VT on a car

anna_1977

motorguy wrote: »

Do you not need a car any more?

Trading it in / selling it on could well work out cheaper overall than paying the excess miles bill...

Yes that is an option, I have had a quote from a garage to trade it in and they will swallow the excess - I need to sit down and look at figures tonight I think

DrEskimo

motorguy wrote: »

Do you not need a car any more?

Trading it in / selling it on could well work out cheaper overall than paying the excess miles bill...

This....

Try and sell privately and minimise your loss. Look at WBAC, Evans Halshaw, local garage that will do it under a sale or return, and websites like Tootle. If the trade value isn't much less than private sale, but better than dealer P/X then that might be the best option for you.

motorguy

anna_1977 wrote: »

Yes that is an option, I have had a quote from a garage to trade it in and they will swallow the excess - I need to sit down and look at figures tonight I think

The reality is you simply owe more than your car is worth, so you're upside down in the deal.

Options are to pay the difference to wipe the slate clean or roll it in to the new car deal in some way.

The dealer wont be swallowing the excess / difference, they'll be manipulating the figures to cover it but you'll ultimately end up paying it.

Not wholly a problem per se, but dont let them pretend they're doing you a favour.

DrEskimo

anna_1977 wrote: »

Yes that is an option, I have had a quote from a garage to trade it in and they will swallow the excess - I need to sit down and look at figures tonight I think

They probably aren't, they are likely just reducing the discount you can get on the other car.

Always keep the sale of your current car and the purchase of another car separate. Look to maximise the sale of your car and get the best price for the car you are buying.

Do your research and look at prices of the car you are buying online. The variation can be, and often is massive.