PCP Early Termination!

Maco

Registered User
Hi everyone, haven’t posted for a while. Basically me & my partner are both bored of the A3, thinking of going to a new A3 saloon or even a Mercedes a250 saloon. I’ve checked our current situation & to settle the pcp it would be £14,158.91.

Going off Audi, Arnold Clark, Evan halshaw & we buy any cars online valuations it looks like the cars worth anywhere between £14,900-£15,500.

My question is, do dealers work the same way they do with HP finance? If the cars worth more than the PCP settlement will they buy the car settle the figure & give me the difference to use as a deposit on something new? Or is the only option to clear the settlement myself, own the car outright then sell it?
 

adey12

Registered User
hi i would be surprised if dealers would offer you more than the pcp settlement figure and would likely have negative equity, if they do offer you more then yes they would settle the finance , you can voluntary terminate the pcp if you have paid more than 50% of the agreement total ,look on your pcp agreement it should have a figure when this is possible ,and you just hand the car back, i have done this with an a3 a few years ago, and my last car i listed on wizzle.com and dealers bid for the car and i sold for the same value as the settlement figure and the dealer collecting the car settled the finance freeing me up to buy another car .
 

Adam14

Registered User
If you're part exing the car then if the P/X is more than the finance then yes they'd pay you the extra but I doubt that's the case (as it rarely is).

Sent from my HD1913 using Tapatalk
 

Maco

Registered User
Spoke to my local Audi garage tonight, they’ve got the car booked at £15,250 depending on condition. They are quite happy to do a deal & use the equity as a deposit on something new. Happy days
 

S32B

Registered User
Spoke to my local Audi garage tonight, they’ve got the car booked at £15,250 depending on condition. They are quite happy to do a deal & use the equity as a deposit on something new. Happy days
Good news, just don't let them use the old "We gave you more for the px, so we can't knock much off the new car". When I sold the S3 for the A5, Audi offered the lowest price from anyone!

Car sales are at an all-time low, that combined with being at the end of the 1st 1/4 = push them hard for discounts! I've done it for myself and family/friends, they will make next to nothing on the new car as long as they sell it, it's all about hitting their sales targets and getting the bonus for doing so. My sister got a Ford Fiesta a couple of years back, once the deal was done the sales guy told me "The only reason you got that deal was because we HAD to sell two cars this weekend to hit targets and get the dealership bonus".

What I do: Tell them to keep both deals separate in case I decide to sell my old car elsewhere. I did and got £1,500 more from a sports car specialist!
 

Bells

Registered User
Try advertising on Wizzle, guaranteed to get a much better price than Audi, loads of garages on there looking to buy cars. I got offered £2500 more for my S3 than the Audi dealer offered, that’s before any other negotiations.
 

JohnM100

Registered User
VCDS Map User
Gold Supporter
Good news, just don't let them use the old "We gave you more for the px, so we can't knock much off the new car". When I sold the S3 for the A5, Audi offered the lowest price from anyone!

Car sales are at an all-time low, that combined with being at the end of the 1st 1/4 = push them hard for discounts! I've done it for myself and family/friends, they will make next to nothing on the new car as long as they sell it, it's all about hitting their sales targets and getting the bonus for doing so. My sister got a Ford Fiesta a couple of years back, once the deal was done the sales guy told me "The only reason you got that deal was because we HAD to sell two cars this weekend to hit targets and get the dealership bonus".

What I do: Tell them to keep both deals separate in case I decide to sell my old car elsewhere. I did and got £1,500 more from a sports car specialist!

Good advice here.
I used to push for bigger discount on new car for lower trade in value (thinking I knew what I was talking about), but my last dealer offered nearly 1k less than WBAC for trade in and it’s difficult to make that difference back in a swap deal on top of discount. For my last 2 cars, I ended up separating the sale and purchase transactions. There is a YouTube channel from an Aussie ex salesman (forgot his name - sorry) who really opened my eyes.
 

Maco

Registered User
Hey guys, so I’ve gone to the dark side. Ended up getting a great deal on a brand new 21 plate Mercedes A220 AMG saloon executive edition. Executive pack gives you a 10inch touchscreen media panel instead of the 6/7inch screen, folding mirrors, front & rear parking sensors with rear camera & the wireless car changing pad. Might be a few other extras but can’t remember everything. List price was £34,650.00 but with the current merc deal got it for £26,786.00 & they give me the £15,250,00 that Audi offered. Low deposit & low monthly’s at the amount we wanted to pay so can’t complain.
 

S32B

Registered User
Hey guys, so I’ve gone to the dark side. Ended up getting a great deal on a brand new 21 plate Mercedes A220 AMG saloon executive edition. Executive pack gives you a 10inch touchscreen media panel instead of the 6/7inch screen, folding mirrors, front & rear parking sensors with rear camera & the wireless car changing pad. Might be a few other extras but can’t remember everything. List price was £34,650.00 but with the current merc deal got it for £26,786.00 & they give me the £15,250,00 that Audi offered. Low deposit & low monthly’s at the amount we wanted to pay so can’t complain.
Happy for you mate, I agree about going for the upgrade spec to get the 10" screen, it looks daft without it as the sides just finish in black like an old style TV with the big black edges! If you haven't already check out the service packs you can buy direct from the Merc website, well worth doing as they are expensive to service.
 

Maco

Registered User
Happy for you mate, I agree about going for the upgrade spec to get the 10" screen, it looks daft without it as the sides just finish in black like an old style TV with the big black edges! If you haven't already check out the service packs you can buy direct from the Merc website, well worth doing as they are expensive to service.

I have an Independent garage local to me mate, used them a few year back on my E250. At the time Merc wanted £650 for the service and the indie did it for £300. They could update the service history etc online with Mercedes portal so I kept my warranties.
 

S32B

Registered User
I have an Independent garage local to me mate, used them a few year back on my E250. At the time Merc wanted £650 for the service and the indie did it for £300. They could update the service history etc online with Mercedes portal so I kept my warranties.
OK mate but just for reference I found this:

merc.jpg
 
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