Changing car on finance

lewishardwick

Evening all,

I currently have Citroen DS3 DSport, it is being paid via PSA (Citroen/Peugeot Financial Services) on an HP plan. As far as I'm aware, the finance is secure on the car.

So, I'm actually looking for something a little more economical, less expensive to tax/insure and a little smoother over the bumps!

Has anyone ever switched a car on a finance product before? One would assume if I go back to Citroen (I've eyed up the C4) it might be easier. I guess worst case is pay off finance and trade in/sell privately.

I'm probably answering my own question, but if anyone has had any experience of this type of thing, experiences would be much appreciated.

Thank you!

DUTR

Spending to save never seems logical, my current car is somewhat lower running costs than the previous one, however the cost to change was £1000s.

Lucky_Duck_2

Happens all the time, however as pointed out above the cost in changing may well wipe out any savings on fuel, tax, etc.

System

Lucky_Duck wrote: »

Happens all the time, however as pointed out above the cost in changing may well wipe out any savings on fuel, tax, etc.

I have a diesel Mondeo and a petrol Mazda MX5. Mondeo does 55MPG, the MX5 does 37MPG. 300 miles a week commute works out at £29 a week for the Mondeo, £43 for the Mazda so a difference of £14 a week or £728 for 15,600 miles a year.

You will most certainly lose far more than that doing the swap whether it is what you've lost on the finance on the existing car or what you'll lose in higher depreciation on the new one.