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PCP and getting out of the contract


sl114

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Does anyone know when you can get out of the PCP contract? I know on some finance deals you can hand the car back when you are in positive equity with the finance company or pay a settlement figure, however are there other ways to get out of the deals without blacklisting yourself?

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I had over 12 months on a pcp plan and he only way out for me was to pay it off :scare: ......anything else is deemed dodgy if you know what i mean ;)

did you pay off the full amount including the final payment, so end up paying more than the car is worth or some other figure?

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Does anyone know when you can get out of the PCP contract? I know on some finance deals you can hand the car back when you are in positive equity with the finance company or pay a settlement figure, however are there other ways to get out of the deals without blacklisting yourself?

 

Has it finally sunk in that you bought a Fiat 500? :lol:

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I had over 12 months on a pcp plan and he only way out for me was to pay it off :scare: ......anything else is deemed dodgy if you know what i mean ;)

did you pay off the full amount including the final payment, so end up paying more than the car is worth or some other figure?

 

Well with my contract there wasn't a final payment sum it was just a regular month payment. But if i was to carry on with the contract at that point i would of had the option to buy it or give it back. At the time of deciding what to do i searched through pages and pages about how to get out of a pcp contract but all i came back with is paying it off is the only real option without landing your self in financial trouble

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I am pretty sure they load the depreciation to hit early so you may be losing a lot of cash if you hand it back Louis.

 

This is what i am worried about, i guess the only way is to see what a resettlement payment will be.

 

Does anyone know when you can get out of the PCP contract? I know on some finance deals you can hand the car back when you are in positive equity with the finance company or pay a settlement figure, however are there other ways to get out of the deals without blacklisting yourself?

 

Has it finally sunk in that you bought a Fiat 500? :lol:

That and i can afford something a bit better now so i want to look at something else within the year :thumbs:

 

Well with my contract there wasn't a final payment sum it was just a regular month payment. But if i was to carry on with the contract at that point i would of had the option to buy it or give it back. At the time of deciding what to do i searched through pages and pages about how to get out of a pcp contract but all i came back with is paying it off is the only real option without landing your self in financial trouble

 

That is similar to mine, i mistyped that, there is a final value of the car if i either trade it in for a new car or want to buy it back off them.

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