Voluntary termination of PCP agreement, is it 50% of the car value or 50% finance

[NJS76]

Hi all,

just joined and need some advice. I am moving abroad shortly with work and need to VT my PCP agreement with Audi. The main question I have is. Do I need to reach 50% of the cars value or 50% of the value of the finance agreement?

thanks for any advice you might have.

[Kati]

Re: Voluntary termination of PCP agreement, is it 50% of the car value or 50% finance

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[bblnr88]

Re: Voluntary termination of PCP agreement, is it 50% of the car value or 50% finance

You can use voluntary termination however you need to must have paid for 3 years if the loan is for 5years

[Amethyst]

Re: Voluntary termination of PCP agreement, is it 50% of the car value or 50% finance

It's 50% of the total amount payable under the credit agreement ( so could be 30 months of a 3 year term loan it really depends on the specifics of the loan )

If you have the agreement handy it should state it on there, something like



or

[NJS76]

Re: Voluntary termination of PCP agreement, is it 50% of the car value or 50% finance

Thanks for the info, a bit of context would have helped at the beginning from my side.. the term is 48 months at 370 a month. I have paid up 22 months of the term and the finance agreement is for approx £17,800. My payments total over 8,000 but Audi are saying I need to find just under 7,000 to reach the mid point of the term. This is what makes me question if I need to get to 50% of the finance term or 50% of the value of the car.. if it is 50% of the finance agreement I am almost there!!