PCP - When and how to cancel/trade in again ?

IAMIAM

I have taken out a 48 month PCP and have been told the sweet spot to change it is 6 months before it expires to maximise the trade in value. Is this correct?

Also, has anyone any experience of returning a car after paying the 50% limit on the total cost (think its called voluntary redemption - the one that doesnt impact your credit file)

In either case, what is the impact with excess mileage charging - or does this only impact when I am returning the car to the finance company? As I presume if I am trading it in or selling it, the finance company mileage charging is irrelevant 

Frozen_up_north

You can ask for a settlement figure at anytime, basically it’s the amount to settle the debt you owe the finance company.

Clearly at the end of the term you can hand over the keys and walk away with nothing, assuming you don’t owe an excess mileage or damage repair bill.

If you want to continue with another PCP, the manufacturer/dealer will offer a “deposit contribution” for you to start another finance deal.

There is a lot of smoke and mirrors involved, as you probably know from taking a PCP.
I bought a new car last November, the advertised price was just over £31,000, there was then a discount of £4,000 and a further loyalty discount of £750… and that was on a cash purchase (well a bank transfer purchase). Contributions towards finance are nothing more than a discount you can obtain by shopping around and buying outright.

You need to talk to the dealership as they will be keen to keep you as a customer.