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Terminating a PCP agreement with Nissan
Hiya,
I am looking to terminate the PCP agreement I have on my Nissan. I no longer need the car. I have been told I need to pay a shortfall of around £380 to get to the 50% of contract payable which I have no problem in doing but the confusion seems to be coming from the next part.
I have been told that once i've paid that shortfall I will be redirected to an external company called 'Manhime' who will then organise to 'inspect and collect' the vehicle. The car is in great condition but I have gone over the agreed 5,000 miles per year but approximately 15,000 miles. When I realised I was going to go over my agreed mileage I did contact Nissan and ask to change the finance deal and I was told I couldn't. I then tried again when I was 10,000 over the agreed mileage but again was told I couldn't and that as long as I was part exchanging the car with Nissan at the end then they could 'make it work'.
I am now in a position where I don't want to part exchange the car, the finance agreement has a further 11 months on it until I would hypothetically pay a balloon payment or re-finance or swap it in. I should have only done 10,816 miles but have done just over 26,000. Please can you advise on whether I should be paying the excess mileage or if actually legally I have no requirement to do so. If that is the case and Manhime request 'wear and tear' damages can I simply pay for the damages but not the excess mileage?
Thanks so much
Lorna
I am looking to terminate the PCP agreement I have on my Nissan. I no longer need the car. I have been told I need to pay a shortfall of around £380 to get to the 50% of contract payable which I have no problem in doing but the confusion seems to be coming from the next part.
I have been told that once i've paid that shortfall I will be redirected to an external company called 'Manhime' who will then organise to 'inspect and collect' the vehicle. The car is in great condition but I have gone over the agreed 5,000 miles per year but approximately 15,000 miles. When I realised I was going to go over my agreed mileage I did contact Nissan and ask to change the finance deal and I was told I couldn't. I then tried again when I was 10,000 over the agreed mileage but again was told I couldn't and that as long as I was part exchanging the car with Nissan at the end then they could 'make it work'.
I am now in a position where I don't want to part exchange the car, the finance agreement has a further 11 months on it until I would hypothetically pay a balloon payment or re-finance or swap it in. I should have only done 10,816 miles but have done just over 26,000. Please can you advise on whether I should be paying the excess mileage or if actually legally I have no requirement to do so. If that is the case and Manhime request 'wear and tear' damages can I simply pay for the damages but not the excess mileage?
Thanks so much
Lorna
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