We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
PCP Vs Contract Hire
Hi - I took a car on PCP (which I thought during the time of purchase) for 2 years. There is 6 months left in the contract and thought I will do a part exchange at Arnold Clarke on another vehicle that I liked.
Speaking with AK, they came back saying that my vehicle was bought on contract hire and it need to go back to the finance company after the term. I don't like to moan or complain about this as this is something i should have read before entering into the contract.
I was wondering if there is anything that i can do to finish the contract early ? Obviously I have to speak to the finance provider but thought i will ask the forum members on this case and the likely negotiation that the financier will bring to the table.
Appreciate your time and response.
Speaking with AK, they came back saying that my vehicle was bought on contract hire and it need to go back to the finance company after the term. I don't like to moan or complain about this as this is something i should have read before entering into the contract.
I was wondering if there is anything that i can do to finish the contract early ? Obviously I have to speak to the finance provider but thought i will ask the forum members on this case and the likely negotiation that the financier will bring to the table.
Appreciate your time and response.
0
Comments
-
Whatever you want to do that varies the contract will cost you money. Let the contract conclude, fix any dings or scrapes and hand it back at the end if the lease.0
-
Hi - I took a car on PCP (which I thought during the time of purchase) for 2 years. There is 6 months left in the contract and thought I will do a part exchange at Arnold Clarke on another vehicle that I liked.
Speaking with AK, they came back saying that my vehicle was bought on contract hire and it need to go back to the finance company after the term. I don't like to moan or complain about this as this is something i should have read before entering into the contract.
I was wondering if there is anything that i can do to finish the contract early ? Obviously I have to speak to the finance provider but thought i will ask the forum members on this case and the likely negotiation that the financier will bring to the table.
Appreciate your time and response.0 -
FYI, I have an AUDI on contract hire for two years. I asked for an early termination quote, and they (Audi Finance) told me for early terminations in the final year of the contract it was 55% of the remaining payments."You were only supposed to blow the bl**dy doors off!!"0
-
OP, have you physically checked your paperwork so you are sure that its on Contract Hire and not PCP?
Any mention of balloon payments at the end of the contract when you signed up etc?0 -
Speaking with AK, they came back saying that my vehicle was bought on contract hire and it need to go back to the finance company after the term. I don't like to moan or complain about this as this is something i should have read before entering into the contract.
Hopefully a mistake you won't make again. Out of interest was the original deal via Arnold Clark ? if so it may give you some idea why it may be better to avoid them in future.maninthestreet wrote: »FYI, I have an AUDI on contract hire for two years. I asked for an early termination quote, and they (Audi Finance) told me for early terminations in the final year of the contract it was 55% of the remaining payments.
My last Alfa one (via Fiat Auto Contracts) was 40% - was well worth doing 3 months from end to avoid major service and 4 new tyres0 -
Good spot - I paid advance hire payment in Month 1 followed by equal monthly hire payments.0
-
IT is through Nationwide Vehicle contract.0
-
The contract hire is only for 24 months and I expect them not to charge me for their 'usual' suspects like new tyres and minor scuffs.
Do I have rights to claim my rights through BVLRA?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards