Hi, a thought occurred to me recently and I don't know if my finance quote was worked out correctly. Basically I have a car currently on a pcp deal which ends in September. I visited the dealer I purchased it from to discuss getting another new fabia. They worked out figures as they would but this is where my confusion about the figures starts. At the time I owed 5650 ish, and was offered 7k as a trade in value against the new car. This gave me an effective deposit of 1350 ish. Now since then though I will have made my 2 remaining monthly payments before I was due to make the balloon payment so the balance owed should be 5250 ish which should give me an extra 400 ish on top of my deposit. Should this amount be factored in when I go to sign my finance agreement a few days before my car is ready to be picked up or will the initial figures stand or should they recalculate accordingly???. Sorry for the long winded post.

Basically they will need to get a full settlement figure before writing up the new finance agreement with your new monthly payments as you'll have a larger deposit.

Hi Jaxx, Long winded post? Surely...you've seen mine...and they don't come any more long winded than that!!...usually.

I reckon you ought to just check with your dealer to be sure you have the latest best price/quote figures. He may have carried out your quote on an "if you did the deal now" basis. The price for trade in sounds pretty reasonable. Let us all know how you get on Jaxx. Cheers buddy.

I have to sign the paperwork etc a few days before collection but I don't know if they save the quote they offered me on my file or whatever or if it's done again when I go to sign on the dotted line. I will find out in a month or so I guess. I have the order form with amount outstanding on current vehicle and viced in price offered and the top line figure for my new car but there is nothing about monthly installments or APR rate or anything. I ordered last week of June so the rate should be 7.9% probably.

The trade in value shouldn't change just the amount of equity you have leftover.

M22, do you mean the 400 extra equity should be added Jo my deposit or taken off the price of the new car? Or have I misunderstood...

M22, do you mean the 400 extra equity should be added Jo my deposit or taken off the price of the new car? Or have I misunderstood...

The £400 will be added to your deposit which means your finance will change and the payments will come down a small amount.

COOL. Result lol. I just hope Mr dealer doesn't try any funny business like saying trade in worth 400 less too or some other sneaky tactic.