Hi,

I currently have an Octavia Vrs estate on PCP till Dec 17. Car has done 26k on a 30k plan. I asked skoda finance for the voluntary termination amount. £460 deficit to pay if I get rid over next 4 weeks. I asked carwow what they would offer me and all are saying negative equity. I put a large deposit down on the car to keep my payments low. I am after some advice from you skoda folk who have been or are in a similar circumstance? 

I work for the emergency services and I can get a good PCH price on a new Vrs or Scout for £280pm. 3 months up front, 4 yr lease. I don't have the large deposit this time and I cannot afford to pay £450 pm for the same car. I cannot go above £300 pm. I currently pay £225pm, due to large deposit. Nice while it was there!! Made it more possible!!

1. Should I stay to the end of my PCP ? 

2. Pay the VT £460 and go with a PCH? 

 

Any constructive suggestions would be appreciated. I've seen the deals with Simpsons Skoda anyone dealt with them. I've been speaking to Force leasing in Lincoln.

 

Cheers

 

Andy

 

I'm not sure why you would pay £460 to end early, then PCH a similar car for £280 plus 3 months up front when your paying £225 now. 

 

I would wait until Dec and the hand the car back and then go with the PCH if thats what you want. 

Exactly, let your monthly payments get you to the 50%, why pay a lump sum to get out of the car?

 

Are you likely to go over your mileage - you will have excess mileage to pay as well if you are over your pro-rata mileage now. Have you factored that in?

Or wait till the end of your current PCP and buy the car by financing the final balloon. It's only negative equity if you get out, so why not buy it unless it's been troublesome?

 

Must work out cheaper than the other options of starting all over again, you will soon be back in this situation in a few years on the next PCP/PCH unless your happy forever that way?

Try selling it. I did and it wasn't anywhere near as bad as I thought. Was then £2K better off than VT.