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Hi all,
I'm almost at the end of my PCP agreement (ends July 2019) and I have got a really good deal on a new car even though I am currently in negative equity with my current car. The dealership I am getting my new car with has advised me to voluntarily terminate my current agreement with Kia Finance and is setting me up with a new agreement with Kia Finance. They have advised me that I can return the car to their dealership and swap over to the new car for convenience. But Kia Finance are saying that I cannot do that and need to drop the car off at an approved auction site. Is this normal practice? As I understand it, in these cases the new dealer will usually take the the car back and settle with the finance company without me needing to voluntarily terminate.
I am just concerned that I am going to be hit with outside wear and tear charges if I VT.
Any advice would be appreciated!
Thanks
I'm almost at the end of my PCP agreement (ends July 2019) and I have got a really good deal on a new car even though I am currently in negative equity with my current car. The dealership I am getting my new car with has advised me to voluntarily terminate my current agreement with Kia Finance and is setting me up with a new agreement with Kia Finance. They have advised me that I can return the car to their dealership and swap over to the new car for convenience. But Kia Finance are saying that I cannot do that and need to drop the car off at an approved auction site. Is this normal practice? As I understand it, in these cases the new dealer will usually take the the car back and settle with the finance company without me needing to voluntarily terminate.
I am just concerned that I am going to be hit with outside wear and tear charges if I VT.
Any advice would be appreciated!
Thanks
