As in, you started the new PCP with zero credit / deficit from previous contract?
My understanding of how this will work is:
Hand in old car;
Assuming it hasn't been abused, dealer will accept old car and use the value to clear the outstanding finance on the old car;
Agree new PCP on new car, including the need to hand over cash for deposit contribution for new car.
As in, you started the new PCP with zero credit / deficit from previous contract?
My understanding of how this will work is:
Hand in old car;
Assuming it hasn't been abused, dealer will accept old car and use the value to clear the outstanding finance on the old car;
Agree new PCP on new car, including the need to hand over cash for deposit contribution for new car.
It's the last part that can catch people out.