57 minutes ago, New11 said:

(Sorry for the delay - I was off for a while)

 

I checked what @kodiaqsportline asked and:

- the final payment (according to a printed document):  £11k

- the value of similar cars:  > £20k (https://www.autotrader.co.uk/car-search?postcode=co29bt&radius=80&make=SKODA&model=Kodiaq&include-delivery-option=on&year-from=2019&year-to=2019&transmission=Automatic&fuel-type=Diesel)

 

 

On the face of it, looks like a bargain.  That's a big gap.

 

Buy to keep.

 

Or buy to sell on.

On 02/02/2023 at 21:02, New11 said:

(Sorry for the delay - I was off for a while)

 

I checked what @kodiaqsportline asked and:

- the final payment (according to a printed document):  £11k

- the value of similar cars:  > £20k (https://www.autotrader.co.uk/car-search?postcode=co29bt&radius=80&make=SKODA&model=Kodiaq&include-delivery-option=on&year-from=2019&year-to=2019&transmission=Automatic&fuel-type=Diesel)

 

If it is worth at least £9k more than you owe, then stupid to hand it back

 

Buy it to keep,

or buy it to sell on and pocket the £9k
 

You could roll into into a new deal, but PCP interest rates are high at moment, so not good time, as might be buying at top of interest rate bubble.

 

 

EDIT just used Skoda finance calculator to see how bad new PCPs are at current high interest rate. For basic Kodiaq came up as price £33,495 which over 4 years with £6697 deposit said total payable £39,385 (and you would have higher balloon at £14,714, so would owe nearly £4k more than now at end)

 

So basically paying £39,385-33,495= £5890 for doing a new PCP.

 

You really ought to be looking at say an interest free credit card for £2k - £3k * with other £8k financed by a bank or supermarket loan at 5-7%.

* for card will probably be a 3% fee and make sure you pay about £100 per month so balance is zero before free period expires.

 

Edited 4 February, 20233 yr by SurreyJohn
Added figures for rolling into new PCP

One word of caution...   the price we see advertised on Autotrader is not what a car is worth. That's the asking price from a dealer ( and not necessarily what they'll sell it for ). It includes dealer markups, slapping a warranty on it, slapping overheads such as the dealer having to obide by various laws where the car may be returned and they'd be at a financial loss etc.  

 

I think I've said this before - the best indication of what the car is worth is what someone will actually pay for it. Auction sites such as WeBuyAnyCar etc are a very good indication of what your car is worth ( as long as you answer their questions accurately ).