Can i trade my PCP car at another dealers?

Twamas92

Hi,

I am coming to the end of my PCP deal (2 months to go to be precise) and i of course have my balloon payment to pay and i am also in negative equity by about 1000...i have seen a older used car on my dealers website that i can get and afford on hire purchase which would pay off the new car and also what i owe on my old car and this would take about 4 years....what i want to know is can i go to another dealers and trade in my PCP car as i have seen the older car that i want that is the same age, similar mileage for about £1000 cheaper and i can therefore pay off what i owe quicker....but is it even an option?
Or are there any other options out there for me?
I have been reading all the threads on this subject but all just a slightly different situation to this....

Anyway thanks in advance

Lucky_Duck_2

Yes, but if the car worth less than the GFV then I'd hand the car back at the end of the PCP contract and restart from scratch rather than carrying the negative equity into your next purchase.

jimbo747

Lucky_Duck wrote: »

Yes, but if the car worth less than the GFV then I'd hand the car back at the end of the PCP contract and restart from scratch rather than carrying the negative equity into your next purchase.

Or even a VT if the monthly payments are now higher than the depreciation (and currently worth around the GFV).

Twamas92

Yeah that sounds like a better idea. I am close to going over my mileage, can i hand it over early or should i ring them and ask them to extend my mileage?