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Voluntary Termination on pcp

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  • Voluntary Termination on pcp

    Hi Guys
    im new to this site, so bare with me.
    I am just about to return a vehicle that i have had on a pcp plan to the finance company.
    I have reached 1/2 through the payments and can now return it by way of voluntary Termination. I have exceeded the agreed mileage by about 80,000 miles.
    i have been told from the finance company i will not have to pay this excess charge for going over my agreed mileage..AND IGNORE anything that is mentioned about the mileage,
    they stated that they would right to me explaining what i need to do, which they have.
    In there letter they have mentioned about the mileage, and state that i may be charged.
    There is also a place for me to sign and agree this.
    im confused , can anyone please advise me know , as i dont want to get trapped with a high charge for this mileage.
    Thanks
    Wobble1998
    Tags: None

  • #2
    Have you written to them and told them you are voluntarily terminating the contract or have they just sent out paperwork after you phoned them?

    There is a a voluntarily termination template in the shortcuts on the right. Do not sign their template

    Comment


    • #3
      Thanks Ostell

      Im not going to sign there letter.
      I spoke to them about termenation, and they said they would forward me a letter to help me go through the process.
      i did think it was strange them telling me to ignor the mileage bit. He just said i would not be charged for it.

      Thanks

      Comment


      • #4
        So send the letter from the templates on here. The contract ends when they receive it.

        Comment


        • #5
          I will
          thank you

          Comment


          • #6
            Hi Ostell
            can you please advise me on my next steps to get my finance company to reply back to me with regards to a Voluntary Termination i did several weeks ago.
            They have come back with a excess mileage charge and i have forwarded the template letters off this site to reply to them.
            They have not responded to this letter, but keep texting me to call them which i havnt done.
            i do not know what to do now, as i dont have anymore template letters to send them.
            They have updated my credit score with a default and the balance owing is still the same as before i returned the vehicle back to them.
            Kind regards
            Neil

            Comment


            • #7
              So perhaps fill in some of the gaps between then and now

              Comment


              • #8
                Hi. Hope you don't mind me messaging, I'm new but after reading some of the threads it appears that you are quite knowledge.

                Basically, I am hoping to VT my Audi in September. My annual mileage was 8k per year or max total mileage of 32666. If I VT in Sept that will be 9 months before end of contract. Currently, my mileage is at 33k and by Sept it may be around 38k. Do I pay 0.084p based on the difference between 32666 and 38k?

                The reason I ask is I have queried this through Audi Dealership already and he has said I am already effectively 10k over as of today (36 months into 50 month term)
                So by Sept I will pay 0.084p on 16k?

                Just wondering if you know this is accurate. Any guidance would be greatly appreciated.

                Comment


                • #9
                  I suggest you don't hijack someone else's thread but delete your post and start a thread of your own so as to avoid confusion. Read the Voluntary Termination templates in the Shortcuts panel on this page.

                  Comment

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