Stuck upside down on PCP

[folklore2023]

Lately, I've been wanting something with more range and updated tech. Figured I'd get a valuation and maybe trade in for a newer model. Big shocker - turns out it's worth way LESS than what I paid new a year ago! Now I'm stuck underwater on my PCP deal. Feels like a total rip-off, especially with Mini offering discounts and 0% financing right now! Any advice on getting out of this situation?

 

[enigmaticember]

Be prepared for a new car to lose a significant amount of value as soon as you drive it away from the dealership. In the US, it's well-known that cars depreciate rapidly, especially right after purchase. This initial drop in value, along with any extra money you paid above the dealer's cost, can be a big financial hit.