PCP ending with 2k equity

On 31/08/2020 at 11:00, lway said:

 

Wow, they must have really messed up their figures on that one, or else the car was way over mileage or in bad condition, sounds like you had no option but to hand it back if the market was that bad.

At the very least you need the car to be worth the Guaranteed Minimum Future Value plus whatever deposit you paid day one at the end of the PCP.

Missus had an Opel and at the end of the PCP the Opel garage were offering her the GMFV plus 2k, but she had paid a 5k cash deposit at the start of that PCP so we shopped around and the Skoda garage were offering her the GMFV plus 5k for the Opel and 0% interest so she changed to an Octavia. She's thinking of buying the Octavia at the end of the PCP so we'll see what the story is when that time comes around in a year or so.

 Car was in mint condition, well under the agreed mileage. It was a terrible deal all round!