![]() The majority of PCP deals were written to leave a small profit on the residual value which dealers would use to fund your next PCP deal. This may be particularly relevant to your finance decisions on a new car if buying a petrol or diesel just ahead of 2030’s proposed ban. In the rare cases that your car is worth less than the settlement on a PCP, but it is in otherwise good and expected mileage condition you can hand it back and that’s the end of the agreement. ![]() If you choose to part exchange (or pay this figure to keep the car) you are not liable for excess mileage charges or damage repairs, though your part-ex value will naturally reflect changes in condition. Your paperwork will include the settlement figure, often referred to as a minimum guaranteed future value, but that is not necessarily the value of the car. Most main dealers will be swift and effective here, some independent dealers can be a little slow to clear the finance, so watch out for being left with a liability. If you part exchange, this will be handled for you.
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