VT on a PCP - How do I calculate the point at which 50% is paid

[Dougster]

R0b I wonder if anyone can help answer this.

I am 26 months into a 48 month PCP agreement with Audi Finance and my circumstances have now changed and i wish to VT the car.

My monthly payments are £380 and I have made 26
I put a deposit down of £2500
The GFV is £15,993.75
The amount originally due from the finance company according to my purchase invoice was £30,599.43 (obviously this didnt include interest a rough estimate would be £34,233).

If I VT now how much can VWFS make me pay, assuming the car is in good condition?

I have read a number of forums and I appear to have just confused myself.

Many thanks in advance

[R0b]

50% of the total price payable inclusive of interest.

Based on the figures given you've only paid £12,380 whereas the 50% mark would be £17,116.80. Of course you can terminate at any time and you would be liable to pay the difference which would essentially become a debt.

Otherwise you have another 13 payments to reach the magic 50%.

[Dougster]

Thank you Rob, very helpful