Short term extension on a car PCP 16 February at 7:28PM edited 17 February at 10:24AM in Motoring 5 replies 181 views

Rob1878

I bought a car from VW finance on a PCP agreement in 2019, this PCP finishes in March 2023.  Six months ago I ordered a new car from a company called Contract Cars to be delivered for March 2023.  This week I received an email from Contract Cars stating my new car was delayed by about a month.  I want to try and arrange a short extension to my PCP, so far I have contacted VW finance, my old car supplier, my new car supplier and Contract Cars, all on multiple occasions but so far no one is able to give me a definitive answer as to how I do this, I just keep getting passed around from pillar to post.

Has anyone else been in a situation like this and what was the solution?  TIA.

born_again

Would be better in motoring section.

But finance co are the ones who should be dealing. As they who will have to agree.

Rob1878

apologies, can this be moved by a mod please?

Grumpy_chap

Does the new car from Contract Cars require the current VW as a trade in?

If not, and if VW Finance are not agreeable to sensible extension, you may be able to look at a long-term hire as an interim.

Rob1878

Grumpy_chap said:

Does the new car from Contract Cars require the current VW as a trade in?

If not, and if VW Finance are not agreeable to sensible extension, you may be able to look at a long-term hire as an interim.

No it doesn't, the new car is a VW and the finance company is VW Finance again, should br straight forward I would have thought but apparently not.

DrEskimo

One option is if you have the capital or can borrow the money on an unsecured loan, then settle the PCP and keep the car for as long as you need it. Then simply trade the car in to the highest bidder when your new car arrives and replenish your savings or settle the loan.

Are you looking to trade the car in or hand the car back to the finance company give you won't be looking to part exchange. Always worth making sure the car is worth more than the finance companies GFV before you consider handing back to finance (if you were).