At The end Of The PCP Contract

[johnb80]

Be careful with that as trade value is not the same as retail. They will likely go back and look at what a dealer is selling the same car for.

That isnt relevant to them it's what someone will pay them for the car thats important. Even if a dealer is selling them at £15k theyre not going to pay any more than wbac.

In reality as others have said they will likely stick to their guns and you'll be going to the auction to get the car back.

I've had a conversation with both the dealer and the finance co, both have said the same thing we can negotiate at the time according to the market. The finance company dont want the car, they dont want the hassle of auctions and fees etc.

Remember you will have to pay in full immediately for the car so make sure you have enough on a card or enough cash in the bank.

Yep, I've used auctions a lot in my past.

It's a reason I'm actually changing my car and getting an MG4. I'm in a 4 year PCP with my Zoe, which ends next March.

The balloon payment is £10,741, however a car that is identical spec to mine, and the same age with a lot fewer miles can be had for less than £9k. There's little point in doing anything except hand it back to the finance company,

Have you tried talking top the finance company? Santander were very approachable and I had a good conversation with them.

and once the MG4 arrives I'll be doing a voluntary termination. Lesson learned, the MG won't be on PCP. I'll pay the extra a month and actually own it at the end.

PCP is not a bad route to go, youre financing the forecast depreciation thats all. If I'd bought our MG5 on a straight finance deal, I would be well into negative equity throughout, to me the smart money is on PCP.