Hi Kevin,

The difference between the market value and the Guaranteed Minimum Future Value (GMFV) in your case is €6,000, as the car is worth €16,000 and you would have to spend €10,000 to buy it from the dealer, as things stand.

So €6,000 is a decent chunk to put down as a deposit on a new vehicle, which should nicely kick off another PCP. A quick search shows that Nissan is currently doing 3.9 per cent APR on its PCP deals and a roughly €8,000 deposit plus 10,000km per annum for three years results in a monthly bill of €256 on a new Qashqai. Using your deposit and higher annual mileage, you should still be able to get into the Qashqai for around €300pcm, so check out the Nissan as a potential next family vehicle.