PCP Voluntary Termination

LewisXI

Hi,

I purchased a vehicle from Audi on PCP in December 2016.

I'm just wondering what my rights are in terms of voluntary termination.

I understand it is 50% - but from what i've read today this normally falls around 90-95% of the term as it doesn't include the GFV.

Is this the case or am i reading it wrong?

Thanks

LewisXI

Nevermind, spoke to audi finance. It is correct.

ratrace

LewisXI wrote: »

Hi,

I purchased a vehicle from Audi on PCP in December 2016.

I'm just wondering what my rights are in terms of voluntary termination.

I understand it is 50% - but from what i've read today this normally falls around 90-95% of the term as it doesn't include the GFV.

Is this the case or am i reading it wrong?

Thanks

See you agreement for a better idea, normally it is 50% of the total cost including everything such as deposits etc.... so for eg if total cost is £10,000 then £5,000 will be the vt point



if you do vt make sure to take very good quailty pictures and lots of them as the dealers try it on by charging for wear and tear that really should come under BVLRA guide



but like i say see your agreement for a better idea


edit: cross posted

foxy-stoat

LewisXI wrote: »

Hi,

I purchased a vehicle from Audi on PCP in December 2016.

I'm just wondering what my rights are in terms of voluntary termination.

I understand it is 50% - but from what i've read today this normally falls around 90-95% of the term as it doesn't include the GFV.

Is this the case or am i reading it wrong?

Thanks

Generally the deposit and repayments are structured so that you reach 50% payback a few months from the end.

LewisXI

Thanks for your replies, yeah I spoke to Audi and they told me what I had read.

foxy-stoat - yeah you are correct - it works out 1 year earlier than the end of the contract.

neilmcl

LewisXI wrote: »

Thanks for your replies, yeah I spoke to Audi and they told me what I had read.

foxy-stoat - yeah you are correct - it works out 1 year earlier than the end of the contract.

The total amount payable will be clearly detailed in your finance agreement document of which your 50% will be based on. In fact some agreements are helpful enough to specify the exact 50% figure.

motorguy

LewisXI wrote: »

Hi,

I purchased a vehicle from Audi on PCP in December 2016.

I'm just wondering what my rights are in terms of voluntary termination.

I understand it is 50% - but from what i've read today this normally falls around 90-95% of the term as it doesn't include the GFV.

Is this the case or am i reading it wrong?

Thanks

For the avoidance of doubt, it DOES include the GFV.