Nine out of ten new cars are purchased through PCP funding, as well as hundreds of thousands of used models per year. In addition to lower monthly payments than rental-sale or traditional bank credit, PCP offers you several options at the end of the agreement – so you can buy, return or exchange the car for a new one. This assumes that you have made all the monthly payments due, met the mileage limit, not damage the car (beyond fair wear) and maintained the vehicle in accordance with your financing agreement. No, you don`t, even if you`re most likely taken care of by the seller. You want your case back. Merchants regularly contact customers and, if not, they should tell them their options at the end of the financing agreement. It is likely that this will continue with the current coronavirus crisis. Our message would be: talk to your dealer first to see what your options are. Hello, Laura.
The value and billing of your current car is calculated when your new car is ready. If you are in January, you should be able to partially replace the Audi without negative equity, as your PCP is at the end and you can return it to the financial company. However, if the new car arrives earlier (z.B November), then you are still responsible for the negative equity at this point. Circumstances change, and if you have problems with your income or employment, your PCP agreement may no longer be affordable. It is better to try to renegotiate your contract rather than go into debt. The PCP agreement was signed the day before the car was received, so how are they going to pay for exactly the excess kilometres? I can say that it is impossible? Hello, I hope someone can help you. I recently arrived at the end of a PCP agreement with Audi, they say that the option to purchase fees is payable, which can and is only an „administrative fee“. I think it`s a mistake and I have to be due if I keep the vehicle and pay the balance. All thoughts. But don`t forget that you can use any capital — where the car is worth more than what`s left to buy directly — by returning it to the manufacturer and entering into another PCP contract, as with Option 3 below.
Good morning, Marie. A PCP agreement is calculated to provide a neutral or positive equity position at the end of the agreement. If you want to change your car earlier, you are normally in a negative equity position. You need to check whether the proposed agreement is worth paying money to terminate your current agreement. Hello, you have given 3 options on your site, but there is no fourth option. Termination of the contract if you paid more than 50% of the value of the loan. You give the car back and leave and if you exercise reasonable caution, you pay nothing else. Can`t that affect your credit rating, except for the company with which you have this financing? Hello Stuart we arrive at the end of our agreement on the 24th of this month and have decided to return the car, but no one has been in contact with the collection of the car. The financial company are not much help when I call him to tell him it takes a few days to settle, but it`s now more than two weeks of trouble is we leave for 2 weeks on Saturday we can give log etc. to father in law for collection or we have to be there physically.