Quote:
Originally Posted by Nobby Clark
In theory yes. In reality, finding a car of the same spec, the time involved, dealing with an unknown and it's not worth it.
You also need to keep in mind, most people are judging negative equity against a dealer trade in price and not an actual private sale. and they are doing this well before the PCP end date which makes a huge difference.
My car, for example, at 2 years old was valued at £20k trade in according to BNW. On WBAC, which usually gives the lowest value, it's over £25k.
My reckoning is the GFV will be very close to a private sale price at the end of the day.
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Sorry, you just said negative equity. It isn't in negative equity if you can't buy one for less than the GFV. The trade in price is irrelevant in calculating negative equity if you want to keep the car. The price that matters is what it would cost to replace it, so I assumed that was what you were talking about.