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  • FIRST POST
    • HayleyAllan
    • By HayleyAllan 9th May 18, 1:18 PM
    • 1Posts
    • 0Thanks
    HayleyAllan
    Car finance end of PCP options
    • #1
    • 9th May 18, 1:18 PM
    Car finance end of PCP options 9th May 18 at 1:18 PM
    I知 coming to the end of my PCP contract for Evans Halshaw for my Ford Fiesta.
    I am in positive equity, with my final optional payment being around 」6000. However EH have only valued my car at 」6500, even though other companies have valued it much closer to 」8000.
    I am wanting to move to a Mercedes A class anyway, and was wondering if I could give my car to, for example a Mercedes dealership, and use the 」2000 difference between my final payment and the value of the car as a deposit with them?

    I知 not sure if this makes sense, I値l be happy to ellaborate if someone thinks they might understand my query!

    Thanks in advance!
Page 1
    • Oakdene
    • By Oakdene 9th May 18, 1:20 PM
    • 2,348 Posts
    • 8,538 Thanks
    Oakdene
    • #2
    • 9th May 18, 1:20 PM
    • #2
    • 9th May 18, 1:20 PM
    Go to a Mercedes dealership & ask them what they will give you for it. They will work everything out & settle your finance (should you choose to go ahead) with the positive balance forming all,or part, of your deposit.
    Dwy galon, un dyhead,
    Dwy dafod ond un iaith,
    Dwy raff yn cydio地 ddolen,
    Dau enaid ond un taith.


    • verityboo
    • By verityboo 9th May 18, 2:39 PM
    • 933 Posts
    • 1,157 Thanks
    verityboo
    • #3
    • 9th May 18, 2:39 PM
    • #3
    • 9th May 18, 2:39 PM
    Yes, any difference can be used towards the deposit

    Be careful though that you are getting a good deal. If you walk into the Mercedes dealership giving the impression you want a good part exchange value and they give you more than Ford, just check what discount they are giving you in addition. Check on Broadspeed etc what sort of discounts are available. Whats important is the price to change and don't focus on just one aspect of the deal
    • neilmcl
    • By neilmcl 9th May 18, 2:43 PM
    • 11,246 Posts
    • 8,052 Thanks
    neilmcl
    • #4
    • 9th May 18, 2:43 PM
    • #4
    • 9th May 18, 2:43 PM
    I知 coming to the end of my PCP contract for Evans Halshaw for my Ford Fiesta.
    I am in positive equity, with my final optional payment being around 」6000. However EH have only valued my car at 」6500, even though other companies have valued it much closer to 」8000.
    I am wanting to move to a Mercedes A class anyway, and was wondering if I could give my car to, for example a Mercedes dealership, and use the 」2000 difference between my final payment and the value of the car as a deposit with them?

    I知 not sure if this makes sense, I値l be happy to ellaborate if someone thinks they might understand my query!

    Thanks in advance!
    Originally posted by HayleyAllan
    Who has valued at this much? I'd be surprised after they had a look it the final calculations don't actually come back similar.
    • almillar
    • By almillar 10th May 18, 1:05 PM
    • 7,407 Posts
    • 3,013 Thanks
    almillar
    • #5
    • 10th May 18, 1:05 PM
    • #5
    • 10th May 18, 1:05 PM
    However EH have only valued my car at 」6500, even though other companies have valued it much closer to 」8000.
    Your car doesn't have one single value. In this case, it looks like EH want to give you less for it than other companies. Maybe Merc will give you 」8,000 for it. But remember that whatever this number turns out to be, it's only half the equation. Would you rather get 」2,000 more for your old car, or a discount of 」2,000 off the new one? Hint - it's the same thing. Get a good price for your next car of choice to arm yourself with, so you know if you're getting a good deal on BOTH cars, from carWow or similar - you provide details on the website of the car you want, and Merc dealerships will send offers - you can compare nationwide without leaving your house.
    • loskie
    • By loskie 10th May 18, 1:09 PM
    • 1,312 Posts
    • 776 Thanks
    loskie
    • #6
    • 10th May 18, 1:09 PM
    • #6
    • 10th May 18, 1:09 PM
    Best option "sell" it to those offering 」8k and then with no trade in. then you get a transparent deal with none of the confusion salesmen will try to add.
    • missile
    • By missile 10th May 18, 1:24 PM
    • 9,534 Posts
    • 4,752 Thanks
    missile
    • #7
    • 10th May 18, 1:24 PM
    • #7
    • 10th May 18, 1:24 PM
    Check WBAC for a realistic valuation
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home
    • motorguy
    • By motorguy 10th May 18, 1:34 PM
    • 16,959 Posts
    • 10,091 Thanks
    motorguy
    • #8
    • 10th May 18, 1:34 PM
    • #8
    • 10th May 18, 1:34 PM
    I知 coming to the end of my PCP contract for Evans Halshaw for my Ford Fiesta.
    I am in positive equity, with my final optional payment being around 」6000. However EH have only valued my car at 」6500, even though other companies have valued it much closer to 」8000.
    I am wanting to move to a Mercedes A class anyway, and was wondering if I could give my car to, for example a Mercedes dealership, and use the 」2000 difference between my final payment and the value of the car as a deposit with them?

    I知 not sure if this makes sense, I値l be happy to ellaborate if someone thinks they might understand my query!

    Thanks in advance!
    Originally posted by HayleyAllan
    Sometimes dealers use "discount" off the new car to prop up the value of yours.

    Ask those dealers who are bidding 」8K for your car if they will buy it for that for stock. Some will be interested, some wont, but you will get REAL figures then not massaged ones.

    Ring local dealers who sell similar cars and ask to speak to their car buyer and see what he says. Likewise try the online valuation sites.

    Personally i split changing my car in to three separate parts -

    The price i can get the new car for
    The price i can get for my car
    The cheapest i can get the loan for (APR) if required.
    "We have normality. I repeat, we have normality. Anything you still can't cope with is therefore your own problem."
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