PCP vs HCP...??

Flyboy152

zudecke wrote: »

So let me get this straight...

I take out a PCP contract on a merc at £350p/m. At the end of the 3 yr period, what happens? I understand I can pay a balloon payment, swap for a new car. But what if I don't want a car anymore? What if I want to let it go?

Then you just hand it back to the finance company and you have no further liability, apart from any excess mileage and/or dilapidations.

But I am still concerned about this conversation you seem to be having with a finance company. Have you already got a car, or sourced it from somewhere else?

zudecke

No, no. I literally had an email conversation with a lady from !!!!!! Lovett (BMW Bristol), who explained this all to me. Another thing that I am beginning to realise as quite odd is that she also told people with worse credit are generally given an easier time when applying for a leased car as it's different from a loan, in that they can just repossess the car.

Cannot believe that either..