My wife took out a 3 year PCP with Audi in September 2015 for a Q3. We paid a £3155 deposit and the PCP was based on credit of £29201.07.
Todate we have made 28 payments of £369.32 and wish to use the VT option. However when we check the Finance Agreement it quotes a termination figure of £18718.60 - a figure we won’t get to even if we pay the full 36 monthly instalments. They appear to have calculated this figure by adding the credit amount to the deposit, interest (at 6.12%pa), acceptance fee (£125) and option to purchase fee (£60). This makes a total of £37437.20 of which 50% is £18718.60?
The PCP was based on 8000 miles pa. The car has currently done just over 16000 so there are no excess mileage issues and it is in pristine condition.
is this correct? Does it mean we are stuck with the PCP for another 8 months?
rob Help?
Todate we have made 28 payments of £369.32 and wish to use the VT option. However when we check the Finance Agreement it quotes a termination figure of £18718.60 - a figure we won’t get to even if we pay the full 36 monthly instalments. They appear to have calculated this figure by adding the credit amount to the deposit, interest (at 6.12%pa), acceptance fee (£125) and option to purchase fee (£60). This makes a total of £37437.20 of which 50% is £18718.60?
The PCP was based on 8000 miles pa. The car has currently done just over 16000 so there are no excess mileage issues and it is in pristine condition.
is this correct? Does it mean we are stuck with the PCP for another 8 months?
rob Help?
Comment