Hello from Bristol

[Nik Boyd]

So not exactly new here but haven't been active in a very long time, I currently have a T6 Ocean that we have had for the past couple of years - at the moment its on a PCP deal as we weren't sure how much we would use it (turns out a lot, when we are allowed to!)

I'm just starting to talk to dealerships about changing it for a new model that we will buy outright now that we have a very good idea what spec we would change/add/remove - be interested to see who can come up with what deal given that I've got 2 years to get this right if I want to.

Can't wait to get back out in next week!

Nik

 

[pjduffill]

Nik, search my post:

pcp & voluntary termination

may give you wriggle room

 

[AlisonF]

PCP & Voulantry Termination

You may be aware of the option to voulantry terminate your PCP deal once 50% of the credit has been paid off.. My example: BMW after 30 months Residual Value =£22,000 settlement =£27,000 consequently saved £5,000 to give it back. Plus if i went in to BMW i would get a discount on a new car. I...

vwcaliforniaclub.com

 

[Nik Boyd]

PCP & Voulantry Termination

You may be aware of the option to voulantry terminate your PCP deal once 50% of the credit has been paid off.. My example: BMW after 30 months Residual Value =£22,000 settlement =£27,000 consequently saved £5,000 to give it back. Plus if i went in to BMW i would get a discount on a new car. I...

vwcaliforniaclub.com

Thanks, I was sort-of aware of it - going to see what the dealership come back with, they have been trying to buy both my vehicles back off me recently - despite only owning one of them for a year!

 

[andyinluton]

Nik, search my post:

pcp & voluntary termination

may give you wriggle room

You would be mad to do a VT on a California at the moment. To do a VT you have to have paid half of the total agreement amount. If that was a £50k cali + say £10k interest it means you've already paid £30k. If you havnt already paid half you would have to top up your existing payments so that you have paid half.

Why on earth would you consider walking away with nothing? The absolute most the settlement figure would be is the other half ie £30k probably a rebate as well for settling early so call it £29k.

So you can either walk away from the van by doing a VT & just give them the keys. You just need to do an early settlement - finance should give you a figure over the phone instantly.

You've then got 2 options:
Trade it in - best guess from one photo without knowing the details other than its a T6 4 motion is that you should be looking at a trade in value of at least £50k ( it might be £60k) so dealer settles the remaining £29K finance & gives you a £21k deposit.
Or you sell privately for £55k settle the finance & have £26k left in your hands.

The chances are your van is still worth very close to what you paid for it, if you bought well it may be worth more. Don't accept the first trade in figure either, my van was worth over £10k more at one dealer compared to another, the trick is finding best trade in combined with best discount.

 

[pjduffill]

Andy, you may well be right on a Cali however the deal on my BMW meant I handed it back in my favour. It also allowed me to get 10% off my Cali and Cali upgrades.

obviously won’t work in all occasions but exploratory look, research and calculations all play a part.

also I understood the poster was looking at options for further down the line?

 

[Nik Boyd]

I've got plenty of time to explore all the options, including talking to dealerships all over the place once I've pinned down spec. I *think* its worth 55 - 58k at the moment - is in decent condition, once cleaned! Its a pretty highly spec, we use it in winter so had a lot of options including the heating, which wasn't standard at the time.

I'm assuming they will offer a trade in deal, especially as they keep contacting me about it.