Ending a PCP if the car is worth more than I owe?
Discussion
Hey guys
I got a GT86 Aero (16 plate, 10k miles, 1 previous owner who was a toyota manager) a year ago on a 4 year PCP with 5k deposit on £210 a month, 2.9% APR
Im driving the car once a month if that, it has about 1k miles on it over the year, and its costing me about £300pcm when I average in running costs
We buy any car and a few other places are saying 17K valuation, i owe 16K on it based on toyotas buy out figure from their app
Am i in a good position here? can i just throw it back to toyota and walk away with some cash?
Appreciate some advice on this
I got a GT86 Aero (16 plate, 10k miles, 1 previous owner who was a toyota manager) a year ago on a 4 year PCP with 5k deposit on £210 a month, 2.9% APR
Im driving the car once a month if that, it has about 1k miles on it over the year, and its costing me about £300pcm when I average in running costs
We buy any car and a few other places are saying 17K valuation, i owe 16K on it based on toyotas buy out figure from their app
Am i in a good position here? can i just throw it back to toyota and walk away with some cash?
Appreciate some advice on this
A little different but you can offer it back to them and see what they’ll bid you.
Our best bet though is to just go to we buy any car/Evans Halshaw and see what they offer.
They can buy it from you for the quoted value, pay off the finance and then pay you the £1k or so excess. Or if inclined you can try and sell it privately (disclosing the finance) and the purchaser can do the same. A lot more hassle, especially for this type of car, however.
Our best bet though is to just go to we buy any car/Evans Halshaw and see what they offer.
They can buy it from you for the quoted value, pay off the finance and then pay you the £1k or so excess. Or if inclined you can try and sell it privately (disclosing the finance) and the purchaser can do the same. A lot more hassle, especially for this type of car, however.
It all depends if the dealer would want to buy your car and it's worth as much as you think.
£17k sounds a very high trade in price for a 16 plate GT86. There is 16 plates for as low as £15,500 being sold from dealers.
If a car buyer is offering you that much take it. They'll settle your finance and give you the extra if there is any.
£17k sounds a very high trade in price for a 16 plate GT86. There is 16 plates for as low as £15,500 being sold from dealers.
If a car buyer is offering you that much take it. They'll settle your finance and give you the extra if there is any.
Driver101 said:
It all depends if the dealer would want to buy your car and it's worth as much as you think.
£17k sounds a very high trade in price for a 16 plate GT86. There is 16 plates for as low as £15,500 being sold from dealers.
If a car buyer is offering you that much take it. They'll settle your finance and give you the extra if there is any.
yeah its higher than i expected, the Aeros are a bit more expensive and were limited so that may swing it, to be honest i dont need profit just looking to get out of the monthly costs for something i dont use, but ive only got the valuations i can get to go off£17k sounds a very high trade in price for a 16 plate GT86. There is 16 plates for as low as £15,500 being sold from dealers.
If a car buyer is offering you that much take it. They'll settle your finance and give you the extra if there is any.
Your £17k WBAC offer does sound very high. I just tried 16 plate cars and the offers are £14k.
That's a bit more realistic sounding compared to the prices on Autotrader.
Edit.... I see the aero kit does add a good bit. £16,000 for cars advertised at £18,500.
£17,000 looks a really good offer.
That's a bit more realistic sounding compared to the prices on Autotrader.
Edit.... I see the aero kit does add a good bit. £16,000 for cars advertised at £18,500.
£17,000 looks a really good offer.
Edited by Driver101 on Sunday 14th October 15:04
infernouk said:
Butter Face said:
No but you can sell it to WBAC and get some cash. This is your easiest way out of it.
I guess the assumed issue here is WBAC just prices high to get you in the room then knocks a few K off to the point where it isnt a good deal anymore!infernouk said:
Aero spec rather than standard? even 14k isnt too bad and ill just throw in the difference
I edited my post above. Cars with the aero pack advertised at £18,500 at dealers we're coming back at £16k on WBAC. Looks like WBAC are offering good prices on them and the aero kit makes a big difference too.
Driver101 said:
I edited my post above. Cars with the aero pack advertised at £18,500 at dealers we're coming back at £16k on WBAC.
Looks like WBAC are offering good prices on them and the aero kit makes a big difference too.
happy days for me then, i just took a look around and the cheapest aero i can see is 15.7k private sale but its a 2015 in red with 30k miles so not as desirable as my black end of model year with a third of the miles!Looks like WBAC are offering good prices on them and the aero kit makes a big difference too.
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