End Of Term Lexus Finance (pcp)...your Options..

[illestjt]

Hi

Coming to the end of the PCP deal, and new replacement car has been ordered and arranged.

Slight delay on delivery, which leaves me 1 month without the car however circumstance have changed with my self so question is..

Has anyone, or heard of anyone renegotiate to keep a PCP car for another year with lexus? is this a option?

[Parthiban]

Not really sure, but can't see why not - always worth asking :)

[ihpj]

I think, technically, you cannot extend a PCP as it is a fixed price/term agreement. You could negotiate something if you're on a Lexus PCP and buying an other Lexus vehicle. I'm sure something could be done :)

[lexus79]

I recently negotiated the PCP and they refinanced the baloon payment over a period of 3 years. I think you have an option of 2/3/4 years. You can refinance the baloon payment or final value of the car for 3 years(so that monthly payments are less) and by all means return the car after one year without any penalty. (they will calculate the diff between market value and the outstanding finance on the car when you return).

The revised agreement gives you the flexibility to return the car without any conditions i.e. no restrcition on mileage..BTW, this was with Lexus Financial Services...

Javz

[simon k]

I recently negotiated the PCP and they refinanced the baloon payment over a period of 3 years. I think you have an option of 2/3/4 years. You can refinance the baloon payment or final value of the car for 3 years(so that monthly payments are less) and by all means return the car after one year without any penalty. (they will calculate the diff between market value and the outstanding finance on the car when you return).

The revised agreement gives you the flexibility to return the car without any conditions i.e. no restrcition on mileage..BTW, this was with Lexus Financial Services...

Javz

surely your paying well over the odds doing it this way, i bet if you work out your initial pcp deposit and repayments up until you re - financed the baloon payment, then your new payments until the end of the new term your paying one hell of alot more if you had just bought the car over 3 years on finance rather than 5/6/7 years the way you have done it?