Voluntary termination - document help!

[Guest]

Hi

I am looking to voluntary terminate my PCP agreement however I am unsure whether I qualify to do so at this point and was wondering if anybody can shed some light?

im confused as I have a 4 years contract at £219 per month with the options then of course to give back or pay and keep etc. The termination section on my contract states: Termination: Your Rights
You have a right to end this agreement. To do so, you should write to the person you make your payments to. They will then be entitled to the return of the goods and to half the total amount payable under this agreement, that is £8,616.34. If you have already paid at least this amount plus any overdue instalments and have taken reasonable care of the goods, you will not have to pay any more.

i am 2 years in to this contract so I am half way through, but I’ve not paid £8616.34 and I’m unsure where the figure has come from and whether that is the 50% figure or total as it doesn’t seem to add up to either?

thank you!

[R0b]

Its a common mistake. Volubtary termination is 50% of the total price payable, not when you've hit the halfway mark.

There will be a box somewhere on the front page and it will say "total price payable" or words to that effect. The figure you see will normally be be half of that unless you took additional products like insurance