PCP Car

Kierann

Hey there, I purchased a car on PCP at the start of the year and recently received a job offer abroad. I'm assuming if I trade my car in I'll lose a lot off the value and probably owe them still. One of my family members is willing to take the car and payments off me, has anybody heard about transferring over a pcp contract to another owner before?

tonyh66

Don't think so, car is owned by finance company. Finance is person specific and will need settling. Finance company may consider selling to new individual but not before squeezing every £ out of existing owner.

motorguy

Kierann wrote: »

Hey there, I purchased a car on PCP at the start of the year and recently received a job offer abroad. I'm assuming if I trade my car in I'll lose a lot off the value and probably owe them still. One of my family members is willing to take the car and payments off me, has anybody heard about transferring over a pcp contract to another owner before?

Presumably you mean sell it back to the dealer, not trade it in?

No, you wont be able to just let someone take over the payments.

loskie

someone could in effect "take over the payments" if they took out a personal loan and paid off your PCP deal. But obviously that would include the balloon payment too.