Swapping out Recaros on PCP

[aspen]

My PCP deal is up in the summer and its looking unlikely that there will be any value left in it.

So if I'm going to hand it back, it makes sense to hand it back sooner rather than later so I'm not wasting money on the remaining payments (I'm certain you can hand back after 50% of the total is cleared?)

So will they notice if I hand it back with standard seats?

 

[James17]

im going to say yes, especially if it is on the spec sheet of the car.

 

[N0ddie]

I'll say no as I assume you would have just included the Recaro price in the deposit and paid it then?

 

[Chrisgti6]

I don't know anything about PCP deals. Is the car yours?

If not (which it sound like it isn't if you have to hand it back) then I would say they would notice. Surely the residual values would have been calculated on the spec of the car. If you take it back with a different spec then it would be worth less?

 

[SarGara]

It depends what you are doing with the car.

When you say hand it back, are you going to phone up RUK and tell them to take the car back? Or are you part-ex'ing the car to a dealer and letting them settle the remaining finance?

If its the latter, they wont care or know the car even had Recaros.

 

[Ash424]

I say take them out and sell to me

 

[Dazza1]

U have to be careful with the pcp because u have a set 6,000 miles a year if u hand the car back with more then 18,000 on the clock they charge u 6p a mile they won't if u part x it for another renault

 

[SarGara]

Yep which is one of the reasons why you are better off part-exing to a Dealer rather than "handing it back".

 

[aspen]

Thanks for the replies guys. The Recaros were added in on the PCP deal itself so I suspect the residual value would have been based on them being included. Although they may have actually been left off the initial order. I seem to remember having to chase them on it. Looks like they stay with the car then. There goes my idea to get a little extra for new car deposit

Looking at handing it back to RUK as current trade in price is £500 less than settlement figure and its highly unlikely that there will be any value in the car at the end of July when my agreement is up and I'll have paid another few months payments by then. I was thinking about keeping it but it seems daft to pay more than its worth on the settlement figure. Reckon I hand it back now, drive girlfriends and friends cars if need be and put extra cash towards deposit. I walk to work so can survive without it for a while.

They are claiming I'm over my allowance at this point but I can't see how I am. If I am its no more than £50 worth so not too bad.

 

[SarGara]

Looking at handing it back to RUK as current trade in price is £500 less than settlement figure

But then you add the price of the Recaros and your back in profit as they will easily fetch more than £500? Recaros or not does not affect the list price when trading into a dealership.

 

[Iain 007]

But then you add the price of the Recaros and your back in profit as they will easily fetch more than £500? Recaros or not does not affect the list price when trading into a dealership.

But it isn't a trade in, It's returning the car to the finance company under a PCP agreement, therefore the car needs to be standard.

 

[aspen]

Will the dealer not still settle the finance and sell it on at a profit for themselves though? So in effect it is still a trade in. I could potentially make a little if I was to sell privately but based on the market I'd be better saving myself the hassle of breaking even that way and just handing back/trading in.

 

[M19TNR]

But it isn't a trade in, It's returning the car to the finance company under a PCP agreement, therefore the car needs to be standard.

What the previous poster was trying to get at (I think)
Is if he doesn't 'Hand it back' so to speak, and chooses to do a trade-in on a different car and settle the finance. Then having recaros or not wont affect the trade-in price at a different dealership.
So he can sell the seats, get say £1k for them, and make up the £500 he'd be down and end up £500 up, instead of handing it back.

 

[Giles]

Are allowed to do that?

Thought have to be same spec came the car and give it back.

 

[alex.]

Although you have the hand back option and you are well within your rights to do so and it won't affect your credit rating; finance companies do frown upon people doing this and tend to not be so keen to lend to you. Having considered doing this with my gfs previous Clio and being strongly advised against it by our regional finance manager - I work for Peugeot, in sales.

As for the seats not being in the car, if you're handing it back, I'd say they would need to be, may be classed as the car not being in reasonable condition upon return. If part exchanging it with a dealer, other than the one you bought the car from, they aren't going to know! If its the garage you got the car from, maybe they'd be sharp enough, maybe they wouldn't.

When calculating a residual value on any of our pcps, extras and metallic paint etc don't affect it.

Hope some of that is of use! :thumbup:

 

[Curley]

As Alex has said above really. Sell the Recaros on and PX the car, remember you can haggle the PX price with the dealer to hopefully get you above what is owed. Overall, you'll be in a much better posistion than just handing it back.

 

[djjackwilson]

Never hand a car back to the dealer!? That's exactly what we want you to do!

What we encourage people to do is sell it back to us, or another dealership. Then use the small profit made from the resale to put on a deposit for a new car.

Understand?

 

[SarGara]

What do you mean by "hand it back" though? I dont think anyone is implying that i think they are implying to part-ex the car against something else on the forecourt. Hence the original spec (Recaros or not) not having an impact as the dealer will not know what spec the car originally had.

 

[aspen]

Never hand a car back to the dealer!? That's exactly what we want you to do!

What we encourage people to do is sell it back to us, or another dealership. Then use the small profit made from the resale to put on a deposit for a new car.

Understand?

It's not what they want you to do when the car isn't worth the final balloon payment. I handed mine back to the finance company as there was no value in the car for part exchange. Even if i was to have sold it privately, I'd have really struggled to make anything on it. It was the best option in the circumstance.

 

[gaz]

Renault can tell the build of a car from chassis no, this will have the full spec of the car listed, including the seats