PCP finance questions

applebite

Hi everyone, I'm looking into finance options and just have a couple of questions, hope they make sense and are not too stupid!

If you choose to trade in the car at the end of the PCP contract, does it need to be to the same dealer? So if I got a Mini would I need to trade it in for another Mini or could I go to say Volkswagen?

One dealer told me that if you trade the car back in that they do not charge for excess mileage. Is that the case for all PCP contracts or does it differ from dealer to dealer?

Thanks

rs65

You can trade the car in to any dealer and you don't have to wait until the end of the PCP deal.

I've done it twice and haven't had to pay excess mileage, although the mileage at the time obviously affects the trade in value.

applebite

Thanks for your reply. So if you don't wait till the end of the deal does it work the same way as HP as in you pay the difference between what you still have left to pay? Also if you trade or buy it do you still have to pay for any damage? Ive heard they go over the cars with a fine tooth comb?