Pcp

[Harpham]

Just a quick question regarding the PCP deals that alot of us have dropped on...

Can someone else take over the deal? i.e. if you wanted to get rid of the car, could you transfer the name over to them, so that they carry on with the PCP deal, rather than selling for x amount.

Just wondering really. Im not planning on getting rid of the 200 early! I love the car. There is a Sunflower ph1 that ive got my eyes on though, so if that happens (which it probably wont anytime soon) I wondered what my options would be.

 

[SarGara]

Doubt it. The only way out of the deal is to sell the car.

So in other words, get the person you want to transfer to to get a loan, purchase the car from you (paying off finance) and then they can continue to pay for the car/loan monthly.

On the subject however im currently feeling that im going to just finance out the remaining value and continue with mine. I genuinely cant see Renault producing a better one (better, not 1.6L turbo faster) and i think the car is plenty quick enough for legal fun....

 

[Harpham]

Ahhh right, thought as much tbh.

I will be getting rid. I cant see myself buying it outright tbh. If id have specced it up then it may have been another story.
Im hoping that I can get this Sunflower really cheap as my next car though, as its just sat on the street 24/7, so the owner obviously doesn't need it (hopefullly)
Im going to find out who owns it, then drop them a cheeky offer for it. If they say yes, buzzing. If they say no, then ill make sure im the first person they call when they decide to sell up.

 

[Maz]

You can't transfer the PCP it has to be paid off before you can sell the car. Went through this with mine, be prepped for a complicated situation if private sale!! Lol

 

[MadaCup]

You can't transfer the PCP it has to be paid off before you can sell the car. Went through this with mine, be prepped for a complicated situation if private sale!! Lol

Can you expand on the difficulties you experienced with the PCP and private sale please?

 

[Weo]

I'm guessing having to get a private seller to buy the car whilst finance is still owed on it, it shows up on a HPI check. There for you have to trust the owner to pay the remaining finance off with the money they new owner pays them.

 

[Maz]

Can you expand on the difficulties you experienced with the PCP and private sale please?

The person buying the car has to pay the finance company via chaps (for example) in advance of recieving the car, the finance company has to confirm reciept of the funds before you can hand the car over to the buyer (this can take days).

In advance I had to provide proof to the buyer of the outstanding finance on the car (settlement letter) so they knew the funds they were providing would clear the outstanding finance.

Only then can you handover the car, thats not the half of it, it's hard work if I'm honest and I'm not sure I would do it again.

 

[Mark83]

Looks like I'm stuck with my 200 for another 11 months then

 

[Roy]

Looks like I'm stuck with my 200 for another 11 months then

That's lucky then

 

[Mark83]

That's lucky then

Yes; it's fun to drive and saves me money

No; I've been looking to buy a new car and will have to put it on hold

 

[Deako]

Nothing wrong with it if you find an understanding buyer. Sold a couple of cars with finance no bother.