Help please Pcp contract return

[Drebin2003]

Hi everyone I’m sad to say that I’m thinking of getting rid of my 16 plate cupra because I’m losing the use of my legs and only done just under 8k in 2 1/2 years and got less than a year left on my contract so my question is if I want to give it back how do I do it??!??

 

[bgb]

Sorry to hear your situation, best advice I can give is call your finance provider.

Have you checked how much you may get for your car if you sold privately? This may be a better way to go then hand back and cut loses.

 

[Hag]

Im sorry to hear your news. Chances are if you ring VWFS due to the circumstances they would void the contract and take the car back. As already mentioned might be worth seeing what it’s worth compared to your settlement figure and selling it that way


Sent from my iPhone using Tapatalk

 

[Orguss]

Sorry to hear that, as above best looking at private sales first then checking with VWFS for a good will gesture for getting out. However if you check the PCP contract it will state that once you're 50% or more through the contract you are within your rights to hand back the car at no cost other than damages beyond wear and tear.

 

[Hag]

You do have to be past the half way point of total amount payable not just half way through the years


Sent from my iPhone using Tapatalk

 

[JonnyG]

The easiest way would be to sell your car now to a secondhand dealer. Ring around and get some valuations.

Your PCP contract you signed will be with a finance company. You are entitled to pay off the remaining amount owed at anytime. You don't have to wait until the end of the contract length. Just ring them up and ask them for a "Settlement Value". They are then obliged to send/email you a letter stating how much you owe to pay off the car (its valid for around 3 weeks) . You then tell the secondhand dealer you have outstanding finance that you want them to pay off and give them a copy of the settlement value letter. You will get any extra positive balance.

So lets say for example your car is worth around £11,500 and the best secondhand dealer offers you £11,400.

and lets say your settlement value is £10,400.

You sell your car to the secondhand dealer and they pay the £10,400 to your finance company and £1000 to you.

If you have £10,400 cash lying around you could just settle the finance yourself and sell the car yourself.