End of pcp/lease anyone tried this?

S32B · Sep 16, 2019

Just been talking to a guy who deals with all the VW range of cars, I told him that mine will be getting handed back as the GFV will probably be more than what it's worth at the time, which is a shame as it's a nice car with ultra low miles on it.

He said that all Seat, VW, Audi, Skoda etc. range go to the same place at the end of the lease where they get prepared/photographed etc ready for sale, they they get advertised on a big trade website where people look at/buy them, they then get sent to that buyer....all this moving around, preparing, advertising etc costs them a lot of money!

So he said, when your deal is nearing the end don't worry about the GFV price, just phone them up and say that your px/selling quotes are coming in at less than what is owed on the car and ask them how much will you drop the final figure buy if I buy/keep it?

In theory it makes sense, as it's no hassle to them and probably cheaper for them to let you have it at a lower cost.

So has anyone tried it???

AlS3BE · Sep 16, 2019

I said that to Mercedes and the guy said you are contracted to pay gfv to keep it or hand it back which are the contracted terms. No other option other than VT if you are past half way.
It does make sense if they sold me the car for cheap but then who sets the prices. Identical cars go for different amounts between dealers.
Even the merc dealer said it’s cheaper for them to buy my car from the auctions than taking it in as a trade in.

cuke2u · Sep 16, 2019

I doubt if Audi finance will negotiate the final payment at all...

MikeParkin · Sep 16, 2019

I asked a similar question when I paid mine off. I actually got a letter stating that the final payment was lower than what my finance paperwork said. It wasn’t a lot but when I tried to argue with them they were having none of it. I’d be very surprised if they did the above.

NevMan · Sep 16, 2019

cuke2u said:
I doubt if Audi finance will negotiate the final payment at all...

Only time I have managed to get lower settlement was when buying another Audi.

Have you looked at used prices, as surely you could sell for more privately, or is the GFV just too high?

Sandra · Sep 16, 2019

S32B said:
Just been talking to a guy who deals with all the VW range of cars, I told him that mine will be getting handed back as the GFV will probably be more than what it's worth at the time, which is a shame as it's a nice car with ultra low miles on it.

He said that all Seat, VW, Audi, Skoda etc. range go to the same place at the end of the lease where they get prepared/photographed etc ready for sale, they they get advertised on a big trade website where people look at/buy them, they then get sent to that buyer....all this moving around, preparing, advertising etc costs them a lot of money!

So he said, when your deal is nearing the end don't worry about the GFV price, just phone them up and say that your px/selling quotes are coming in at less than what is owed on the car and ask them how much will you drop the final figure buy if I buy/keep it?

In theory it makes sense, as it's no hassle to them and probably cheaper for them to let you have it at a lower cost.

So has anyone tried it???

Have you tried to get a price privately Steve. We have site sponsor who buys and sells cars. Link below

https://www.prestigeperformanceyorkshire.co.uk/sell-your-audi/

S32B · Sep 16, 2019

X3man said:
Only time I have managed to get lower settlement was when buying another Audi.

Have you looked at used prices, as surely you could sell for more privately, or is the GFV just too high?

I probably could get what I owe privately maybe a tad more now, but don't fancy doing the private way tbh...never know who is at the door!

Sandra said:
Have you tried to get a price privately Steve. We have site sponsor who buys and sells cars. Link below

https://www.prestigeperformanceyorkshire.co.uk/sell-your-audi/

Yes tried him Sandra, good price tbh but still £800 below what I owe, not going to pay to get rid of a car if I can just hand it back for nothing at the end

Service is booked in now (indi £198 vs Audi's £421) so I'll keep hold of it for a bit longer and see how things go.

Daz4311 · Sep 16, 2019

You really want shut that bad buddy

S32B · Sep 16, 2019

Daz4311 said:
You really want shut that bad buddy

No not in that much of a rush, I've been thinking of downsizing for a few months as 6,000 mile in 24 months says it all! I did a lot more than that in under 12 months in the S3. But after a good look around at cars I'd be willing to step down to, downsizing isn't saving that much tbh...just looking at options and the best way forward.

We used to go right up to the NW Scotland walking a few times a year, so that was adding miles on the clock (over 2,000 in a week sometimes) and that's why I got the A5, big comfy cruiser for long distance, but my wife damaged her leg and has trouble walking far now, so since last year we've been going abroad chilling rather than walking in Scotland, for 5 holidays the car has just sat here, we were due to go again this week but couldn't find anything that suited....it's lot of money just to sit on the drive and take me to work/back. At weekend it's lifts with friends or a taxi, can only get 3 people in the A5 as I'm over 6ft so have the seat right back and there isn't a middle seat!!!

I wish I could just make do with an old banger at times, cheap, no worries about where you park etc.

MikeParkin · Sep 16, 2019

Nothing beats a good old banger!

Daz4311 · Sep 16, 2019

S32B said:
No not in that much of a rush, I've been thinking of downsizing for a few months as 6,000 mile in 24 months says it all! I did a lot more than that in under 12 months in the S3. But after a good look around at cars I'd be willing to step down to, downsizing isn't saving that much tbh...just looking at options and the best way forward.

We used to go right up to the NW Scotland walking a few times a year, so that was adding miles on the clock (over 2,000 in a week sometimes) and that's why I got the A5, big comfy cruiser for long distance, but my wife damaged her leg and has trouble walking far now, so since last year we've been going abroad chilling rather than walking in Scotland, for 5 holidays the car has just sat here, we were due to go again this week but couldn't find anything that suited....it's lot of money just to sit on the drive and take me to work/back. At weekend it's lifts with friends or a taxi, can only get 3 people in the A5 as I'm over 6ft so have the seat right back and there isn't a middle seat!!!

I wish I could just make do with an old banger at times, cheap, no worries about where you park etc.

Im the same,been thinking about what to get next,but as mine has only done 6000 miles in nearly 3 years,ive got 1 more year on my pcp,im at the moment thinking really about just keeping my s3 long term,nothing out there i really fancy,and i still absolutely love the s3

S32B · Sep 17, 2019

Daz4311 said:
Im the same,been thinking about what to get next,but as mine has only done 6000 miles in nearly 3 years,ive got 1 more year on my pcp,im at the moment thinking really about just keeping my s3 long term,nothing out there i really fancy,and i still absolutely love the s3

lol thought I did low miles

Evil Derboy · Sep 17, 2019

A fried of mine has just reached the end of their agreement on an Audi and Audi Financial Services has written to them to say that they now no longer own the car and that it is the property of BCA who will come inspect it and take it away. In my experience BCA or Mannheim have been contracted to do to the inspection and delivery and the car goes to auction (my experience relates to leases in the past rather than PCPs in the past) but this is the first time I've heard of AFS actually selling the car to BCA. If that is the case, it negates any advantage you might have in trying to haggle on the final purchase price, as if AFS already have a buyer and an agreed price with BCA there's no motivation to sell it to you instead at a lower price point.

I would imagine based on volume, that BCA price is low enough for them to make a decent margin at a trade auction.

GSB · Oct 19, 2019

My letter from Audi Financial services reads rather differently.
Essentially there are three options;

1) do nothing, and the final payment of the GFV will go by direct debit on the 31st of this month. Finance is then complete and the car is mine.
2) part ex against a new Audi, by visiting your nearest Audi showroom.
3) hand the car back, in which case I need to let them know that’s what I intend to do.

Theres also option 4). The GFV on mine was significantly less than I could get by selling it, so I paid off the finance and did exactly that.

There are no terms under my pcp agreement that would lead to the scenario noted in the post above, short of failing to pay.

cuke2u · Oct 19, 2019

GSB · Oct 19, 2019

This is the final one;

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End of pcp/lease anyone tried this?

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