PCP Help

[MikeyVayle]

Hi guys, I’m new the forum.

Currently have a pcp contract with VW for a new scirocco st the start of the year

It pretty much starved it self of fuel and put me infront of a HGV lorry.

They have fixed the car but I can no longer trust the car and no longer want to drive it or want it.

This is the first car I have on pcp. And not sure the best way going about getting rid of it.

Thanks
Mike

[numtumfutunch]

Put in on Autotrader or the classifieds here

Sell car

Settle finance with VW

Job done

Curious about the starved of fuel bit though, was that user error or something else?

Cheers

[JaredVannett]

Another option if you can't be bothered selling privately:


Get a settlement quote from VWFS which will be valid for 30 days highlighting the total amount to be repaid.

Get an online quote from WBAC for the car.

If WBAC's offer is below the settlement quote you will have to pay the shortfall.

Make an appointment with your nearest WBAC, and they'll settle the finance themselves directly with VWFS, relieving you from the PCP. If there is any shortfall, you'll have to pay it here.


I did that with a BMW on PCP earlier this year, the used car market had picked up so I didn't have any shortfall.


https://www.webuyanycar.com/

Edited by JaredVannett on Sunday 14th October 20:26

[Mandat]

MikeyVayle said:

Hi guys, I’m new the forum.

Currently have a pcp contract with VW for a new scirocco st the start of the year

It pretty much starved it self of fuel and put me infront of a HGV lorry.

They have fixed the car but I can no longer trust the car and no longer want to drive it or want it.

This is the first car I have on pcp. And not sure the best way going about getting rid of it.

Thanks
Mike

PCP is just like any other form of finance / loan.

Just sell the car and pay off the loan.

If the car is worth more than you owe, then you get to keep the surplus. If it's the other way around, then you'll need to pay the shortfall.

[Edible Roadkill]

How'd it manage to starve itself of fuel?

I'd say whatever happened is very very unlikely to happen again. To leave a pcp will normally incur a huge expense.

[Deep Thought]

MikeyVayle said:

Hi guys, I’m new the forum.

Currently have a pcp contract with VW for a new scirocco st the start of the year

It pretty much starved it self of fuel and put me infront of a HGV lorry.

They have fixed the car but I can no longer trust the car and no longer want to drive it or want it.

This is the first car I have on pcp. And not sure the best way going about getting rid of it.

Thanks
Mike

As has been said, PCP is a form of HP. Get a settlement figure then look at what the car is worth. I suspect - if you've only the PCP out since Jan - you'll be massively in negative equity, unless you put in a large deposit. And if you did, the actual ammortised cost of driving it for 9 months could be eye watering.