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Thread: Car finance / PCP plan at an end - advice please.

  1. #1
    Master
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    Car finance / PCP plan at an end - advice please.

    Morning all.
    My wife has a PCP finance plan on her Qashqai which ends in January, so of course Nissan have been on the phone badgering her to come in and look at a new deal.
    Last time, she bought a 3 year old car and paid the absolute maximum for it - I genuinely couldn't find a more expensive one in the country - so I gave her a bollocking. This time, naturally, she's bringing me because I was a clever-clogs and thought I knew best!

    The questions I have are;
    Are we tied to the same dealer if we renew the plan on a new car?
    Can you still haggle if taking a PCP out? I mean, is CarWow redundant in this instance or still worth a look?

    The car is a 63 plate currently worth about £7500. To buy the car outright (paying off the PCP in one go) is £5300 which we just haven't got, so that's not an option.

    Any advice that makes me sound like I know what I'm on about will be gratefully received!

    Thanks everyone.

  2. #2
    Master
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    Try https://www.drivethedeal.com/

    PCP deals and very competitive.

  3. #3
    Master
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    Thanks JP but I'm still totally lost as to where we stand on ending a PCP and starting a fresh one.

    Will we need to come up with a full deposit, or will the current car act as that? If so, are we tied to the same dealer/brand??
    I wish she'd just done the normal thing and bought a bloody car. We didn't need any finance at the time and now it feels like we're stuck in a loop!

  4. #4
    Master
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    Quote Originally Posted by kevkojak View Post
    The questions I have are;
    Are we tied to the same dealer if we renew the plan on a new car?
    Can you still haggle if taking a PCP out? I mean, is CarWow redundant in this instance or still worth a look?
    No, you can use any dealer. The current car finance will be settled as part of the deal. If you walk away from the current car, you'd start from scratch. If you part-exchange the current car each dealer will make less/more attractive offers for it.

    Yes. Haggling is absolutely part of the PCP process and CarWow is a good tool to use. On my current car, I got the best price on CarWow and then persuaded my local dealer (Audi) to beat it. I then bought the car on PCP.

  5. #5
    Journeyman
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    If you like the current car why not refinance and buy it from the leasing company?

    Sent from my Moto G (5S) using TZ-UK mobile app

  6. #6
    Master
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    Quote Originally Posted by kevkojak View Post
    Thanks JP but I'm still totally lost as to where we stand on ending a PCP and starting a fresh one.

    Will we need to come up with a full deposit, or will the current car act as that? If so, are we tied to the same dealer/brand??
    I wish she'd just done the normal thing and bought a bloody car. We didn't need any finance at the time and now it feels like we're stuck in a loop!
    Any deposit coming from the current car will just be the difference between any part-ex they offer for it and the settlement value (£5300). So, if they offer you 6k for the car, you'd have £700 deposit etc.

  7. #7
    Master
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    Quote Originally Posted by MikeB687 View Post
    If you like the current car why not refinance and buy it from the leasing company?

    Sent from my Moto G (5S) using TZ-UK mobile app
    Cheers Mike. I suggested that but she's adamant that's 63 plate is too old - she's picking out faults that don't exist now, I suppose there's an element of keeping up with the jones' in there. I'm fed up with it all now, it's a perfectly good car that does what we need. Women.

  8. #8
    Master TKH's Avatar
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    Choose any dealer you like

    Yes you can use Carwow.....even if you don't great benchmark

    you can even sell your car to WBAC anything they give you over final payment is yours to keep (deposit for next one)

    you don't need to wait until Jan to sell / deal as PCP are calculated like HP (PCP Sett = outstanding payments + Final) so you may have December + final.

    start with a clean sheet negotiate best deal.

    December is a great time to get a great deal we have annual targets to hit and will slash our wrists to get a registration

  9. #9
    Craftsman
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    Echoing what others have said, you're not tied to the same dealer that you purchased it from (or the same manufacturer).

    Once you have the settlement figure you can either:

    * Return the vehicle and start from scratch
    * Pay off / refinance the settlement figure and keep the vehicle
    * Sell the vehicle to pay off the settlement figure
    * Shop around for a new /used car using any dealer of any manufacturer (or the likes of carwow), they will likely offer you an amount for the vehicle in part-exchange and anything offered in excess of the settlement figure will go towards the deposit for the new vehicle

    As above, December is a quiet month for car sales and dealers will be desperate to boost the end of year figures.

  10. #10
    Master reggie747's Avatar
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    Quote Originally Posted by kevkojak View Post
    Cheers Mike. I suggested that but she's adamant that's 63 plate is too old - she's picking out faults that don't exist now, I suppose there's an element of keeping up with the jones' in there. I'm fed up with it all now, it's a perfectly good car that does what we need. Women.
    Consider part-exing your wife then...

  11. #11
    Master davida's Avatar
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    Quote Originally Posted by reggie747 View Post
    Consider part-exing your wife then...
    Now that is expensive!

  12. #12
    Pcp have to be the next ppi right?

    Sell it via any method that clears the final payment and leaves you with some cash

    The lease one
    You know where you stand as at end you just start again with no issues

    The lease deals sissy’s trump pcp in my eyes with some stunning deals around in various cars if she’s open to ideas





    Sent from my iPhone using Tapatalk

  13. #13
    Quote Originally Posted by kevkojak View Post
    Morning all.
    My wife has a PCP finance plan on her Qashqai which ends in January, so of course Nissan have been on the phone badgering her to come in and look at a new deal.
    Last time, she bought a 3 year old car and paid the absolute maximum for it - I genuinely couldn't find a more expensive one in the country - so I gave her a bollocking. This time, naturally, she's bringing me because I was a clever-clogs and thought I knew best!

    The questions I have are;
    Are we tied to the same dealer if we renew the plan on a new car?
    Can you still haggle if taking a PCP out? I mean, is CarWow redundant in this instance or still worth a look?

    The car is a 63 plate currently worth about £7500. To buy the car outright (paying off the PCP in one go) is £5300 which we just haven't got, so that's not an option.

    Any advice that makes me sound like I know what I'm on about will be gratefully received!

    Thanks everyone.
    You could get a cheap personal loan for £5300 (at about 3.4% )
    pay off the PCP and own the car,
    Immediately list it on Autotrader for £7500
    Sell it quickly for £7000 and pocket about £1500 in a week or so.

    Or........

    do all the same and buy it, then trade it in against your new car at probably £7000 value, with no time pressure because the clock isn;t ticking and you own it. YOu're only servicing the loan, which will be about £150 a month, and this INCLUDES paying off the capital.

    just pick the cheapest finance deal of all. Which isn't the main dealer.

    They are always the most expensive

  14. #14
    Grand Master number2's Avatar
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    Surprised that many of the points in this thread weren't explained to you when you bought the Nissan, someone (the business manager) needs a refresher.
    "Once is happenstance. Twice is coincidence. The third time it's enemy action."

  15. #15
    Master reggie747's Avatar
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    Quote Originally Posted by number2 View Post
    Surprised that many of the points in this thread weren't explained to you when you bought the Nissan, someone (the business manager) needs a refresher.
    Like the "business manager" has any inclination to get involved in teaching at sales level is probably slim to zero.
    He's interested in his subordinate junior sales staff selling cars, with them ultimately knowing their arse fro their elbow.
    He was probably speedread the whole contract thing right before he penned the bottom dotted line.

  16. #16
    OP you can buy any car you want from anywhere you want, you just have outstanding finance on your current Nissan which will need to be settled. If you like the Nissan have a look around and compare how much you would need to pay the finance company verses forecourt prices. If you are considering leasing you may be better off getting a new car as the interest rates will be much lower and there will be discounts on offer.

  17. #17
    Grand Master number2's Avatar
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    Quote Originally Posted by reggie747 View Post
    Like the "business manager" has any inclination to get involved in teaching at sales level is probably slim to zero.
    Good practice to explain how it works, if the sales team and the BM can't be arsed I'd not be happy, which would result in them not being at all happy.
    "Once is happenstance. Twice is coincidence. The third time it's enemy action."

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