Tweet
Hello! Seeking Advice on PCP & Voluntary Termination
Hi everyone, I have stumbled along the forum in search of advice regarding negative equity and my PCP policy as me and my partner look to change vehicle. I was wondering if Voluntary Termination is an option with a car on PCP or if that is only relevant for HP vehicles. I always knew there would be negative equity as we are two and a half years into the 4 year contract but we have recently been contacted by the dealership with various 'deals' etc. Car was bought for roughly £10'000 now valued at £5000 with £6000 remaining on the PCP contract. I feel like we were shown so much figures and deals and 'special discounts' yesterday at the showroom we left a bit bamboozled and not entirely happy with paying and extra £30pm for a newer car. Gladly we didn't sign or agree to the car on offer as we had advised we would sleep on it before committing. I think we would be happier getting out of this current PCP deal and start afresh with maybe HP or PCP on a 'nearly new' vehicle.
Bit of a ramble there and our heads are fried so any advice on the matter would be greatly appreciated. I have a feeling it will be most sensible to see out the payments on the current PCP until that negative equity is reduced and not be tempted by dealership offers on newer cars.
Cheers!
PolarBear91
Bit of a ramble there and our heads are fried so any advice on the matter would be greatly appreciated. I have a feeling it will be most sensible to see out the payments on the current PCP until that negative equity is reduced and not be tempted by dealership offers on newer cars.
Cheers!
PolarBear91
