Mis-sold finance agreement but dealer sold company

Edi81

~Brock~ wrote: »

It was a PCP, so there will still be a big chunk of final payment to be found. Termination rights refer to 50% of the total payable, not the actual term of the agreement.

The dealer's claim that you can hand the car back after 18 months was not technically incorrect.....you can hand the car back at anytime, with the caveat that there may well be a bundle of cash to be paid as well !

Exactly that! The agreement clearly states what the voluntary termination (returning car after half has been paid) and will refer to the actual monetary amount. The way that PCP deals are structured there is no sense in early settling - they are perfect for people that replace their car every 3 years.

The accommodation deal adds complexity. Whatever you do don't let the Finance Company know or they are within their rights to terminate the agreement and take the car back.