PCP negotiations at 17, with no income and history of paying anything up

[W.Henry]

Hi, I traded in my first car for about £10k to upgrade to a bigger car. I put some of this money into a PCP contact of a car valued about 30k with the same car dealer. I began negotiations before I was 18 therefor had to wait until my 18th birthday to sign the contract where my car was already waiting for me to go at Glasgow Audi. I had 0 income during negotiations and when I signed the contract. After a year of paying £375 a month I was in arrears and now sitting with a terminated contract, no car and 8k debt. Does anyone know if I can get out of this? Thanks in Advance, William

[W.Henry]

Thanks in Advance, William*

[R0b]

Something doesn't quite add up here. No lender would agree to a PCP agreement for a 17 year old who has absolutely no income, that's just a fact. So the question is either you gave false information as part of your application or the sales person did. If the former, I have no sympathy for you but if the latter then you need to prove it (given that you haven't mentioned that I suspect its the former).

It's not clear how you managed to make the £375 month for a year then suddenly stopped but whatever the case, I can't see a way out for you and you will just have to live with it. You might want to hope and pray they don't issue legal proceedings for the debt because that will land you with a County Court Judgment for the next 6 years which will affect everything including certain types of jobs.

Next time, get a car you can afford.