New car finance before old car sold

aaz01

I have a car on PCP at the moment, and would like to replace it with another one of similar value. I'm only a few months into a 3 year agreement currently although I'm in positive equity.

I haven't decided if I'll sell privately or trade-in yet.

If I ask a dealership for a new PCP for a new car... Can they put a note on the finance application that it's subject to my old car being sold (or traded in at the same time)?

Or might the finance company say I'm taking on too much debt by financing two cars at the same time?

If finance on the new one is OK'd - I would not go ahead with the purchase until my old car is sold (or I'd trade it in)

bengalknights

As its a PCP they may be willing to take the car off you as deposit just to push through the sale (paying off the finance)

However i dont think they would put the note on

foxy-stoat

aaz01 wrote: »

I'm only a few months into a 3 year agreement currently although I'm in positive equity.

You would be one of the first people who are.

Whats your settlement figure and how much is the car currently worth on a trade in?

chanz4

Sorry but your never in positive, the cars are normaly only worth the value of them after the 3 or 4 year pcp