VW Early Termination finance

j0rd4n500

Really confused with this early Termination was wonder if some one could help me.

I have a 49 month deal on £263.61 a month, I am currently 25months in and was expecting maybe 5 more months before I reach the half way point. The women has told me I'm £3900 away which was roughly 15 months she said. That would mean im 9 payments away from paying off the final 50%. 9*263.61 is £2372.49 * 2 again is 4744.99. I financed way more than this at 6% so I think I financed around 11k.

Am I misunderstanding how Early Termination works or has she mis informed me.

j0rd4n500

j0rd4n500 wrote: »

Really confused with this early Termination was wonder if some one could help me.

I have a 49 month deal on £263.61 a month, I am currently 25months in and was expecting maybe 5 more months before I reach the half way point. The women has told me I'm £3900 away which was roughly 15 months she said. That would mean im 9 payments away from paying off the final 50%. 9*263.61 is £2372.49 * 2 again is 4744.99. I financed way more than this at 6% so I think I financed around 11k.

Am I misunderstanding how Early Termination works or has she mis informed me.

Just been told it included the final balloon payment. So to date I have paid roughly 6900 plus the 3900 I still need for 50% would get me to 10800 and the total including the balloon payment is £21595.78 I never knew this.

daveyjp

As you have found out its 50% of the total amount borrowed. You did borrow the balloon, you just don’t have to pay it off until the end.

Can you see why dealers like PCPs?