Hi all had the car 14 months from new and looking to sell for maybe something a bit more fun to drive

What are my options on sell a car that's on pcp?

Would skoda buy it off me and settle the finance and give me back any equity in form of cash? (If it's worth more than what's owed to finance company)

How do I get a settlement figure from skoda ?

Or would it better selling privately ? Ph, here, auto trader , Webuyanycar etc?

Advice much appreciated!

Thanks.

Ring VWFS and ask for a settlement figure. They emailed me mine.

Private will always be better, however, I don't know many people who will stump up 15k to buy it from you cash. So you'll probably end up selling it to a trader. I have no experience of this so it's not gospel.

As for handing it back, I'm not too sure, because of the value of the car, or what skoda think it's worth. I would not be surprised if you're in negative equity. But again, get a settlement figure, speak to your dealer and see what's what.

Other than that, what I plan to do is to buy it at the end of my PCP and sell it on myself. As I think that in 2 years it will be worth a whole lot more than the £6000 they want to buy it back for.

You cannot surrender the car back to the finance company until you have made more than half of the repayments, so you are going to need to get a settlement figure from the finance company and pay them off including the early settlement penalties. Once that is done the car is yours and you can sell it, until then it is still owned by the finance company and you cannot sell it.

 

Be aware though that at 14 months into a PCP you'll most likely be in negative equity and owe more than the car is worth. Reason for this is that the PCP interest includes the balloon payment at the end of the agreement.

Thanks guys. Il ask skoda and see what they say.

You cannot surrender the car back to the finance company until you have made more than half of the repayments, so you are going to need to get a settlement figure from the finance company and pay them off including the early settlement penalties. Once that is done the car is yours and you can sell it, until then it is still owned by the finance company and you cannot sell it.

 

Be aware though that at 14 months into a PCP you'll most likely be in negative equity and owe more than the car is worth. Reason for this is that the PCP interest includes the balloon payment at the end of the agreement.

Depends if he bought it on the 0% finance deal.