End of PCP advice - Final Value

[soziblewuup]

Hi all,

I'm coming to the end of my first ever PCP (a month and a half remaining). I'm in the process of taking out a PCP through Seat and was looking to pick up a new car on Friday. They have calculated the equity in my current car (Audi finance) by calculating the difference between the actual equity in the car and the monthly payments I have left on my current PCP. There are two monthly payments remaining at £200p/m and the equity in the car stands at around £2000. Therefore they have calculated there is roughly £1600 worth of equity remaining.

My issue with this is, my next car finance payment with Audi is tomorrow. Therefore I'm handing over £200 to Audi for September, but Seat are calculating the final equity based on the here and now and have disregarded this payment is being made. Surely I'm losing out on £200 here?

Should I be asking audi finance to not take the September payment or should I be asking Seat to recalculate the equity left in the car? Or am I completely in the wrong here!

Any advice would be great.

 

[ben4012]

Tbh £1600 is a good equity. However, this doesn't take into account interest rebate. Any overpayment on existing pcp will be refunded when SEAT effectively pay off the loan so you likely see tomorrow's payment back. Have you called Audi finance for a settlement figure?