pcp renewal

[Detailer dave]

Evening everyone

Just a quick question myself and wife are looking at changing our current a3 for a new one we are currently on a pcp with vwfs.
Has anyone ever been refused a new pcp or do they just roll over to a new one ie do they do another credit check.

Many thanks

 

[Foxtrot_Oscar]

They do a credit check on every application for a new PCP. Car finance is usually easier than most to get approved, but check your credit score etc. before applying to avoid any problems you think there may be.

 

[pburv]

Evening everyone

Just a quick question myself and wife are looking at changing our current a3 for a new one we are currently on a pcp with vwfs.
Has anyone ever been refused a new pcp or do they just roll over to a new one ie do they do another credit check.

Many thanks

Is the credit check an issue if you don,t mind me asking?
If not then it,s straight forward to get another pcp sorted.They just value your existing car and use this valuation to pay off what you owe on your existing finance..If valued more then use this amount as deposit on the new car..If less(negative equity) then pay the difference.
Apologies if you already know this...

 

[Jassyo06]

Is the credit check an issue if you don,t mind me asking?
If not then it,s straight forward to get another pcp sorted.They just value your existing car and use this valuation to pay off what you owe on your existing finance..If valued more then use this amount as deposit on the new car..If less(negative equity) then pay the difference.
Apologies if you already know this...

Correcto mundo mate....being a good existing customer....will have earned you big browny points...but they will still do a credit check all the same...my son sold 6 cars last month that got a knock back why.....the he didnt know...neither did the to be client....Audi/VW finance are very strict..............but as i said...you should'nt have any problems

 

[Detailer dave]

No credit check should bo no problem. We have never missed a payment just wondered that's all. Not sure if we will swap a3 or refinance gfv.

 

[Detailer dave]

Is the credit check an issue if you don,t mind me asking?
If not then it,s straight forward to get another pcp sorted.They just value your existing car and use this valuation to pay off what you owe on your existing finance..If valued more then use this amount as deposit on the new car..If less(negative equity) then pay the difference.
Apologies if you already know this...

No credit check should not be a problem as we have never missed a payment.

 

[pburv]

No credit check should not be a problem as we have never missed a payment.

As I am on a pcp deal I would be interested how you get on with changing your car whilst into your current deal.
Good luck with whatever you decide on and let us all know the outcome....Cheers Paul