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Ending a PCP

I'm about to end a three-year PCP with my local MINI dealer. The MINI Cooper S has had no problems but does have some slight damage on the rear bumper. Should I have this work done before returning the car, or leave it for MINI to fix when I take it back and accept their charge?

There is a gap between the final payment due. How does this work if I hand the car back and don't want another Agreement with them? Could I negotiate to have the repair cost paid out of this difference?

Asked on 17 February 2016 by NormRev

Answered by Honest John
If you don't have the work done prior to return you will be charged for it at full dealer price. A PCP deal usually gives three options: return the car undamaged and walk away; return the car and use any equity in it for the deposit on another lease; or pay the GFV and keep the car to re-sell or p/x.

I can't tell you what kind of deal you can do. If repaired, the dealer might take your car back and give you a £2000 deposit for your next PCP, so you will have to do some maths to work out where you really stand against the other deals. Unrepaired, he might swallow the damage but only give you £,000 towards your next car. I very much doubt that he will waive the cost of the repair it you take the walk away option.
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