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Can you start a new PCP after you refinance the current final payment?

  • 21-07-2021 6:14pm
    Registered Users Posts: 573 ✭✭✭ batman1

    PCP up in Oct and considering refinancing the final payment of 12k through vw bank at 6%, cheapest I can find.

    Just wondering if, in 6 months I decided o wanted to get a new car, will they facilitate a new PCP deal?

    Current car is fine and a nice 2.0 diesel Tiguan, 150bhp with all the extras.

    I just can't decide on going petrol, hybrid etc so am waiting it out, so to speak.


  • Registered Users Posts: 749 ✭✭✭ DriveSkill

    Its the same as trading any car with outstanding finance on it, should not be an issue. All it means is that whatever they value your car at they will then take off whatever the settlement figure is on the outstanding finance so whatever is left is your "equity" or deposit for the PCP. If you go to VW and your finance is with VW bank it should be pretty straight forward.


    Settlement figure to clear your finance is 10K

    Trade in value of the Tiguan is 15K

    So really you are going into a PCP with 5K deposit if you give them your car.

  • Registered Users Posts: 50,125 ✭✭✭✭ bazz26

    However in 6 months time he's current car will be considered a year older so will have a lower trade-in value than now.

  • Registered Users Posts: 3,028 ✭✭✭ Lantus

    You can start a new pcp at any time after you sign the initial deal. 6 months, a year and 2 years being most common. Just stroll in, pick the car and vw group will do the rest. You can even switch brands.

    There are a few new cars bought last year and this year! where I live already switched out for newer different cars because owners fancied a change. Skoda and vw in each case.

    I wouldn't rush to buy a hybrid or petrol over a diesel. What's the benefit?