Ending PCP early

VixK

Apologies if this isn't the correct place to be posting this, please move if not.

I want to end my pcp agreement early and I am over half way through the term.
What I'm finding slightly unclear is whether the final value fee needs to be factored in as half of the final payment as it is optional.
All the paperwork I have leads me to believe that it would be included but just wondering if anyone has had something similar.

neilmcl

You need to pay 50% of the total amount payable, which is the total amount borrowed, plus interest and fees as well as the GMFV.

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

motorguy

VixK wrote: »

Apologies if this isn't the correct place to be posting this, please move if not.

I want to end my pcp agreement early and I am over half way through the term.
What I'm finding slightly unclear is whether the final value fee needs to be factored in as half of the final payment as it is optional.
All the paperwork I have leads me to believe that it would be included but just wondering if anyone has had something similar.

Just for further clarification, you cant VT (with nothing further to pay) when you're half way through the term of a PCP contract, its when you've made 50% of the total amount payable under the terms of the contract.

This is typically around month 31-33 of a 36 month contract.