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PCP Contract termination -Toyota Finance

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  • #1

    PCP Contract termination -Toyota Finance

    I currently have a 40 month PCP contract with Toyota Finance, on an Auris. The half-way point in the contract will be after I make the 30th payment on the 28th June, 2019. My questions are as follows:
    1. If I pay the June payment early, can I then give notice of termination?
    2. Do I need to give a reason for termination?
    3. The contract states that there is a £100 charge for collection of the vehicle. Am I truly liable for this charge?
    4. I have looked at the termination letter templates and they refer to an HP contract. Are these templates applicable to a PCP contract?
    Any help that can be given, will be very much appreciated.
    Tags: None
  • #2
    PCP is a variation of HP, same rules apply. The link below answers the rest of your questions.

    https://legalbeagles.info/forums/for...on-your-rights

    If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
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    LEGAL DISCLAIMER
    Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.
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    • #3
      Originally posted by R0b View Post
      PCP is a variation of HP, same rules apply. The link below answers the rest of your questions.

      https://legalbeagles.info/forums/for...on-your-rights
      Hi, Thank you so much for the quick response. I have now read the complete details which you kindly sent me a link to. I have a separate question with regard to my own contract with Toyota Finance, which I cannot see the answer to in the guide.

      Can I pay the payment that takes the total paid over the 50% level, earlier than it would be due under the terms of the contract. i.e. The 30th payment is due on the 28th June, 2019. Could I pay this earlier, which would allow me to voluntarily terminate the agreement? I could then give the finance company an earlier notice.

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      • #4
        Originally posted by Fspencer View Post

        Hi, Thank you so much for the quick response. I have now read the complete details which you kindly sent me a link to. I have a separate question with regard to my own contract with Toyota Finance, which I cannot see the answer to in the guide.

        Can I pay the payment that takes the total paid over the 50% level, earlier than it would be due under the terms of the contract. i.e. The 30th payment is due on the 28th June, 2019. Could I pay this earlier, which would allow me to voluntarily terminate the agreement? I could then give the finance company an earlier notice.
        You dont have to have paid 50% before you VT, you can VT now, and pay the amount earlier, nothing stopping this
        I work for Roach Pittis Solicitors. I give my free time available to helping other on the forum and would be happy to try and assist informally where needed. Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability.

        If you need to contact me please email me on Pt@roachpittis.co.uk .

        I have been involved in leading consumer credit and data protection cases including Harrison v Link Financial Limited (High Court), Grace v Blackhorse (Court of Appeal) and also Kotecha v Phoenix Recoveries (Court of Appeal) along with a number of other reported cases and often blog about all things consumer law orientated.

        You can also follow my blog on consumer credit here.
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