Part X-ing a PCP car HELP

loskie

why didnt you just hand the car back to Fiat and buy a car with no trade in? It would have made the deal more transparent for you and given the dealer less chance to hide the real costs.

bazzyb

Ed26 wrote: »

Arnold clarks part ex is about 300 pounds less than the baloon payment requested by fiat!! Does this mean ill have to pay the 300 difference??

No - from what I have understood from your posts then you will need to pay substantially more than that as the balloon payment hasn't been taken into account at all.

Do you have a full breakdown of figures? Is the finance settlement (balloon) figure shown in that breakdown?

If you are being offered less than the balloon payment for your part exchange then, so long as the car is in reasonable condition and below the agreed mileage, then the best option will be to hand your car back rather than trade it in.

wastedtalent

bazzyb wrote: »

No - from what I have understood from your posts then you will need to pay substantially more than that as the balloon payment hasn't been taken into account at all.

Do you have a full breakdown of figures? Is the finance settlement (balloon) figure shown in that breakdown?

If you are being offered less than the balloon payment for your part exchange then, so long as the car is in reasonable condition and below the agreed mileage, then the best option will be to hand your car back rather than trade it in.

I agree, it does rather sound like they've deducted the value of your car from the value of the new one, meaning you'll still need ot pay the baloon payment on the Fiat.

That's how I read it anyway.