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Negative Equity PCP Trade-in

doomfreak777 · 2017-01-17 20:42:06

Hi everyone, Looking for some help and advice about the following: I have a vehicle on 3 year PCP, due to end later this year. Balloon Payment / Final value is around £7k Current value of the vehicle is about £5k and it seems the final value has been somewhat over-estimated. Financed for 10k miles a year, so 30k total and…

Comments

molerat Posts: 35,774 Forumite

18 January 2017 at 5:17PM

If you trade in the dealer gives the car a trade in value based on its condition and mileage. They then settle the finance for whatever the settlement figure is so your new deal is based on cost of new car + cost of settling finance - trade in value of old car.

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