PCP Voluntary Termination - "Vatable added products"

michael.p66

Hi all, just wondering if anyone has ever been billed for "Vatable added products" when voluntarily terminating a PCP agreement?

I have been quoted a "£139 charge for collection of the vehicle", which I understand I have no obligation to pay and "You would also need to pay back the remainder of your Vatable added products, which at this moment stands at £311.28". I queried this and was informed "this covers your Service plan".

Is this legit?

Nearlyold

When you bought the car on PCP, the additional product(s) purchased might have been paid for by a "Top Up Loan" basically a small personal loan alongside the PCP(HP) for the car, it would be a seperate loan but with the payment bundled with the PCP payment so you only had one DD to pay. (This typically happens where the deposit would not cover the cost of the additional products)

Personal Loans don't have VT rights so handing the car back would have no effect on the top up personal loan meaning the balance is still due.

michael.p66

Thanks Nearlyold... from NearlyoldToo :-)