Hey, read. Unless they have indicated in the contract (which they almost certainly will not have) that the deposit fee and guarantee depend on maintaining the PCP agreement for a minimum of time, you can then do exactly what you expect. Read our article on deposit contributions for more information. Hi, Stuart, my daughter has a 1.2 vw polo on 3 years of pcp. She pays 163 a month. In the very short term, she will work in Italy and wants to get rid of the car. The car is registered from November 1, 2013, so it was not in the one-year agreement. How can it end funding prematurely? We cannot afford to pay for them. Any advice, please? Thank you. Kay Once your contract is concluded, we will automatically transfer the property to you.
The blackout period is 10 days, after which a letter will be sent to confirm that we are no longer interested in the vehicle. Hello Stuart, I have a PCP with BMW finance and I am now 12 months into a 48 month contract. Unfortunately, my personal circumstances have changed and I now find that, due to the massive drop in income, I cannot afford payments of about $490 (partly the current PCP and partly the negative equity loan). I contacted the BMW dealer, who can not help, and also BMW FS, with whom I have reached a short-term agreement on the payment of 3 months of PCP at 50% and 3 months of equity loan neg at 50% and 3 months at 150% for 3 months, in order to reconcile the agreement by January 2015. I won`t be able to pay the 150% of payments because it will be about 780 pm, so BMW has again contacted FS with a proposal to return the vehicle via its dealership, plus an affordable monthly payment to settle outstanding financing. The dealer offered $14,500 to buy a car, but BMW says this is unacceptable and that I should try to increase the sale [price by other dealers or a private sale. I offered to make the car through the dealership and pay the negative balance of $200, which is almost affordable, but I will be less car and I probably won`t be able to get a credit for a new car. My understanding is that I still have the agreement under CCA VT, but will I be responsible for the entire stock and have registered the expense as a credit default against me, like BMW? If you would like to be considered for this option, please contact us no later than one month before the expiry date of your agreement, so that we can submit offers and submit your application in a timely manner. Circumstances change and the cost of abolishing the car may be better than paying more to keep it for the rest of the deal. Otherwise, your car can no longer be adapted to your needs and the cost of changes may pay.