PCP early exit?

[topbloke]

I've got a A4, just discivered that due to soon to be more children I need a bigger car. I took out a PCP agreement with Audi in March this year and an A4 is no longer going to be big enough. Can anyone answer the following q's?;

- Is it possible to early exit a PCP? what happens to the deposit I put in?
- Can I sell the car privately and then settle any penalities?
- Are there any other options?

Any help greatly rcv'd

Top Bloke

[althommo]

Hi
Usually you can get out of a PCP early - you need to request a settlement figure from the Finance Company

• The only way to get your deposit back is to sell the car for more than the settlement figure - anything above it is yours to keep
• Technically the car isn't yours until you've settled the finance, so it should be done in that order (settle then sell) - you may find buyers unwilling to complete if there is outstanding finance (If you don't pay it off and they've paid you, they'll have a fight on their hands with the finance company for title in the vehicle)
• If you p/x at a garage they'll settle the finance on your behalf and any amount above the settlement figure can go into the new deal you negotiate

Hope that helps
Alan