santander PCP

[gaz168]

I am new to this, so please forgive me if this has already been covered. But is 50% of the loan on a PCP paid after half of the payments have been made, EG. 24 payments made from 48 that the contract wss originally set up for.
I have checked my paperwork and cant find anywhere that quotes an VT or early settlement figure,

[Amethyst]

50% is of the total loan amount ( inc any deposit ) sooo paid over £5k of a £10k total due as opposed to 24 of 48 payments - depending on your contract it could be 24 months, or 40 months of payments - you account for your deposit in payments.

It should be broken down somewhere in the small print on the agreement though ? Who is the agreement with ?

[Amethyst]

haha It's Santander ! ( read the title )

https://www.santanderconsumer.co.uk/...on-Leaflet.pdf

Though Santander PCP covers lots of different brokers etc so that's just general - there should be something about terminating the agreement early in the terms.

[gaz168]

50% is of the total loan amount ( inc any deposit ) sooo paid over £5k of a £10k total due as opposed to 24 of 48 payments - depending on your contract it could be 24 months, or 40 months of payments - you account for your deposit in payments.

It should be broken down somewhere in the small print on the agreement though ? Who is the agreement with ?

does the final payment, the payment to buy the car outright have any bearing on the VT

[gaz168]

does the final payment, the payment to buy the car outright have any bearing on the VT