PCP Decision Time

[Tannaton]

Originally Posted by pagan8c

It is only worth buying if the value of it is the same as the balloon payment or more because if you buy it and it is worth less than the balloon payment you are paying them too much. It is all about the figures in the long run and if you are already £1 or 2 grand down by buying it from them you might as well just give it back (as you will get the guaranteed value allowed and not the actual trade value if it is less) and use that money to put into a new PCP. At least that is how I see it but I stand to be corrected.

I agree with what you are saying - sometimes in the PCP there is a price documented at which you can buy it. If not it might get tricky as the dealer might have first option to buy the car from the finance company any if it's nice and low mileage they will probably want top dollar.

Hence I would suggest if the OP does decide to try and buy it that he contacts that finance company first (if that's possible...)

[davB]

Thanks all for providing some very useful insight.
I'll contact Santander Finance about the options available to me, although the paperwork clearly says there is one last (optional) payment of £16.5k.
As for Polestar - it looks like it is not available for my model (D4 FWD), which is a shame given the discount at the moment.
I will certainly go see the XC40 model which should arrive at the dealer in mid December, but I suspect I'll not place an order.

[davB]

Current car has 1 year warranty and free servicing left - will consider extending the warranty for another year

[Considered1]

Polestar most definately available my friend, I had the same engine as yours seen several other done too..

Santander were really good when I called them up to say I might be selling mine they lifted their "marker" on the car and told me it was a Personal Loan all along, just with a final payment, which if you make to them the car is yours.

Dont let Volvo knock £6k of what they would sell your car for by trading it in as others have said its lost a lot and will get better with age..