hefty deposit.
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