VT with less than 50% paid

[Milo182]

Hi all

I have a PCP with Volkswagen Financial Services for an Audi A1 which is just about to end, my final payment being due on 1st October.

However, I have just agreed a lease deal also through VFS for an e-Golf and am expecting the car to be delivered in the next couple of weeks.

I don’t want to pay for another month for the Audi when I will have my new car, so was going to VT the contract, but have just double checked and I am literally £35 off reaching 50% of the total amount payable.

I understand that if I want to VT it I have to inform them at least one day before the final payment is due, but I have to pay the final payment to reach 50% of the total amount payable?! Or can I just call them up and pay £35 to reach the 50% of total amount payable (although I am guessing they won’t like this because they won’t want me to VT my contract).

What are my options?

Thanks in advance

[Amethyst]

You can pay it up. You can hand the car back at any point but you are still liable for the 50%. So you can VT now and pay the shortfall to reach 50% when your next payment would have been made.

[Milo182]

Brilliant, thanks Amethyst.

Should i I use the VT template letter but just tweak to say ‘there is a shortfall of £35 to reach 50% of the total amount payable which I am willing to pay’?

Appreciate your help!