[swallowfieldlad]

I have ordered a BMW with an AP of £4k.

Currently I have a BMW 2 Series Sport on PCP. Can I part ex this with the dealer to either cover the AP or get something out of the equity of the balance o/s? I have just under 2 years left on PCP having paid 50% (2 years already). Obviously I’ll get a Settlement figure from the finance company.
Appreciate any advice offered.

Topic

[BigDave]

swallowfieldlad wrote:

I have ordered a BMW with an AP of £4k. Currently I have a BMW 2 Series Sport on PCP. Can I part ex this with the dealer to either cover the AP or get something out of the equity of the balance o/s? I have just under 2 years left on PCP having paid 50% (2 years already). Obviously I’ll get a Settlement figure from the finance company. Appreciate any advice offered.

Yes, it is possible, albeit that is if the dealership wants your current car!

They are not under obligation to do part exchange on a Motability sale, but many will do it as it is a relatively easy and cheap source of a vehicle for them to sell on for profit. Plus they will get the fixed amount for the Motability sale.

Just ensure that the deal they are offering is enough to both clear all outstanding finance and provide you capital towards/for the AP of your Motability vehicle.

It may also be worth examining other possibilities such car buying services etc so you have a comparator to the deal being offered by the Motability dealer.

[MFillingham]

I tried to px my car when I started on the scheme.  Because the dealership had more than enough cars they weren’t buying anything so they didn’t buy my car and that was a relatively easy deal.  I had to go to WBAC who gave me a relatively decent price on the second try (always ask them if that’s their best offer) and the dealership then picked me up from there and took me to collect my car.

 

With the added finance complication, they may well be even less willing to take your car but, as with everything else, it’s always worth asking.  Ensure the sales person confirms with their manager, you don’t want to think it’s a done deal for them to decide they don’t want your car.  It’s also worth recognising because it’s a purchase, if there’s a long delivery delay, the price they offer for your car may well be very different from anything discussed now.

I'm Autistic, if I say something you find offensive, please let me know, I can guarantee it was unintentional.
I'll try to give my honest opinion but am always open to learning.

Mark

[Mossfinn]

When I ordered my current car late 2022, as we no longer needed two cars, I px our car which covered the AP of the new one.
I chose the dealership that was part of a group that had a dealership with my existing car as well as my new one. This means they had connections set up.

As you are trading in a BMW for another one, the only sticking point should be if you can agree a price.

Good luck.

[kdwolf]

If your current vehicle is on PCP, I think there’s a legislation, permitting you to terminate your current contract without penalty if you paid at least 50%. I just don’t remember if it 50% of a total value or of the payments only.

 

If it is 50% from the payments, perhaps it will be cheaper for you to handle your current vehicle back?

Sent from a mobile device.
Apologies for briefness and spelling mistakes.

Motability Skoda Enyaq SportLine 85x April 2024 (unhappy customer - Ombudsman pending)
Motability Mazda CX-60 PHEV July 2023 (unhappy customer - early termination on mechanical grounds)
Motability VW Touran Family Pack May 2019 (happy customer)

[Author]

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