Peugeot Just Add Fuel

skinnylynne

we are 20 months into a peugeot just add fuel deal and due to a change in circumstances this deal is no loger suitable for our requirements ..... is there any way we can terminate the deal early ..... the dealer we took out the deal with seem to say no unless we pay over £2k negitive equity plue the excess miles(which we know about ..... it is due to our milage dramatically changing due to a cahnge of job that the deal is no longer suitable) ..... they are advising we have to keep the car for the remainder of the 3 year deal ...... any advice would be welcome. thank you

Oakdene

How many months is the agreement for?

skinnylynne

36 or 37 .... will have to check later

skinnylynne

i'm new to the forum and just thought i might be able to get some basic advice from anyone else who many have been in the same situation .... when it was taken out it was suitable as only did about 5k miles a year but due to a job cahnge the miles are now approx 12k which is not good for the deal so just looking to get out asap to prevent a huge bill at the end

Oakdene

You can VT once you have made 50% of the contract, so basically look at the amount of money you have to pay on the contract, add up your monthly payments so far and take it away from the contract. The difference should be the amount it would cost to VT.

skinnylynne

this is our 2nd just add fuel and when we took the very first one out i did question what would happen if for anyreason we were not able to afford it or it was no longer suitable and they sales man said " we simply take it back" however now we are wanting to hand it back they are saying not so easy

neilmcl

As mentioned, if you want to get out of it you can either settle the finance or, if you've paid off 50% of the total amount (look up this figure in your agreement) then you can VT the vehicle and walk away.

dannyrst

Ring the finance company and ask them.

skinnylynne

thank you very much for you help it is very much appreciated ....... we pay £249 per month on a 1.1 peugeot 206

neilmcl

dannyrst wrote: »

Ring the finance company and ask them.

Ask them what exactly?

Remember it's not in a finance so. interest to advise anything other than keeping the agreement going till the end of term and they won't particularly be forthcoming about any other options open to the OP.

neilmcl

skinnylynne wrote: »

thank you very much for you help it is very much appreciated ....... we pay £249 per month on a 1.1 peugeot 206

As you've asked specifically about termination have a read of the following:

http://www.thecarexpert.co.uk/car-finance-voluntary-termination-pcp-hp/

and also take a look over here:

http://www.legalbeagles.info/forums/showthread.php?77612-How-to-Voluntary-Terminate-a-HP-Agreement-*UPDATED*