56 plate FR PCP Finance

[Nick_J]

Hi

I have a 56plate FR from brand new, now got 9k on the clock, as new condition.

Im thinking I mite chop it in to get a loan for say a 4-5k car and after payin that off in 8mths save alot more up for a house...... whereas in PCP am payin this for 3yrs......

...With the PCP, does anyone know if I can chop it back into Seat, or how do I go about this? Also, would I have to make some money up to pay the difference as its lost money being driven off the forecourt!

Cheers guys

Nick

 

[Poverty]

Economically right now is the worst time to buy a house just to let you know. But if you save now and what for the right time to buy you will be laughing.

Sorry dont know anything about the pcp!

 

[unitzero]

I'd call the Finance company and ask them what you'd actually owe them if you were to pay off the finance now including the final payment (and hopefully no early redemption fee) then you'll know for sure. As i didn't get my car direct from SEAT i don't know their specific policies but if you know who the Lender is and have some kind of account number you can probably skip the stealers altogether (if selling your FR privatley ie: on here?) If not maybe the dealers will help maybe not, it depends who you deal with they are all for taking money off you but probably not keen on giving much back!

 

[Nick_J]

Yo

Yeh worst time to buy, but prices are shootin up £500 a mth so never going ot be a good time! It wud be at least 2 -3yrs till i can afford a house if i chopped mine in anyway.

Ok, thanks for the info, I knows its worth more than what it will get as its perfect, and also getting run in, im doin the laborious bit!

Cheers

 

[BEOWULF]

Yo

Yeh worst time to buy, but prices are shootin up £500 a mth so never going ot be a good time! It wud be at least 2 -3yrs till i can afford a house if i chopped mine in anyway.

Ok, thanks for the info, I knows its worth more than what it will get as its perfect, and also getting run in, im doin the laborious bit!

Cheers

£500 mth where u going to live in a bedsit u will be looking at £700+ if not more
as for ya fiance like unitzero says give them a ring and find out for sure

 

[chillcupra]

I have been wondering that. Can you just hand the car back to seat finance whenever you want?

 

[Nick_J]

lol, only me buying, (am 19 atm) so im thinking maybe a shared ownership, in Milton Keynes. yeh, anything above a 2bed place is shooting more than 500 notes.

Ill try n get to Seat over the wekeend and let you no CupraPIP

 

[Leigh15]

I have been wondering that. Can you just hand the car back to seat finance whenever you want?

Yes you can - I got rid of mr FR for exactly the same reasons as you want to.

I'd recommend chopping your FR in for another SEAT though as you'll get a better price for it that way. I chopped mine in for the Leon when the FR was about 11.5 months old with 21k on the clock and got £9200 for it, if I'd just handed it back I would only have got £8500.

 

[Nick_J]

o rite ok, im looking for about a 5k car tho, that wouldnt get me much of a seat on a loan (to pay out right) would it? unless they have say a 53plate ibiza 130 sport or sumthin? doubtful at a stealers!?

 

[Leigh15]

My Leon was around that money - you won't get performance for £5000 though - mine's a 1.4

 

[chillcupra]

I am looking at Getting maybe in s2000 around xmas time. So could I just hand the car back to seat finance and walk away and not pay anymore finance?

 

[rashcupra]

youve only just got your cupra! ^^ not like it? try the petrol

 

[chillcupra]

Love the car its awesome. Just a change in circumstances means i may not need a car to get to work.

 

[rashcupra]

get a proper vehicle like a ninja!

 

[chillcupra]

I am falling for an s2000!

 

[Poverty]

S2000's are nice! :O

 

[Leigh15]

I am looking at Getting maybe in s2000 around xmas time. So could I just hand the car back to seat finance and walk away and not pay anymore finance?

Sort of - depends what the residual value of your car is compared to the settlement figure the finance company quote you. If you plan on simply 'handing the car back' you'll only get the trade price for it, so it may cost you some money to settle. If you part ex, you can normally negotiate a better price for your old car.

 

[m0rk]

the law is that you can hand it back 'without penalty' after 1/2 the term is up, probably OK on 5yrs HP, but 3yrs the finance providor will make some cash

 

[chillcupra]

Can you part ex a car on seat finance with another car maker such as honda?

 

[m0rk]

yup, the honda dealer would then clear the HP, but if there's a deficite you might have to pay it