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Hi there, looking for advice and where I can turn to next in terms of my PCP which is crippling me and I can no longer afford.
I have done a fair bit of reading but I can’t seem to see what I can do next. In my PCP I have been given a settlement figure of £12,879. My car is only worth approx £9,300 based on recent valuations and some of my own homework. This leaves me with approx £3,579 which I would have to cough up before I just have them the car back and ended the agreement.
Another option is voluntary termination, however I have not yet paid 50%. Is it an option to do this, but still pay off what I owe towards the rest of the 50%?
All in, all fees etc etc, the agreement was £21,015 to pay back. Thus far I believe I have paid approx £7,100. Again, leaving approx £3,400 difference. These are all approx figures as their online app to check exact payments owed and due etc is absolutely tosh.
I have read read in some forums that people have simply “handed back” the car to the dealer. I have explored this option yet as I have no idea what my rights or their rights would be!
Oversll the car is in great condition, fairly low mileage, no cosmetic damage.
My life has changed dramatically in these two years and I can no longer afford over £300 per month on a car so I pm desperate to just get out. I have no idea what I can do.
Please let me know if you need any further information.
Kind regards,
Abbie
I have done a fair bit of reading but I can’t seem to see what I can do next. In my PCP I have been given a settlement figure of £12,879. My car is only worth approx £9,300 based on recent valuations and some of my own homework. This leaves me with approx £3,579 which I would have to cough up before I just have them the car back and ended the agreement.
Another option is voluntary termination, however I have not yet paid 50%. Is it an option to do this, but still pay off what I owe towards the rest of the 50%?
All in, all fees etc etc, the agreement was £21,015 to pay back. Thus far I believe I have paid approx £7,100. Again, leaving approx £3,400 difference. These are all approx figures as their online app to check exact payments owed and due etc is absolutely tosh.
I have read read in some forums that people have simply “handed back” the car to the dealer. I have explored this option yet as I have no idea what my rights or their rights would be!
Oversll the car is in great condition, fairly low mileage, no cosmetic damage.
My life has changed dramatically in these two years and I can no longer afford over £300 per month on a car so I pm desperate to just get out. I have no idea what I can do.
Please let me know if you need any further information.
Kind regards,
Abbie
