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Possible negative equity on 2013 0% PCP

boff180
in Skoda Octavia Mk3 (2013 - 2020)

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the only option they have is financing the GFMV and keeping the car.

Or get a cheaper car... But yes I agree that it's intended to coerce your info buying a car that you might otherwise not be able to afford then further persuade you to get another new car in 3 years rather than keep paying for an old one.

BA Baracus:

The finance company will always attempt to work the details so that you have equity left in your car at the end of the initial agreement so that the salesman can softest you use it as a deposit on a shiny new car.

It's planned to keep you buying in a 3 (or similar) yearly cycle.

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  • M12MKD
    M12MKD

    Surely PCP is no different to buy a car with cash. Only difference (apart from possible interest) is you take the depreciation hit straight away on a cash sale.   Like I said my Citigo is nearly on

  • M12MKD
    M12MKD

    No different to my citigo. Nearly at the GFV amount already with another year to go on the term. I think this is fairly common as the cars (not just Skoda) are fairly over priced and people are buyin

  • RobbySpurs
    RobbySpurs

    But don't you need to look at it one of two ways. Either (1) you just hand back the car at the end of the PCP term or (2) whilst technically you might be in negative equity, will the £9k final payment

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