Best way to sell this car please ( on PCP finance)

wiltsguy_2

some garages also offer a scheme where they will sell your for you. ie they put it on their forecourt, sell your car(either cash or through their finance company), then when sold clear your finance and give you the remainder/ask for the shortfall, but while it is on their forecourt your friend still has to keep up the payments until sold and could take a few weeks, the dealer will charge for this, my mate done it and it cost a grand, but garages can sell for more than a private sale.

as said, she needs to find out how much it will cost to settle the agreement, valuing the car is easy, then can work out if it has positive or negative equity.

As you can see there are many options, more so if the car has positive equity..

adzy77

[FONT=&quot]I have purchased a car from a private seller in the past that still had finance tied to it. As mentioned above, its very simple. When I went to pick up the car and pay for it, the seller called his finance company and advised that I was with him and I was going to be using my card to pay of the remainder, he then passed me the phone and after I checked that I was speaking to the right people, I paid the remaining balance off. They emailed a letter through to both myself and the seller instantly stating that the debt had been settled and nothing was outstanding.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]At that point, I paid the remaining cash balance, took the keys and went. Job done.[/FONT]

Foxy-Stoat_3

adzy77 wrote: »

[FONT=&quot]I have purchased a car from a private seller in the past that still had finance tied to it. As mentioned above, its very simple. When I went to pick up the car and pay for it, the seller called his finance company and advised that I was with him and I was going to be using my card to pay of the remainder, he then passed me the phone and after I checked that I was speaking to the right people, I paid the remaining balance off. They emailed a letter through to both myself and the seller instantly stating that the debt had been settled and nothing was outstanding.[/FONT]

[FONT=&quot]At that point, I paid the remaining cash balance, took the keys and went. Job done.[/FONT]

In an ideal world this is how is would happen, but I suspect that this PCP deal will have a balloon payment at the end so I doubt they have positive equity.

jandanjan

Thank you all - very helpful. I think as it has another two years running on it although it could and should be included in the divorce settlement its dragged on for so long now and he simply refuses to submit any documents etc it could go one for another two years while she's paying for this car and at the end of it as there is a balloon payment she cannot afford she will hand the keys back an have nothing to show while if she sells it now she can stop the monthly payments and have a cheap little runaround for now and save the payment per month etc.


Really appreciate everyone's advice and will stick my toe in the water and see what a local Audi dealer will offer.

Foxy-Stoat_3

Find out the exit figure for the agreement also. If its in negitive equity then she wont be able to sell it to a dealer or private buyer unless she clears the shortfall.

almillar

I'm ignoring the divorce system options as I know nothing about them.
Get over to parkers.co.uk and find out a rough value for your car - the trade in value is what you'll be looking for. That's how much you should expect a dealer to give you for a car, when you buy one off them. Better valuations may be available, but I guess that's more than you've got for now.
Armed with that info, go to your closest two Audi dealers with the car (nice and clean inside and out, basically ready to hand over), and ask them for the price to hand it back.
As motorguy says, it's a new enough car that the dealer can turn it round internally and sell it. If they think they've got customers that will buy it, they'll give you a good price. If you get the trade in price above, and if it matches what you still owe, you'll be doing well. You may have to give them some money though to clear the finance.
Can you tell us what the car's worth, and how much you still owe, and give us figures?

jandanjan

Don't know what the value is as haven't yet looked at Parkers but finance needs £33K back and thank you for your reply

DUTR

jandanjan wrote: »

Don't know what the value is as haven't yet looked at Parkers but finance needs £33K back and thank you for your reply

When one takes a car in to trade the dealer needs to find someone to underwrite the purchase from the owner/registered keeper.
So if the car has a selling price of around £33k, why would a dealer want to stump up around that amount and have to offer warranty etc, so chances are they can take it but or probably more £19k.
Either way your 'friend' is going to be left with a shortfall to make up, nice as the car maybe and desirable to some, it's getting them to part with the monies on a private sale.

straighttalker

Op, your best bet would be ringing round and seeing if an Audi main dealer would want to buy it from you. It's a high spec car and still within warranty so it maybe an attractive proposition to them if they can shift it on.

I think you'd get bid more than £19k which the previous poster suggested. I had a quick look on Autotrader and it seems the cheapest is £34k going up to £40k for a 2014 reg. Maybe you might get lucky and get close to £30k. You won't know until you ring around.

motorguy

DUTR wrote: »

When one takes a car in to trade the dealer needs to find someone to underwrite the purchase from the owner/registered keeper.
So if the car has a selling price of around £33k, why would a dealer want to stump up around that amount and have to offer warranty etc, so chances are they can take it but or probably more £19k.
Either way your 'friend' is going to be left with a shortfall to make up, nice as the car maybe and desirable to some, it's getting them to part with the monies on a private sale.

Sorry but this is balls.

A dealer markup on a £33K car thats desireable and still under manufacturers warranty is probably £4-5K tops. They certainly wouldnt expect a markup of £14,000.

Also, the whole point in the O/P taking the car to an Audi dealer would be for them to retail it, so they wouldnt get it underwritten and shipped out.

You want to find a dealer who wants the car, not someone who is "doing you a favour by taking it off your hands"