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Car finance settlement

Home Forums Car finance Car finance settlement

This topic contains 1 reply, has 2 voices, and was last updated by Stuart Masson Stuart Masson 2 years, 6 months ago.

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  • #109856 Reply


    I have searched for a topic related to this but can’t find one. I’m realy hoping someone can help.

    Myself and my wife have two cars, both on PCP finance that we are trading in this week for a new Renault Kadjar. Both cars had a little negative equity but the dealer has rolled that into the deal. So two part exchanges for one.

    However, since agreeing the deal three weeks ago the settlements for our current cars have come down by a total of £500. I asked the dealer to adjust the new monthly payment accordingly but they have refused saying they will simply adjust the price of the part exchanges to match the new settlement figures.

    Is this fair? To me I should be seeing the benefit of that settlement reduction, not the dealer.

    Please can someone advise? Thank you in advance.


  • #109918 Reply
    Stuart Masson
    Stuart Masson

    Hi Ken. Your settlement figure should not affect the car’s value, so you are correct that your negative equity should be reduced and therefore you should be borrowing less money.

    Adding any negative equity to your new deal is not advisable anyway; it usually puts you into an even worse negative equity position for basically the entire duration of your next PCP agreement.

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