Vw PCP questions

[Thomas Powell]

Just wondering people's experiences on personal contract plans.
All these figures are aprox,
With £15000 (max deposit I believe ) and monthly repayments of around £500 after 42 months I will then have 3 options 1, give it back 2, give it back and get another one 3,settle the outstanding balance of around £20000 ish.
If I was to sell it privately or part ex it surely the value of a 42 month old calafornia valued at more than £20000 I could then sell it and have s bit of cash left over, if this was the case with a normal car it's value would have gone down a lot and it wouldn't be worth more than the outstanding balance!
Any way hope every one understands what Im saying.
Just looking for people's experience with it.
Thanks again

 

[SteveM]

That's the idea .... I have just swapped my beach for a new one. My PCP deposit was 10k with a final value of £15700. My part ex value was 26k after 42 months (with a decent discount off the top of the new one) so basically I have retained my 10k over the period. Residuals are hard to judge - but I don't see why yours would not be worth a figure starting with a 3 at the end of your 42 months.

 

[Thomas Powell]

Thanks for the reply steve m.
Does any one actually give it back for the outstanding few I wonder? And make a loss?
Where they ok when you swaped for a new one fussy on condition etc?
Haven't actually bought one yet just weighing up ideas.

 

[SteveM]

I guess they assessed it as a part exchange and would have offered less had it been in worse condition. I think the idea of the PCP is to ensure there is at least some deposit left so you can role forward into another PCP. I suspect it is very rarely better to just hand it back as you say.