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Need knowledge about car purchasing

(4 Posts)
C4Envelope Mon 16-Jan-17 10:29:50

We have a car currently on finance. We pay 169pcm and it costs a fortune to run and tax (big old car 3litre engine). I have just seen a car that i would like to have instead - 0 road tax and great MPG it is on a pcp deal With 299 deposit and 169pcm ... So although we will be paying he same each month we will be saving a fortune on tax and fuel and insurance too no doubt as its a smaller engine and newer car.
My question is - how do I go about getting the car. Our current car still has a few years until it is paid off or can we just return the car and thats that? Surely there will be a charge for ending he agreement? Help please!

cozietoesie Mon 16-Jan-17 10:41:17

I'd maybe have a read of this including all the links. (It's at least a couple of years old but still relevant, I think.) Is the new car with the same people you had the current one from? And do you have all the paperwork to hand?

C4Envelope Mon 16-Jan-17 10:48:58

Thank you for the link, yes it will be the same company but a different outlet. The documents are all filed away. Having read that article from the link I am going to start the process now as it seems to be more complicated than I originally thought. Since taking the car on two years ago we have had new tyres fitted and a new battery fitted. So we have put a lot of money into it for nothing really.. Our circumstances have changed a lot so we need to be better at controlling our finances and managing our outgoingsz

Rockchick1984 Mon 16-Jan-17 13:33:53

Just be aware that on PCP you would have a large payment to make at the end of the finance term if you want to keep the car. It's fine if you decide to keep changing the car but then it's never paid off.

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