PCP ends soon but I can't get an accurate valuation - are used car prices fluctuating a lot?

I have a high spec, low mileage (20,000) 2016 BMW 4 Series Convertible and wish to maximise my car's value at the end of its PCP agreement (£15,5000, early June 2020) but at the moment it’s impossible to get an accurate valuation on my car. I'll use the money to put towards two vehicles that I need to get. Worst case scenario, I walk away with no money owing. The issue is, if prices of used cars increase then maybe I should wait to maximise the offers for my car, but end up paying more for the two replacement cars. Should I strike now and reserve the cars and gamble that I can get the best of both worlds? I hope that makes sense.

Asked on 1 May 2020 by Gareth Jones

Answered by Dan Powell
The coronavirus outbreak is going to cause a few temporary fluctuations in the used car market. I imagine your PCP provider will wait until the very last moment before giving you an accurate valuation.

Keep pestering them. And be mindful that the latest FCA guidelines will protect you if the value of your car experiences a temporary decline due to the COVID-19 outbreak: www.honestjohn.co.uk/news/coronavirus/2020-04/coro...e
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