how to sell a car that has PCP finance?

Adam_Fox wrote: »

I've looked into selling on Autotrader

https://www.autotrader.co.uk/sell-my-car/advice/how-can-i-sell-a-car-with-outstanding-finance

How much has the Mercedes dealer offered you for the vehicle? Have you asked them? You don't have to be part-exchanging to sell back to the dealer. Don't expect miracles, but it might be better than webuyanycar and get you closer to clearing the finance.

The trouble with PCP balances is that the payments are structured such that the balance owing and the trade value of the car only coincide at the end of the term when all costs and depreciation have been covered. Just remember that your first few PCP payments will only be paying off interest and VAT/delivery costs (which are not actually part of the vehicle's value).

The biggest fly in the ointment really, though, is the fact you'd then have to drive an Audi - think of the yards and yards of dismal understeer, inert handling, and the abject shame as all other road users shun you as a total pariah.:) (I say this having owned 3 Audis in the past)

Adam_Fox wrote: »

hi,

I'm looking at getting an Audi A4 on a lease as the monthly work out a lot cheaper than my current A180 Sport on PCP finance. I have a settlement figure off £14,541.62 with Black Horse finance @ 6.9%APR However, we buy any car are only offering me £13,750
I believe the car is worth a lot more than this as its still showroom condition only done 10,800 miles within nearly two years with FSH.

I've looked into selling on Autotrader and the recommended start price of £16,560 which would more than cover the debt and would help with the contribution of the initial payment of my new lease agreement. Is this Legal to do? How do I inform the private seller it has outstanding finance? How do I make sure finance company gets the settlement figure and I get some form of equity out of the vehicle safely? What's the best option?

I also, have the dilemma of being pressured into applying for the finance of the lease by the end of tomorrow. I don't want to be in a position where I'm having to make two car payments. Also, I need a car if I sell it tomorrow or fast I will be without a car for two to three weeks and only being 20 years old renting a car is near impossible and ridiculously expensive.

Have any ideas?

Op, mothly running costs are you main concern hence the reason you want to change cars to a lower running one, can you not just keep going with the a180 untill you reach vt point and just give themthe carback and just buy a small used car

your 20 years old and you are already in nearly 15k's worth of debt just in a car and we dont know if you have any other debt such as cc's or loans etc... but the point im making is you need to stop doing this to your self keep getting in to debt for cars etc... at such a young this is not a road you want to carry on mate trust me if i had someone tell me off when i was younger i would not have wasted all the money i have over the years, i love cars i work on them day in day out but i would not get in to debt for one seeing payments come out evey month after ive worked so hard all month, them early morning starts them days when you dont feel like going in etc... the debt is not worth it it really is not and i do regret every pound i wasted on wants rather than needs, so im just trying to stop you making the same mistakes i did when i was your age and now regret them

house prices and the cost of living is going up but wages are still the same so start saving now and in a few years you will have the money for a house instead of wasting it on cars :money: and regret it.

ratrace wrote: »

your 20 years old .

Blimey. When I was 20 I was running around in a 14 year old Morris Marina that cost me £500 to buy outright. Now I'm 50 I'm driving a car that is coming up to its 20th birthday which I've owned for nearly 16 years,.

Now I know that the build quality and life expectancy of a car built today is much better than a BL car from the mid 1970s, so why does everyone need a new / nearly new car nowadays, especially those barely out of their teens?

True! You will cripple yourself, drain your account every month and for what? To drive round in another ten a penny black or white German finance mobile that everyone knows is on finance/leased and you can't afford to buy one outright.