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Sell private to pay PCP

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  • 10-10-2021 2:09pm
    #1
    JansheerKahn
    Registered Users Posts: 44 ✭


    Want new car in Jan 2022 and have PCP currently which will have run 2 years by end of 2021

    Getting trade in offers with no equity from greedy main dealers - if I sell private would get between 5 - 6 k surplus cash after PCP balance paid off.

    Do PCP companies - BOI in my case have any problems in customers selling private to pay off PCP balance?

    Is it a case of getting their prior consent to do so and having it in writing etc?



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    #2
    Buddy Bubs
    Registered Users Posts: 3,514 ✭✭✭Buddy Bubs


    You'll have hassle selling a car privately with finance owing, you'd want to be upfront with buyer about your intentions.

    Apart from that, your numbers sound a bit off without details my first reaction is that a private buyer will not stump up 5 to 6k more than a trade in offer. What car is it and what are you looking to buy?



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    #3
    JansheerKahn
    Registered Users Posts: 44 ✭JansheerKahn


    Auction house will pay €20k cash - stated so this week if I sell.

    PCP has roughly €14k outstanding in Jan and dealers would only give this amount and nothing on top.

    Therefore my logic is sell same to auction house (who are aware of PCP finance) and I will be in better position.

    Car is Honda Civic



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    #4
    mickdw
    Registered Users Posts: 23,280 ✭✭✭✭mickdw


    You should be able to beat what an auction company will guarantee you as realistically that figure they guarantee is one they know they can achieve in the first auction they run - i.e. a very poor offer usually.

    Try more dealers. That's a joke of a markup the dealers are trying to make. You can go to any garage of any brand to trade in your car so worth shopping around.



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    #5
    JansheerKahn
    Registered Users Posts: 44 ✭JansheerKahn


    Honda dealer will give me a good deal.

    I am looking to step up in class - it is BMW and Audi who are giving these terrible offers



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    #6
    mickdw
    Registered Users Posts: 23,280 ✭✭✭✭mickdw


    That explains it. Bmw are known to be super greedy. Audi Abit better.

    Even if you sell and go on to buy with no trade in, I'd drive straight past both of them considering they tried to take you for a ride.



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    #7
    JansheerKahn
    Registered Users Posts: 44 ✭JansheerKahn


    Any experience with Peugeot dealers in terms of fairness re trade in values? - 508 looks a fine car



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    #8
    User1998
    Registered Users Posts: 5,925 ✭✭✭User1998


    Try zucar.ie



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    #9
    beachhead
    Registered Users Posts: 2,318 ✭✭✭beachhead


    Hello again



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