Returning PCP car early

pramsay13

I have a car on a 4 year PCP deal and we are 3 years into that.
Next month we are leaving the country so either looking to sell or hand back the car.
I can just hand the car back and assuming there is no damage or extra mileage (which there isn't) there won't be any more costs.
I can buy the car outright for £5,500 and then try and sell it privately.
I could possibly get £6000 from a private sale or £5,500 from one of these buy any car websites.
So is it best just to hand it back and save any hassle of trying to sell it or is there something I'm missing?

molerat

Are you actually past the 50% payment point ?
Is £5500 the settlement amount or the balloon payment ?

pramsay13

Yes we are past the 50% amount.
The £5,500 is the settlement amount.

molerat

Do you want the hassle of selling. As long as the car is in good condition you may as well just VT,Have you checked the industry guidance re damage ? https://www.drive-electric.co.uk/wp-content/uploads/2016/05/Fair_Wear_Tear.pdf

Svein_Forkbeard

pramsay13 wrote: »

Next month we are leaving the country

DO NOT buy it just VT it, you do not need the hassle which could and sods law dictates will follow should you buy it.

loskie

I tend to buy cars privately and if I see an ad stating emigration as the reason I tend to steer clear

nightshot99

Just VT it, did mine a couple of months ago, by far the easiest option, drop it off at the designated auction site and forget about it.