PCP leasing

May94

Hi,
I'm about to begin leasing a Vauxhall corsa through a PCP lease. I have put down a deposit of 499, and am expected to pay 118 a month. However, I'm having second thoughts on the whole thing. I'm yet to sign any finance agreements or documentation, all I have signed was a vehicle order form. I'm just wondering whether I would be able to cancel this and receieve my deposit back if I did choose to.
Thanks

Foxy-Stoat_3

Check the paperwork that you signed, if in doubt dont do it.

May94

Foxy-Stoat wrote: »

Check the paperwork that you signed, if in doubt dont do it.

Thanks for the quick answer. If worst case was me losing any fees that they have spent on getting the car ready (eg tax) that wouldnt be the end of the world

IvorBiggun

There is a cooling off period on finance agreements. Check the small print and act quickly.

May94

IvorBiggun wrote: »

There is a cooling off period on finance agreements. Check the small print and act quickly.

Hi, I haven't actually signed any finance agreements. I'm due to do that Monday. Just wondering about the deposit really. Poor student problems haha

KarenSmyth

I have been offered £1000 off a new car if I take out PCP. However, I was originally going to buy it on credit card outright & then transfer that to a 0% credit card deal over 3 years. However, I can't quite work out the early term/overpayments option of the PCP in order to decide if its worth the £1k discount. Help, please?

Foxy-Stoat_3

KarenSmyth wrote: »

I have been offered £1000 off a new car if I take out PCP. However, I was originally going to buy it on credit card outright & then transfer that to a 0% credit card deal over 3 years. However, I can't quite work out the early term/overpayments option of the PCP in order to decide if its worth the £1k discount. Help, please?

I would suspect that you will not be able to transfer to a 0% credit card.

OddballJamie

KarenSmyth wrote: »

I have been offered £1000 off a new car if I take out PCP. However, I was originally going to buy it on credit card outright & then transfer that to a 0% credit card deal over 3 years. However, I can't quite work out the early term/overpayments option of the PCP in order to decide if its worth the £1k discount. Help, please?

Remember to factor in the credit card fees, the dealer will charge at least 2.5% to cover the banking fee. Then when you transfer it to another card you'll pay 1.5-3.5% fee.