Part exchanging my current car for a car on PCH

Andy_33

Hello

I am just wondering if it's possible to part exchange my current car for a car on a PCH contract. My current car has no outstanding finance on it but did take out a loan for it which I am still paying on.

Please could you advise?

Kind regards 

Andrew Jones 

MyRealNameToo

Andy_33 said:

I am just wondering if it's possible to part exchange my current car for a car on a PCH contract. My current car has no outstanding finance on it but did take out a loan for it which I am still paying on.

Please could you advise?

EDIT - deleted as totally misread

Generally not best to put your full real name on online forums. 

DrEskimo

MyRealNameToo said:

Andy_33 said:

I am just wondering if it's possible to part exchange my current car for a car on a PCH contract. My current car has no outstanding finance on it but did take out a loan for it which I am still paying on.

Please could you advise?

PCP works like any other finance, you pay a deposit be that cash or a car trade in and put the rest of the car on finance. If they will offer you the best price for a trade in -v- a car buying website is a seperate question. 

A Personal Loan isnt secured against a vehicle so its only impact will be on their decisions on if you can afford the PCP on top of your current commitments. 

Generally not best to put your full real name on online forums. 

I suspect the OP is referring to personal contract hire (PCH), so leasing, rather than PCP finance. 

OP, the loan isn’t secured in the car so you are better off selling the car either privately to maximise the value, or just taking it to any local garage dealer who will give you a decent price. You can straight sell a car to a trader without buying another car from them. 

Also take a look at online brokers like CarWow, webuyanycar and motorway to see what price they will give you. 

Then just use the sale money to settle the outstanding loan.