A question on PCP deals

[NikEd]

So I'm part exing my old car in a couple of weeks for my new vRS. It's current value is about the same as the remainder on the finance.

If I part ex a couple of days before my direct debit date do I end up better off as I don't have to make the next payment? And if it was a few days after the direct debit I effectively 'lose' the payment?

[octaviaconvert]

It doesn't really make much difference. Your settlement figure usually accounts for the last payment. It can take a few days for the payments to clear and the finance company will refund any difference

[FlyingGecko]

So I'm part exing my old car in a couple of weeks for my new vRS. It's current value is about the same as the remainder on the finance.

If I part ex a couple of days before my direct debit date do I end up better off as I don't have to make the next payment? And if it was a few days after the direct debit I effectively 'lose' the payment?

So, maybe the finance company can answer these questions?

[NikEd]

I'm sure they can... Just thought some on here might have some experience on what to expect

[sworrall]

I'm sure they can... Just thought some on here might have some experience on what to expect

yes, be careful!

 

I just PX'd my mk3 last week.  I knew I had a payment going out at the end of April which would have brought me about level with my PX so I didn't need to pay much off.  Unfortunately in order to check my settlement I had pressed the "settlement figure" button on the Skoda Finance site about 5 days before my payment left my bank account.  I had then unwittingly locked in the settlement figure for 30 days and after I queried why my latest payment wasn't showing up they informed me of the 30 day lockout and wouldn't budge on it.

 

So I basically had paid nearly £400 on my monthly payment which didn't show in my settlement figure and I then had to find this amount in order to trade the car in :(  Ive now got to wait until the PX payment goes through from the dealer and then request a refund from Skoda Finance.  What a ball ache :(

 

So my advice is get your settlement figure by phoning up Skoda Finance BUT ONLY once they confirm your latest payment has reached them and will be included in the figures.  Don't bother with the online version as its easy to make the mistake I did and you'll "lose" your monthly payment for a few weeks.