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PCP and trading in.
majorlance
Posts: 3 Newbie
in Motoring
Hi all
If I go for purchasing \ leasing a car via a PCP contract. Would my existing car have to be sold buy me privately or would the garage take it in some sort of trade in ? I can't see how that might work but would prefer that rather than having to sell it myself ?
Thanks in advance for any information.
majorlance
If I go for purchasing \ leasing a car via a PCP contract. Would my existing car have to be sold buy me privately or would the garage take it in some sort of trade in ? I can't see how that might work but would prefer that rather than having to sell it myself ?
Thanks in advance for any information.
majorlance
0
Comments
-
yes you can trade it in - if GMV is £3000 and you get £3500 from the dealer then they settle the existing finance and you have the other £500 as deposit. If the car is worth less than the GMV (and it is a guaranteed value, not a balloon isn't it?) then you just hand the car back to the finance co. and walk away, subject to mileage, condition, etc.0
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