Buying Car at End of Finance Agreement

ddavemac1981

Hi All,

Need a bit of advice. We have had a VW Polo for the past 4 years, and come to the end of our finance agreement in September. They have already started to call me, to try and get us signed up to another finance agreement. As we have both got jobs closer to home, we no longer use the car as much, so it has really low mileage, and we would like to buy the car. The balance at the end of the finance agreement will be about 5.5k.

In short, my question is whether or not it would be worth trying to haggle over the final figure, or try to get a service plan chucked in for free - will it just fall on deaf ears, and will I make myself look like a bit of a clown?

Thanks in advance.

lopsyfa

If you are on PCP, you will not be able to haggle the balloon price as it is in the contract.

Saying that, there is no harm in trying. Please report back here if succeed in reducing the price.

ddavemac1981

It is a PCP . . . . worth trying to get a service plan chucked in though?

neilmcl

Who are you intending to haggle with? The finance company are only interested in you paying of the final payment or handing the car back. It's not in their purview to offer you anything.

BoGoF

Yes, asking for a service plan from a finance company will make you look a bit of a clown.

System

ddavemac1981 wrote: »

It is a PCP . . . . worth trying to get a service plan chucked in though?

You're missing the point. Where you stand right now has absolutely nothing to do with the place that sold you the car. They've done their job, they've sold you the car and done any warranty work as required. They now have no interest or obligations at all to do with the car.

Where you are now is coming to the end of an agreement owing a financial institution £5.5k you agreed to repay at the end of that agreement. How you give them that money is up to you but all they're interested in is getting that £5.5k. There is no negotiation to be had, there is no service plan to be offered because they're a money lender, not a car dealership or garage. Your options will be given as pay the money or give the keys back.