Selling car on pcp

NevMan

Well known member
The moral of this tale is don't buy a car on PCP if you might want to change cars early.
sweeping statement, depends what deposit you put down. My Q5 bought new in March 2018, settlement is £30k, I could get £33k+ easily now, P/X or whatever.
 

NevMan

Well known member
If you're selling privately, you'll have to pay the car off first. I'd never trust the seller to pay off the finance with my money. So easy to get scammed and lose the car you've just bought in good faith.

If you sell it to a dealer or performance specialist, then they'd pay the balance off directly. Suppose a private buyer could do that too, but personally, I wouldn't.

As others have said, I'd be surprised if after year one you were 50% in on a PCP deal.
hence step 4 above, buyer and seller speak to Audi Finance to establish settlement figure, Buyer can get banking details directly from AF and compare to settlement letter to ensure match. Go to own bank (buyer) and get teller to do transfer to specified bank account.

What is the issue?
 

AlS3BE

Registered User
hence step 4 above, buyer and seller speak to Audi Finance to establish settlement figure, Buyer can get banking details directly from AF and compare to settlement letter to ensure match. Go to own bank (buyer) and get teller to do transfer to specified bank account.

What is the issue?

In my experience it’s a trust issue.
With lower valued cars you are talking a few grand but when you talking about £20-30k or more that begins to scare folk.
Tried selling my last a6 as trade in was not great. So many people with money but not willing to take the risk even though it was a good £1-2k less than an equivalent at the dealers.
Even thought about a bridging type loan so I could sell but wasn’t worth the hassle compared to selling to wbac type companies.
 

Carefree69

Registered User
There isn’t a risk, the buyer can settle the finance direct. Simple as that.

I’ve sold a pcp car to a private buyer before, he knew it was on a pcp and the price of the car covered the outstanding finance so he paid it, job done.

A buyer either wants your car or he/she doesn’t, the fact that it’s on a pcp is neither here nor there. Ok, it MIGHT scare some people, but the fact is it can and does happen.
 

NevMan

Well known member
In my experience it’s a trust issue.
With lower valued cars you are talking a few grand but when you talking about £20-30k or more that begins to scare folk.
Tried selling my last a6 as trade in was not great. So many people with money but not willing to take the risk even though it was a good £1-2k less than an equivalent at the dealers.
Even thought about a bridging type loan so I could sell but wasn’t worth the hassle compared to selling to wbac type companies.

Not a trust issue, more a fact that many when spending that kind of money (myself included) would rather go via main dealer and pay a premium. But if the price is right for sometime, they will buy the car, and more so when there is warranty left etc. The settling of finance whether pcp, personal loan whatever it is making sure all the relevant per paperwork is there, and that buyer speaks to bank or finance themselves for peace of mind
 

wab172uk

Now in an X3 M40i And a Yaris GR-Four
hence step 4 above, buyer and seller speak to Audi Finance to establish settlement figure, Buyer can get banking details directly from AF and compare to settlement letter to ensure match. Go to own bank (buyer) and get teller to do transfer to specified bank account.

What is the issue?

No issue if you are happy with doing that. I stated that I `personally` wouldn't as you hear so many stories of people getting conned. I don't ever want to become one of those victims. And just because the car is an Audi, doesn't mean the car is PCP through Audi.

Having a car still on finance won't bother some, but for the vast majority of people it will.
 
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jassyo06

T-Cut King !
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Sent from my F8331 using Tapatalk
 

NevMan

Well known member
No issue if you are happy with doing that. I stated that I `personally` wouldn't as you here so many stories of people getting conned. I don't ever want to become one of those victims. And just because the car is an Audi, doesn't mean the car is PCP through Audi.

Having a car still on finance won't bother some, but for the vast majority of people it will.

Jeez, was using Audi finance as example. I equally (as mentioned) don’t buy private, but I have examples of 2 others buying my cars off me and being very happy as cheaper than main dealer, and I was happy as got £2.5k for one and £2k for the other over and above P/X prices. Horses for courses...I will not be bothering with any more replies on this thread as bored now
 

S15THM

Navarra S3 Saloon
Better to try sell it privately than sit out until 50% has been paid because you can end up with more in your pocket than what's left on the agreement.
 

jassyo06

T-Cut King !

Timi8888

Registered User
Better to try sell it privately than sit out until 50% has been paid because you can end up with more in your pocket than what's left on the agreement.

I have a friend who works for a performance specialist. Will see if he can sell car on my behalf.
 

desi112

Registered User
Hi all.

I just wondered if anyone has sold car while still on a pcp deal?

I am one year in and I am given a settlement figure. I’m told Ican sell the car privately or can wait till March at hand back as I will be 50% of way through my contract.


I have sold 2 of my car's on PCP to Arnold Clark, I got the best price around as it is unlikely you'll be able to sell a car over £10K privately....(From my experience)

Arnold Clark settled all the finance and paid me the remaining balance. I was very happy with the process and the price I was paid hence me selling 2 cars to them
 

S32B

Registered User
I have sold 2 of my car's on PCP to Arnold Clark, I got the best price around as it is unlikely you'll be able to sell a car over £10K privately....(From my experience)

Arnold Clark settled all the finance and paid me the remaining balance. I was very happy with the process and the price I was paid hence me selling 2 cars to them
Did they try to knock you down on price? Mate of mine was looking to sell his VXR to them, but he'd heard that once there they pick at everything to get the price lower!
 

AlS3BE

Registered User
I’ve used arny Clark before and they have me what was on quoted on the website. My car was immaculate other than 2 stone chips on the front.
 
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