any one able to help with new car pcp info?

[seaneylad]

Morning all,

 

I beleive you can have a PCP car finance car back after paying half?
If that half the value of the car, or half the vavlue you agreed to pay in the term?

Info i have:

 

Vechile cash price £8,667
Less Advance payment (deposit) £500
Amoung of credit £8,167

Small print (total amount payable (comprising the advance payment,amount of credit, acceptence fee, interest and option to purchase is £9,882)

 

Monthly repayment £139
Payment term 41 Months

Final Payment £3,757

I took policy out 17/10/2013
Ends 17/02/2017

 

My current settlement fee to buy the car is coming out at £5,800

Can anyone help or give me some advice ... Trying to work out if i can hand it back or best to run the term? Thanks

[The Transplanter]

You can hand it back but it will depend on the vehicles current trade value (what the dealer if prepared to pay for it). if the car is worth £4k you will have to pay £1800 to get out of it. But on the other hand if the car is worth more than what you owe, then the buying dealer will settle the finance and give you the difference.

 

 

Without seeing the agreement there may also be penalties to end early. Is it on Ford Options?

 

Best thing to do is ring the finance company direct, I think Ford use FCE (Prudential), but will be on your docs your signed anyway