Car Hire Purchase Early settlement Query

ljs_1985

Hi there, I have a car on one of the 4 year PCP deals which i am just over 2 years into. I want to buy the car and have received a settlement figure of £12,500 but i've been told by a few people that i can try and haggle on the cost so i was just wondering 1) is that true and 2) If so, what's the best approach? 

I would have though that it was non negotiable as i signed a contract but if i'm wrong then great.

Any help appreciated

Thanks

[Deleted User]

No.  They have the car as security so can just take that off you and invoice you for any difference.

DrEskimo

I suspect they are confusing it with haggling on the final payment (the GFV) once you have run the full term. I have heard of people doing this if the value of the car is substantially lower than the GFV, but it's not common from what I've read. 

I can't see how it would be possible for you haggle on the settlement. Unlike the end of the contract where you can hand the car back, if you decide not to settle then you just keep paying as normal. There is no incentive for them to haggle. 

The amount you save in interest is worth settling now though.