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Hi folks, just a quick hello as recommended. My (our) issue is regarding pcp with our car. Our circumstances have changed and we were planning on trading in for a cheaper car.
Dealer informed us it has negative equity, mileage will be exceeding the proposed limit and we'd be facing a large payment to clear the negative equity and then the excess mileage if we see out the remainder if the agreement.
We are now looking at options regarding terminating the agreement early. From having a quick look on the forum, i think we need to pay 50% of the total amount payable, but the excess mileage seems more of a grey area. We will start by asking the finance company to adjust the proposed mileage and see how it goes from there.
There looks to be plenty of excellent advice and pointers here too, so ill be spending some time looking through these pages. Thank you in advance.
Dealer informed us it has negative equity, mileage will be exceeding the proposed limit and we'd be facing a large payment to clear the negative equity and then the excess mileage if we see out the remainder if the agreement.
We are now looking at options regarding terminating the agreement early. From having a quick look on the forum, i think we need to pay 50% of the total amount payable, but the excess mileage seems more of a grey area. We will start by asking the finance company to adjust the proposed mileage and see how it goes from there.
There looks to be plenty of excellent advice and pointers here too, so ill be spending some time looking through these pages. Thank you in advance.
