Hello, Stuart, I have a question about the voluntary resignation of PCP. My son-in-law bought a car on PCP in January 2014. The car cost £12,000. All costs and funding amounted to £3500, the total cost of the deal is £15,500. 36 monthly payments of £193 and the final payment is £7,500. He and his partner are going to have a baby and she is going to take maternity leave, which means they will struggle to pay £193. He called the financial company to ask for an offer of voluntary dismissal, and they declared about 4,000 pounds. Now that I have looked at the paperwork, it says that the value of the early termination is £7,500. So, in fact, he must pay the full 36 months before he can voluntarily terminate, which in fact means that he does not have the right to terminate, he must continue to pay for the entire agreed term. I thought early termination would apply to the amount actually borrowed, which was £8k (including fees and interest), not the full value of the car plus all fees and interest? Is the car company right that he can only resign after 36 months or if he pays £4,000? Thank you very much.
The invoice amount is simply a calculation of what you still owe on your contract, taking into account any interest savings resulting from early invoicing. It`s not negotiable, just like you can`t really call your mortgage company or credit card company and offer to negotiate what you still need. These are your outstanding debts, based on what you borrowed, and it needs to be repaid somehow. RVs and traders can turn to the Black Horse Dealer Caravan Finance Team to ask questions and members can help you in all sorts of ways. In the North, you can call here the contact number 0774 743 4060 of the Black Horse Dealer Manager or send the requests via the e-mail address of Black Horse [email protected]. For the south zone, you can call the Black Horse Dealer Manager Phone Number 0777 494 7207 or contact the Black Horse e-mail [email protected]. The Black Horse Dealer Center can be contacted for any inquiries via Black Horse`s email address [email protected] and the advisor will be more than happy to continue to help. The Black Horse dealer sales team can send requests by email black horse (north) or [email protected] (south) or by the Black Horse sales number 0777 476 7643 (north) or by the Black Horse sales number. 0778 961 5679 (south). The contact details of the agents of the black Horse Dealer Accounts team for different regions are listed below – Hello Paul. You should be able to voluntarily terminate the contract and return the car, since you should have refunded more than 50% of the total amount to be paid.
It has no influence on your creditworthiness, as it is your legal right (read the linked article for more information). A PCP is a cash flow agreement because you don`t intend to keep the car, but such a high interest rate is still relevant as it significantly increases your monthly payments. I would have thought you could get financing at a much better price – try with another VW dealer or other financial companies like Santander or Black Horse. Hello Stuart, my daughter has a VW Polo 1.2 on a pcp 3 years….