After 3 and a bit years of service it time to get rid of the Octavia. It's been a good car but a bit dull. I now have a bit of a dilemma. It was bought on a 0% PCP which the final payment is in March 18 of around £7k, I have three other monthly payments to make. The car is worth somewhere around the GFV. I have just bought new  car at a very reasonabIe price but the part x would have left me worse off. So I have a choice of :-

 

1. Buying it and trying to sell it.

2. Wait until March and hand it back.

3. Voluntary Terminating the PCP 3 months early.

 

Realistically I only think the last two are an option, Wbac have offered £7200, autotrader puts it about £7500 - both would be still be out of the money (just). If I VT it I would save the next few payments - as far as I can see there would be no advantage hanging on to March?

 

sounds like VT is the way forward

Requested a VT,  Cheeky gits want to charge £250 for a missing V5, £400 for a missing service book (which they don't supply anymore), £132 for missing key  + VAT.  

 

All not a problem - except the service book!

 

 

 

 

ouch!

out of interest how long does it take from phoning them to having the car collected? I've just seen a good lease deal on an Octavia VRS I'm tempted by. My PCP isn't due to end until May

On ‎28‎/‎11‎/‎2017 at 13:35, VRS Mike said:

out of interest how long does it take from phoning them to having the car collected? I've just seen a good lease deal on an Octavia VRS I'm tempted by. My PCP isn't due to end until May

 

I sent in the request on 27/11/2017 and I arranged the pickup yesterday for the 13th December. 

 

Inspected today- all fine and dandy - legally I don't think they could charge anything anyway as long as the goods are in a "reasonable" condition.  Pickup tomorrow.

5 minutes ago, io1901 said:

Inspected today- all fine and dandy - legally I don't think they could charge anything anyway as long as the goods are in a "reasonable" condition.  Pickup tomorrow.

 

How long did the inspections take? Was it very in depth?

15 to 20mins - involved taking pictures of inside and outside, checking wheels and tyre depth, two Keys, have V5, service history. Check for any damage (ie scratches, dings, dents). Recorded mileage and printed the report. He didn't to look for stone chips (they were a couple) but from what he said it was well within the threshold for a car over 3 years and 55k miles. I would imagine on  newer lower mileage that there might be a bit more scrutiny. 

 

The biggest problem is that I haven't been able to synchronise my purchase with the collection so have had to have two separate insurances. I've been told that I can transfer the NCB onto the new insurance when it been collected.

Edited 12 December, 20178 yr by io1901

5 minutes ago, io1901 said:

15 to 20mins - involved taking pictures of inside and outside, checking wheels and tyre depth, two Keys, have V5, service history. Check for any damage (ie scratches, dings, dents). Recorded mileage and printed the report. He didn't to look for stone chips (they were a couple) but from what he said it was well within the threshold for a car over 3 years and 55k miles. I would imagine on  newer lower mileage that there might be a bit more scrutiny. 

Hope this isn't teaching you to suck eggs...one thing I would strongly recommend is contacting the finance company in a few days to confirm the inspection, handover etc was to their satisfaction and they haver ratified any costs you owe and are in a position to settle the account/finance.    I waited a couple of weeks after not hearing from Barclays only to find that a lot of 'hidden' charges had been added to my final account by the the collection agency.  Barclays did actually sort this out rather quickly and waived the collection fee as a good will gesture. 

 

 

1 hour ago, penguin17 said:

Hope this isn't teaching you to suck eggs...one thing I would strongly recommend is contacting the finance company in a few days to confirm the inspection, handover etc was to their satisfaction and they haver ratified any costs you owe and are in a position to settle the account/finance.    I waited a couple of weeks after not hearing from Barclays only to find that a lot of 'hidden' charges had been added to my final account by the the collection agency.  Barclays did actually sort this out rather quickly and waived the collection fee as a good will gesture. 

 

 

 

As far as I understand it the Inspector is an Agent for Skoda Finance and any charges for wear and tear missing items would have been raised at the inspection today - I was given an inspection report.  The collection is tomorrow (both are carried out by BCA - I must remember to register for their Auction site and check how much it goes for.)

 

Edited 12 December, 20178 yr by io1901

1 minute ago, io1901 said:

 

As far as I understand it the Inspector is an Agent for Skoda Finance and any charges for wear and tear missing items would have been raised at the inspection today - I was given an inspection report.  The collection is tomorrow (both are carried out by BCA - I must remember to register for their Auction site and check how much it goes for.)

 

Well I had an additional few hundred £'s that had nothing to do with wear and tear, damage, etc.  The auction company (Manheim) couldn't accept my car on the day it was collected so an off site storage fee was levied for 1-2 days and then there was an admin fee charged because the collection/delivery company were some how inconvenienced by their own incompetence to liaise with the auction house. The auction house also added a nice full detail/valet fee despite me having photographs of the car being absolutely immaculate at the time of collection (the handover sheet even specified as much).  

 

Unfortunately, Barclays blindly added this to my final invoice for the car.  As soon as I contested the charges and supplied supporting info Barclays actually handled everything really well. 

17 minutes ago, penguin17 said:

Well I had an additional few hundred £'s...

 

I'll keep it in mind - thanks for the warning,

 

Picked up today.  

Just to finish this off, car returned, no extra charges. 

VT`d my Polo last February after 2 years of turmoil and reliablity issues all fortunately under warranty. Cost me just over £9.00 to settle up and the car was collected from the dealer I purchased my Octavia from by BCA. No issues, No extra costs. 

 

There doesnt seem to be many people, at least on this site who are purchasing outright after a PCP. I am now on a personal loan, paid off after 3 years. car is then mine. Old school car purchase. 11000 miles and no faults or issues so far. Touch wood. 

On 05/01/2018 at 07:15, threadbear said:

VT`d my Polo last February after 2 years of turmoil and reliablity issues all fortunately under warranty. Cost me just over £9.00 to settle up and the car was collected from the dealer I purchased my Octavia from by BCA. No issues, No extra costs. 

 

There doesnt seem to be many people, at least on this site who are purchasing outright after a PCP. I am now on a personal loan, paid off after 3 years. car is then mine. Old school car purchase. 11000 miles and no faults or issues so far. Touch wood. 

 

I reckon the reason theres more vt's than final payment is down to the knowledge that reality is the valloon payment is more than actual value of the car given the way the market is esp for 2nd hand (diesel mostly) skodas/vws at the moment.

Havnt looked into the numbers for ROI in terms of percentage hand backs vs purchases, but id say its a similar story tbh..