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    Basil Hume
    Car PCP - early termination / part exchange?
    • #1
    • 7th Aug 07, 8:58 PM
    Car PCP - early termination / part exchange? 7th Aug 07 at 8:58 PM
    I bought a car last year on PCP and would now like to change it.

    I'm aware that there will be some negative equity (£1k or so) due to the relative depreciation and likely settlement figure on what I borrowed under the PCP, but c'est la vie! I can't "walk away" from the PCP as I haven't yet paid 50% of its value.

    I have two options as I see it:

    a) settle PCP early with finance company, sell the car privately, then buy a new car
    b) walk into a dealer, part exchange the current car, start a new PCP and have the new finance company settle the old PCP

    I'd prefer b) because of the hassle involved to be frank! Is this possible and does anyone have experience of this situation?

    Many thanks
    Last edited by Basil Hume; 07-08-2007 at 9:01 PM.
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