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Good evening,
I have been a long time reader of the forum and found so many of the threads really useful - so a universal 'thank you'! The time has come however where I would now like to ask for some more bespoke advice.
My partner has a car on PCP with Mini... it's a Mini.
The basics are as follows:
Commenced on 30/01/2018 for 48 months with an agreement APR of 2.9%.
She paid a deposit of £8953.32 and has so far made 25 payments of £284 (totalling £7100).
The overall amount is £18082.40 and there is an 'optional final payment' of £6143.81.
We wrote to BMW/Mini finance to request voluntary termination as with the deposit and her repayments she has paid £16053.32 off... surely that has to be over the 50% even with the APR.
Mini have today responded essentially stating they cannot accept the VT without a payment of £2645.91. They have not been clear about what that final fee is for...
Am I missing something blindingly obvious here? I wanted to seek some advice on this before we respond.
Many thanks for reading this far.
I have been a long time reader of the forum and found so many of the threads really useful - so a universal 'thank you'! The time has come however where I would now like to ask for some more bespoke advice.
My partner has a car on PCP with Mini... it's a Mini.
The basics are as follows:
Commenced on 30/01/2018 for 48 months with an agreement APR of 2.9%.
She paid a deposit of £8953.32 and has so far made 25 payments of £284 (totalling £7100).
The overall amount is £18082.40 and there is an 'optional final payment' of £6143.81.
We wrote to BMW/Mini finance to request voluntary termination as with the deposit and her repayments she has paid £16053.32 off... surely that has to be over the 50% even with the APR.
Mini have today responded essentially stating they cannot accept the VT without a payment of £2645.91. They have not been clear about what that final fee is for...
Am I missing something blindingly obvious here? I wanted to seek some advice on this before we respond.
Many thanks for reading this far.
