Pcp

cloudybabies

I am trying to work out and find out laws and legislation on PCP loans. Is there a charge for early repayment. Say you can settle full amount 2 months into a PCP, what do you pay? Do you pay remaining amount without interests or would there be a penalty charge for early repayment.

Foxy-Stoat_3

Read your PCP agreement, it will state somewhere in the terms and conditions.

cloudybabies

Foxy-Stoat wrote: »

Read your PCP agreement, it will state somewhere in the terms and conditions.

But I have not taken one out yet, I am trying to decide if i should dependent on if there are fees for early payment.

Foxy-Stoat_3

If your thinking about early termination then I would not sign up to a PCP, easy to get, hard and expensive to get out!

cloudybabies

Foxy-Stoat wrote: »

If your thinking about early termination then I would not sign up to a PCP, easy to get, hard and expensive to get out!

Really, but read some of them its easy to cancel and you dont pay interest on the payments that are not due yet.

Foxy-Stoat_3

Having read a few threads on here about it costing people a lot of money to exit a PCP deal I would say ask for a copy of the agreement and read it before signing.

cloudybabies

Foxy-Stoat wrote: »

Having read a few threads on here about it costing people a lot of money to exit a PCP deal I would say ask for a copy of the agreement and read it before signing.

Ok, thanks.

smitchy73

Most PCP's to leave early you have to pay half the amount of what has been financed, including interest charges, fees etc.

You can also usually pay up to the point of half way earlier.

Remember though half way through the term doesn't mean half way point of the finances as the interest is being paid first with a little towards the car, and they overtake each other in portions probably around year two of three.

cloudybabies

smitchy73 wrote: »

Most PCP's to leave early you have to pay half the amount of what has been financed, including interest charges, fees etc.

You can also usually pay up to the point of half way earlier.

Remember though half way through the term doesn't mean half way point of the finances as the interest is being paid first with a little towards the car, and they overtake each other in portions probably around year two of three.

Thanks. Anyone know the kia access one. What are fees