We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

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…

Options

Comments

molerat Posts: 34,603 Forumite

18 January 2017 at 6:17PM

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.

0

This discussion has been closed.

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

British Airways passenger? Book and travel using your old Covid vouchers NOW – or lose them
If you had a British Airways (BA) flight or holiday disrupted by the Covid-19 pandemic, check if you've got an old voucher as millions of pounds' worth are still unclaimed. You'll need to use it to travel before the end of September 2025 – or risk losing it. Below we explain how to search for unused vouchers and how to use them.

View All

Negative Equity PCP Trade-in

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free