Good morning, James. Unfortunately, you can`t enchant your existing financial commitments, and your father can`t withdraw PCP on your behalf. Read this article: How to innicize an early PCP? Voluntary termination of a PCP (depending on where you are in your current PCP, can this apply to you) Can I take funding for someone else? It is quite possible that you will not be able to get a mortgage if your other financial commitments are too high, you may need to rent a place until you can reduce your expenses and/or increase your salary. Hey, Lou. Manufacturers are going to make better deals for new cars because they want you to buy a new car rather than the one they built and sold four years ago. As such, they subsidize/de-fund new car offerings through reduced deposit and APR dues. Used car financing rates are generally not subsidized, meaning that the new car could cost twice as much as the price of the uesed car, but the monthly payments could be much less than double those on the used car. Everything is aimed at pushing people towards new cars instead of using them. Hey, Clive. We are sorry to hear your loss.
Unfortunately, in a PCP, there is no provision for this scenario, which means that the money is always owed to the financial company. If the car is sold, then any shortfall in the estate would be claimed like all other unpaid debts. If the financial company allows you to refinance in one way or another, it will probably be considered a new application and will therefore reassess your rating. Whether they take into account your correct payment history or not, is probably an individual issue. Good morning, Mark. There are no decent PCP calculators, as payments are entirely dependent on GMFV. The financial company determines the GMFV on the basis of the specific model (and it can vary considerably depending on the engine/transmission/specification, the lifespan, options and accessories of a given set of models. These GMFV calculations are strictly confidential and are regularly reviewed. As a rule, this is not an algorithm, but rather a specific calculation with some standard basic supplements (z.B. with metallic color improves the X GMFV over 36 months). It is essentially impossible to replicate this in your own research. Hey, Noel.
We recently addressed this issue on our forum (click here), so look at this. In short, yes, you should be able to do that. You can pay the financing at any time during the agreement, but the guaranteed value only applies at the end of the term. Automakers and dealers are weighing on PCP financing quite harshly.