Hi,
I am currently in a 42 month pcp and am needing to get a bigger car.

I have been told I can wait till June and voluntary give car back. Or pay £519 to give car back.

Now, if I go to another dealer, would they pay the £519 off the pcp if I buy a car off them? Meaning, would they fit it into the deal and give me the money to pay it off or do I have to wait?

 

You can p/x the car anywhere you want at any time. If you're in negative equity you'll have to buy out of it one way or another. Usually the dealer will give you the standard trade in price and then you and the member of staff you're dealing with can start to sort out how best to deal with the finance. With an amount that small some dealers might swallow it into the discount they give you from the new car, some will want you to add it to your deposit, some will add it to your monthly payments. It depends what the £519 is covering, is that £519 up to VT point where you've settled 50% of the value of the car or £519 until the end of the agreement? The best solution is to go to the dealer you're interested in buying from and have a chat, give them all the figures and see what they say.

 

The car is also yours to sell privately or take to We Buy Any Car etc any time you want, worth looking into when considering the whole cost to change

Hi Sasha, Yes, the £519 is the VT point. I went to get a car and I owe £6020 and they offered around £4600 so hikes monthly payments right up and not worth doing. I can pay £519 and hand car back or wait till june and hand car back but I am needing bigger car now. Dont know if a dealer will do anything with VT?

With VT you would ring the finance company and they would sort it from there, the car wouldn't go back to the dealers, it'd be picked up from you direct. If you really need a new car now I'd pay the £519. You'd also have half a chance of getting a pre reg one in before the April tax hike which would save you most of that down the line and there's no price when you need something now