Could I be quids in with my PCP?

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What Car? Staff
08 November 2011

Q Could I be quids in at the end of my PCP?
I'm buying my next car using a Personal Contract Purchase (PCP). Will there be any money left over at the end of the agreement?
**A Dewar, via e-mail

It's possible, but unlikely. At the end of the contract, if the car's market value is more than you owe, there will be equity in the vehicle. To get hold of this you either have to settle the debt first and then sell the car privately, or trade it in.

Having money left over at the end of a PCP is rare, though. It'll depend on the condition and mileage of your car, demand for that model and what the finance company estimated the car's guaranteed future value as when the agreement was set up.**