Hi,

There have been success stories from people securing finance whilst in a Trust Deed but it can come at a cost in terms of the high interest rate that you pay if the finance is in your own name.

It’s always a good idea to shop around and be honest with any car dealer about your finance. You could also look at a lease option rather than PCP. Plenty of lease companies online to have a look at.

Alternatively a friend or family member could help out by taking finance in their name and allowing you to make the repayments. This could result in cheaper interest rate and more affordable payments per month.

It’s something at the point which you decide to go ahead with to run past your Trustee to ensure that they are happy. If your continuing with the same payments per month as you were making for your current car I can’t see there will be a problem.

Hi all I am in the same position. My pcp deal end this month and I still have 6 months on my trust deed. My finance deal is with MotoNova has anyone been able to extend there current finance deal with this, or other finance company?[:)]

Hi Jimuc

There is usually a clause in our PCP agreement detailing options when you reach the end of your agreement.

As swandog has stated, I have also heard success stories of the car dealer being able to secure alternative car finance.

Good luck both .

Hi Sharon, can you confirm if the finance was available while still in the PTD or when it was concluded?

I got Finance while in a PTD BUT the interest rate was shocking 49% infact.

If you can get someone to take a loan for the balloon payment or finance another car do that. Remember being the registered keeper of a car does not make you the owner (if it is over 3K)

Thanks to all for the advice from the original post.
[:)]