PCP Final settlement figure

Lmac1

Hi all

I'm almost at the end of my pcp, I've decided id like to buy it. The final settlement figure is about 2k more than id like to pay. Do you think dealers (Audi finance) would accept a full and final settlement figure of 12k rather than 14k.

AdrianC

No. You contracted to pay that balloon (if you bought) when you took the PCP deal out. The other option is to hand the car back.

Remember, the balloon is worked out based on the purchase price plus interest minus what you've paid so far.

neilmcl

Lmac1 wrote: »

Hi all

I'm almost at the end of my pcp, I've decided id like to buy it. The final settlement figure is about 2k more than id like to pay. Do you think dealers (Audi finance) would accept a full and final settlement figure of 12k rather than 14k.

Audi Finance is nothing to do with the dealership. All they're concerned is with you fulfilling your financial obligations as laid out in your agreement. So no, you can't negotiate the balloon payment.

parking_question_chap

Its worth asking. Perhaps you will end up meeting somewhere near the middle.

TadleyBaggie

parking_question_chap wrote: »

Its worth asking. Perhaps you will end up meeting somewhere near the middle.

It's never going to happen, finance companies are only likely to entertain a F&F offer if the account had defaulted. In the case of defaulting on on a car purchase, the first thing they would do is reposess the vehicle.

foxy-stoat

Lmac1 wrote: »

I'm almost at the end of my pcp, I've decided id like to buy it. The final settlement figure is about 2k more than id like to pay. Do you think dealers (Audi finance) would accept a full and final settlement figure of 12k rather than 14k.

No - why would they give you £2,000 off for no reason apart from you would like to pay less for it....why stop at £2,000 - why not offer £10,000, or £9,000 or £8,000 as you would like to pay a smaller amount as possible.

Penelopa.Pitstop

It's could be possible to buy your car from BCA at lower price. I read about it on Pistonheads. Talk to them when arranging return. Or just wait and see where your car shows up and buy it then, it might be cheaper than Audi (VWFS) offered price. That's of course, if you don't need a car on daily basis and can live without it.

neilmcl

parking_question_chap wrote: »

Its worth asking. Perhaps you will end up meeting somewhere near the middle.

No, not really.

LandyAndy

parking_question_chap wrote: »

Its worth asking. Perhaps you will end up meeting somewhere near the middle.

No it isn't. A PCP is a type of HP agreement. If it was a traditional HP agreement do you think the OP should ask to be let off the last 6 payments?