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Car finance (PCP) and VT
Hi everyone I have question regarding PCP plans and Voluntary Termination which I believe you can do once you have paid 50%
Is the 50% from the total amount including interest or the cash price?
The total including interest is £24,950 so half that is £12,475....currently I am outstanding £13,200.... which leaves a difference of just over £700...
If I settle the extra £700, am I half way then? Or have I got this all wrong?
Hopefully someone can clear this up for me, many thanks
Is the 50% from the total amount including interest or the cash price?
The total including interest is £24,950 so half that is £12,475....currently I am outstanding £13,200.... which leaves a difference of just over £700...
If I settle the extra £700, am I half way then? Or have I got this all wrong?
Hopefully someone can clear this up for me, many thanks
0
Comments
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If the £24950 includes the balloon payment, it!!!8217;s half of that figure.0
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Yes it includes the balloon payment
So I take it my calculation is correct above?
Thanks0 -
Usually with a PCP, the "half way VT point" is pretty close to the end of the agreement, due to the weighting of the balloon
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If you read your finance agreement it should say exactly what the amount is.Hi everyone I have question regarding PCP plans and Voluntary Termination which I believe you can do once you have paid 50%
Is the 50% from the total amount including interest or the cash price?
The total including interest is £24,950 so half that is £12,475....currently I am outstanding £13,200.... which leaves a difference of just over £700...
If I settle the extra £700, am I half way then? Or have I got this all wrong?
Hopefully someone can clear this up for me, many thanks0
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