Terminating PCP early?

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HoofeHearted wrote: »

If you took out a 3 year contract and wanted to cancel after 2 years, you have to pay the remaining 12 months payments, plus an early cancellation fee.
This was what my son was told when he was considering PCP.

That is PCH Personal contract hire. You agree to hire the vehicle for 3 years full stop. Some PCH let you hand it back for half the remaining payments plus fee.


PCP you can buy the car early, for a settlement figure that will be less than the remaining payments plus balloon (GFV) as there is less interest to pay on the balloon


Or you can VT it once you have paid half the total credit, which is more than 50% of the payments.

WaywardDriver

James2k wrote: »

if you withdrew from the finance, the finance guy at the dealership will lose the commission on the finance, the bonus for the car itself will be unaffected.

I asked and he said no.

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WaywardDriver wrote: »

I asked and he said no.

No to keeping the "incentives"?


He will tell you anything to keep his bonus- would you just kiss a new staircarpet goodbye?

WaywardDriver

facade wrote: »

No to keeping the "incentives"?


He will tell you anything to keep his bonus- would you just kiss a new staircarpet goodbye?

To put it another way - yes to me keeping discount and him keeping bonus. This was 2 years ago so maybe different now.

macman

Are you referring to the sales rep or the finance manager keeping his bonus? Different job, different bonus. No finance taken, no bonus...

James2k

WaywardDriver wrote: »

To put it another way - yes to me keeping discount and him keeping bonus. This was 2 years ago so maybe different now.

like macman said, the finance guys bonus would be gone, vwfs wont be paying anything when they don't get anything!