pcp finance

Michael1694

I currently have a Kia Niro on a PCP and I have ordered a new Kia Sportage. it was due to be delivered later this month. The dealer has now told me that due to delays they are now not expecting delivery until September. My problem is I have a PCP deal that ends in June. I have contact KIA finance and they have told me they cannot extend my PCP due to FCA rules. what is my best plan of attack/action to get this sorted.
Any advice will be great

Thanks

Grumpy_chap

Michael1694 said:

I currently have a Kia Niro on a PCP and I have ordered a new Kia Sportage. it was due to be delivered later this month. The dealer has now told me that due to delays they are now not expecting delivery until September. My problem is I have a PCP deal that ends in June. I have contact KIA finance and they have told me they cannot extend my PCP due to FCA rules. what is my best plan of attack/action to get this sorted.
Any advice will be great

Thanks

Can you pay the balloon payment?

[Deleted User]

Find the value vs the balloon, via the likes of WBAC and see if you can sell it for more than the balloon and then do that?

sheslookinhot

Were both cars from the same dealer ?

shiraz99

Michael1694 said:

I currently have a Kia Niro on a PCP and I have ordered a new Kia Sportage. it was due to be delivered later this month. The dealer has now told me that due to delays they are now not expecting delivery until September. My problem is I have a PCP deal that ends in June. I have contact KIA finance and they have told me they cannot extend my PCP due to FCA rules. what is my best plan of attack/action to get this sorted.
Any advice will be great

Thanks

What FCA rules are these? I've twice now been able to extend a PCP, albeit for a few months due to delays in a replacement car, it's quite a common practice. Speak to the dealer and see what they say about it.

Michael1694

I don't know what rules the FCA have and they could not tell me. the dealer said its out of their hands.

Michael1694

sheslookinhot said:

Were both cars from the same dealer ?

yes both from the same dealer Changing  KIA for a KIA . Everything was agreed my car part ex for the new car. the garage said they still want my old car and will buy it but for less that the part ex value. so I would have to find extra for the deposit on the new one.

[Deleted User]

The problem might be used prices are dropping. I’ve seen prices on used cars drop significantly in the last few weeks. You might be better getting a loan and paying the ballon payment and canceling your order. 

Honey53

Always compare a PCP with a personal loan. Then make an informed choice. 

motorguy

Honey53 said:

Always compare a PCP with a personal loan. Then make an informed choice. 

Thanks for that, but i'm curious - why bring up a 4 month old thread?

And answer a question that wasnt asked?