Audi pcp ending : what now?

empress29

My audi pcp arrangement is coming to an end, but I am unsure on what I can do next? I don't want another audi as they have become ridiculously overpriced - to get same identical car will cost £5k more from 2.5 years ago.

I went into dealership and they will offer me £11k for the car - but I don't want another Audi, I want something else. Can I go to another car dealership and trade the car in and maybe get a better price and they will deal with paying the balance on the Audi? I have no idea how these pcp agreements work and the dealership were only concerned in trying to sign me up to another deal!

sw67

The future value lump sum is what you owe. You can pay it and keep the car or just hand the car back. If you have equity due to the trade in value being higher you can go to any garage.

You might not get as good a trade in at a non Audi garage but you have nothing to lose having a look

KTF

At the end of a PCP deal you (typically) have 3 options:

1. Hand the keys back and walk away.
2. Pay the balloon payment and the car is yours.
3. Use the difference between the balloon payment and the actual real value of the car as deposit towards your next car i.e. sign up again.

Assuming yours is like the above and you say you dont want to do 3, then option 1 or 2 is left. If you wanted to trade it in at another garage you would have to pay the balloon payment then you are free to do as you like with the car.

rs65

You can trade it in at any time, in fact probably best to do so before your final payment is due and they start chasing you for it. Only do it if it is worth more than the final payment though. The new garage would pay the audi balance first and the remainder to you.

Remember, if you hand it back you would be liable for any damage greater than reasonable wear and tear and any excess mileage above what was agreed at the start. Trading it in means you don't have any of these worries although it will be valued based on its current condition.

Kilty_2

You can trade it in anywhere you like - the dealer just pays the finance off and then uses the remainder for your next deposit.