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PCP car finance, help needed!
Hello,
I currently have a car on a pcp finance agreement, which i have had for less than a year. I want to get out of the agreement and get into a car with no monthly payment to reduce my outgoings. my question is, can I PX my current car on PCP in for an older used car at a dealership and just pay cash?
For instance the car i want is £5K, if I have £1K of negative equity, could I go to a dealer and pay a total of 6K, have them settle my current finance and drive away in the new car (now with no monthly payment)??
Thanks
Sam
I currently have a car on a pcp finance agreement, which i have had for less than a year. I want to get out of the agreement and get into a car with no monthly payment to reduce my outgoings. my question is, can I PX my current car on PCP in for an older used car at a dealership and just pay cash?
For instance the car i want is £5K, if I have £1K of negative equity, could I go to a dealer and pay a total of 6K, have them settle my current finance and drive away in the new car (now with no monthly payment)??
Thanks
Sam
0
Comments
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Yes, absolutely you can!0
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Yes as long as you’ve got £6k cash to pay.0
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What is the settlement figure for your current car ? What would a dealer offer you for that car - at the moment unless it is something special that they could shift fairly quickly it will likely be worth well below the settlement figure.
1
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