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VW PCP finance
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Vehicle has 3 years warranty I believe and as stated in last post had a fault after first 2 months which took 2 weeks to fix.
Ha ha not that daft to pour sugar in it
The warranty is to fix faults that are covered by the warranty. It is not a return or replace warranty. Much the same as most consumer products.
Maybe you should have waited until you were mature enough to embark on a serious financial commitment.0 -
Op I sometimes buy cars on pcp myself, what I would say is never visit the garage/ salesman until you want to or need to change your car.
They always find a way of trying to get you in to a new car instead of keeping the old one, it's how they earn a living.
Unless you put down a large deposit which I very much doubt then you will probably have little or no equity in your current car, these deals are designed to keep you financing new cars every few years.0 -
I'm with someone who quoted to know what to do before you walk in the garage.
First thing you need to do is tell the dealer you want a valuation on your vehicle first....if it's not 9k then walk away. Or if you are that desperate find some cash for the difference. Dunno what the dealer offered but it will not make you in good position.
You like lots of people are getting itchy feet at the two years, dealers will say they can get you out of it, but reality is you are never going to be in a good position.
Have you looked at GLASS or guide pricing? How much they are going for on Auto Trader etc?
My view is a lot of people don't have decent cars like a polo so give it a clean, keep it hoovered and appreciate it for another year or so until you are in a better position on the deal
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@MercDriver
No one can predict their future job and circumstances changed hence the questions
Nothing to do with maturity
This post has nothing to do with maturity and everything to do with immaturity:Cut a story short 2 vwfs payments each month over £700 is becoming a bit annoying just gathering some possible options.
You made the decision to enter the agreements. No-one held a gun to your head to make you sign yourself up to payments of £700 a month. Take some responsibility for your own free decisions.
Educate yourself on what the financial agreements mean and what is likely to happen in certain circumstances. Then make a decision based on that.
You are 21 now. If you simply walk away from it at this stage, VWFS will come after you for the money. They will apply for and attain a County Court Judgement against you. This will put you in a very difficult position for credit for 6 years, and then you will still have problems because of your lack of credit.
You meet the partner of your dreams and want to move in together. Problem: You can't get a mortgage, and decent landlords won't rent to you because of a poor credit score as found via an agency doing a credit check on you.
Believe me, I've been there. I had difficulties paying university fees for postgraduate studies, and the CCJ I got meant I couldn't get any credit until I was 29. Then I had a blank credit history, which at that age has lenders wondering why I had no credit - one assumption might be previous credit history issues. Which left me at the mercy of Capital One's basic card with its 30% APR. I wouldn't have got a mortgage if I tried.
Think very carefully about your next step. Study car deals. Get wise. You need to get this deal at least to its VT stage, and even that can affect your credit history. Having said that on PCPs the VT stage can be only a few months before the end of the term, and might be just as well to take it to the end of the PCP period and hand the car back.0 -
There was nothing said that the pcp could not be met each month, the dream lady is in my life and holding a mortgage already thanks for your input.
Well all sounds fine and dandy then, what are you complaining about.
The solution is to use this experience as a moderately expensive lesson, read up on what you are financially committing to and assess whether you can afford things in your current situation but also if something changes.
It ain't rocket science.0
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