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End of PCP. What did you do?

  • 13-08-2025 10:12AM
    #1
    yermanthere
    Registered Users, Registered Users 2 Posts: 148 ✭✭


    More EV purchases coming to the 3 year mark on PCP. I'd be very interested to hear how it went?

    Trade in values?

    Stick or change?

    ID.4 forum is talking about move to Tiguan as well as renew EV. What's the market looking like?



Comments

  • #2
    Buddy Bubs
    Registered Users, Registered Users 2 Posts: 6,013 ✭✭✭Buddy Bubs


    https://www.boards.ie/discussion/2058421867/end-of-pcp-what-did-you-do

    Also some talk of excellent incentives to get people into new ID4s recently too. Small sample size here. Depends on particular deal you are getting.



  • #3
    ted1
    Registered Users, Registered Users 2 Posts: 23,515 ✭✭✭✭ted1


    https://www.boards.ie/discussion/2058421867/end-of-pcp-what-did-you-do

    how many people are actually talking about moving to Tiguans……



  • #4
    Soarer
    Registered Users, Registered Users 2 Posts: 8,041 ✭✭✭Soarer


    Our 3 years are up next July, and the future value is set at €22k. There's no way in hell a 3 year old ID3 is gonna be worth that, so the keys will be handed back.



  • #5
    893bet
    Registered Users, Registered Users 2, Paid Member Posts: 10,003 ✭✭✭✭893bet


    I spoke to madlad, handed the car back and have a lovely 1993 opel corsa now. Savage.



  • #6
    ted1
    Registered Users, Registered Users 2 Posts: 23,515 ✭✭✭✭ted1


    https://www.boards.ie/discussion/comment/123719672#Comment_123719672

    my GMFV was 18k on a ID4 City 52kwh. I got ‘more than 24k off a new Pro Plus for it.

    they want people in new cars.



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  • #7
    GavMan
    Registered Users, Registered Users 2 Posts: 1,949 ✭✭✭GavMan


    I'd imagine dealers and distributors will be taking haircuts to one degree or another on 2022/2023 EV's to get folks into new cars



  • #8
    yermanthere
    Registered Users, Registered Users 2 Posts: 148 ✭✭yermanthere


    Interesting to hear. @Soarer , surely you'd just keep it? If there's no equity what else would you get for 22 grand? At least you know your car. Or is it not worth it?

    I hope dealers are willing to move numbers around to get a sale otherwise lots of 22&23 will be kept.

    Good to hear actual numbers. I'll have 23 grand gmfv on a bz next spring, wondering what I'll be offered. Tbh I'm happy enough if they can't deal. I'll just keep a perfectly working car. But I'd take a 26 from Toyota/ BYD/ Kia 😇.



  • #9
    ELM327
    Registered Users, Registered Users 2 Posts: 19,319 ✭✭✭✭ELM327


    My plan was to hand my m3 back, purchased at 54k and the new one is 37, the gfmv is low 20's and the car wouldn't be worth that. Thankfully (!?) someone rear ended me and wrote it off so I was able to get out of it 2 years in.

    The other PCP car, the ora funky cat, is up next july and the GFMV is only around 12k so we'll probably keep it. Undecided as of yet though.



  • #10
    ablelocks
    Registered Users, Registered Users 2 Posts: 5,171 ✭✭✭ablelocks


    had a chat with my dealer about my pcp on a Renault Megane Etech yesterday. we looked at trading up now after 2 years, but the numbers don't work - new one is 37k, the settlement figure on mine is still 28k and the second hand value of mine is only about 25k (based on online dealer pricing) and he wouldn't give me that anyway.

    His advice was to wait until next year and do a review in June before pcp finishes in July. He strongly hinted that they would do everything they could to avoid taking back the car, but it could be the best option for me.



  • #11
    yermanthere
    Registered Users, Registered Users 2 Posts: 148 ✭✭yermanthere


    @ablelocks , what makes handing it back best option? Would it work out better to go new with no trade in and a few thousand in cash?

    Or is it the cost of credit in original deal. I'm just wondering/ planning. My thoughts are that I know the car I have, so if I have to keep it, ok.

    Are their deals to be got, starting again with no trade?



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  • #12
    DaveyDave
    Registered Users, Registered Users 2, Paid Member Posts: 6,523 ✭✭✭DaveyDave


    My 2022 204hp 58kWh Cupra Born was ending in September, last month I picked up a 326hp 79kWh Born VZ. I was originally going to hold onto the car long term but it was missing a few options due to the parts shortages, I ended up getting a good deal so I took it.

    Original car was €40,400 after €5k grant and VRT relief. Approx €2k in options. Final value was €17,500. I owed around €18k, Cupra offered me €21k. Car had just under 34k on the clock. PCP was 3.9%, monthlies were €335. Original deposit was €13,500 (trade-in).

    The new Born VZ was €40,100 after €3.5k grant, VRT relief and a €3,500 discount from Cupra. Car has €2,300 in options. Final value is approx €20k. PCP is 3.9% and the monthlies are €350. I also got an €875 public charging voucher. I put a €7k deposit in.

    Genuinely surprised I had €3k equity, but that was also before prices of everything shot up. Some of the Born/ID.3 have final values of €22-23k so you're better off just holding onto the car and getting your money's worth.



  • #13
    ablelocks
    Registered Users, Registered Users 2 Posts: 5,171 ✭✭✭ablelocks


    https://www.boards.ie/discussion/comment/123725385#Comment_123725385

    I don't know, we just left it at review in June and look at options then.

    I was thinking the same that i'd be better off keeping the car, but i suspect the price to purchase the car outright then will be higher than it would be worth.

    so yea, handing it back and starting again with no trade in would be the alternative.



  • #14
    joe1303l
    Registered Users, Registered Users 2 Posts: 4,169 ✭✭✭joe1303l


    https://www.boards.ie/discussion/comment/123725585#Comment_123725585

    Hand it back and then buy it at market value might be worth considering.



  • #15
    eastie17
    Registered Users, Registered Users 2 Posts: 693 ✭✭✭eastie17


    the thought of handing over a big ball of cash to fit in the same car I’ve sat in the last 3 years sickens my arse but I know it’s the best financial decision.

    I’d much prefer to take that money and get in something new, but never PCP again

    I’m likely to be over mileage as well so there really isn’t a choice financially.



  • #16
    ablelocks
    Registered Users, Registered Users 2 Posts: 5,171 ✭✭✭ablelocks


    https://www.boards.ie/discussion/comment/123727250#Comment_123727250

    was thinking of that too.

    i get on well with the dealer, used to do some work with them and have bought cars from them over the last 10 years - i'm reasonably confident they'll come up with a solution that works…



  • #17
    blingrhino
    Registered Users, Registered Users 2 Posts: 1,157 ✭✭✭blingrhino


    Just wondering if i decided to keep the car after the 3 years and wanted to refinance the balloon payment is this done through original dealer or do i deal direct with Alphera ?



  • #18
    joe1303l
    Registered Users, Registered Users 2 Posts: 4,169 ✭✭✭joe1303l


    https://www.boards.ie/discussion/comment/123727665#Comment_123727665

    I’d suggest you just borrow as little as possible and shop around for whatever amount you need to borrow. Your local Credit union etc. are probably all worth checking with.



  • #19
    carsfan2
    Registered Users, Registered Users 2 Posts: 3,889 ✭✭✭carsfan2


    https://www.boards.ie/discussion/comment/123727665#Comment_123727665

    no harm contacting the dealer but shop around as you may get better rates elsewhere



  • #20
    yermanthere
    Registered Users, Registered Users 2 Posts: 148 ✭✭yermanthere


    On 4th PCP in this household. Some flipped, some kept.

    Whatever finance place gave the initial PCP will have an option to keep the car.

    Get quotes from credit union/ bank to compare. We've kept the car at end of PCP, and both times the " dealer bank" had best terms to pay off the gmfv.



  • #21
    eronayne
    Registered Users, Registered Users 2 Posts: 130 ✭✭eronayne


    https://www.boards.ie/discussion/comment/123718781#Comment_123718781

    moved from an id.5 to a tayron last week

    got out of the id.5 a year early, was basically a handback, dealer took it for the amount outstanding on the PCP.



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  • #22
    dodzy
    Registered Users, Registered Users 2 Posts: 10,325 ✭✭✭✭dodzy


    https://www.boards.ie/discussion/comment/123729946#Comment_123729946

    so you called time after 24mths. What was the financial impact for those 2yrs of ownership out of interest?



  • #23
    EV01
    Registered Users, Registered Users 2 Posts: 81 ✭✭EV01


    if the ‘balloon payment’ is unrealistically high, therefore makes no sense to pay that - but you’d like to keep the car (because it’s running great, and you ‘know it’)

    …what’s to stop you simply handing it back

    …finding out where/when it’ll be auctioned

    …then buying it back at auction if the price is right (which it surely will be if the balloon is too high)



  • #24
    DaveyDave
    Registered Users, Registered Users 2, Paid Member Posts: 6,523 ✭✭✭DaveyDave


    https://www.boards.ie/discussion/comment/123735860#Comment_123735860

    The car being worth less than the balloon payment for the owner doesn't necessarily mean it's worth less to the dealer. I got €21k for my 222 Cupra Born, the dealer listed it for €25k. The highest balloon payment I've seen for those is €22-23k so people might be in the negative being offered €21k but the dealer will still come out on top at €25k. The issue is people are panicking and trying to hand back their cars after 2 years and they simply don't have enough of the finance paid off.

    If you hand back the car hoping to rebuy it for a similar value to the balloon payment I think you'll be disappointed as it will likely end up more as the dealers will want their profit.



  • #25
    EV01
    Registered Users, Registered Users 2 Posts: 81 ✭✭EV01


    https://www.boards.ie/discussion/comment/123736760#Comment_123736760

    under PCP the car goes back to the finance company, not the dealer

    FCs then offload returned cars to auction houses

    …unless car auctions are a rarity in Ireland?



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