Voluntary terminating a car on PCP

Ectophile

You may have a fight on your hands, but you aren't actually required to sign any forms they send you. You only have to give them formal notice that you wish to VT the car.


If the car has failed an MOT, and needs £400 spending on it, then they may add that to the bill. They expect the car to be handed back in good working order, and very good condition.

neilmcl

Scampbell14 wrote: »

Should I sign the VT form agreeing to pay this or is there another way to hand the car back without agreeing to pay the excess mileage?

I take it if I refused to pay it the worst the ombudsman can do is say no you need to pay it?

Do not sign any form from the finance provider as you'll definitely be on the hook for further fees/charges.

You can refuse to pay, the worst that'll happen is the finance provider taking you to court. So you can take your chances there.

Manxman_in_exile

Are people sometimes "mis-sold" by the salesman perhaps suggesting that if they agree to a lower annual mileage, the payments will be lower?


I'm sure some of you will disagree, but if you've signed up to a particular mileage limit and a reasonable additional cost if you exceed that limit, I have a gut feeling that it ought to be paid.

DoaM

To put things in perspective, the OP is looking at 8k miles x 8p = £640.

Scampbell14

The finance company will not start the collections process unless I sign the form I'm not sure how else I can start the process meanwhile each month that goes on I'm still paying my pcp fee per month and running up more mileage costs. I am paying the money to have the car repaired tomorrow so that's one thing out of the way.
If they do take me to court and they win then does that mean I need to pay their legal fees ect? I have legal cover protection on my car insurance not sure if it would apply to this.

Thanks

Ectophile

If you're going to go down the "no forms" process, you have to be belligerent back to them.


If you haven't already done so, put the VT in writing. Then stop the payments at your bank. Then tell them that you accept no responsibility for what happens to their car if they choose to abandon it outside your home.


But don't expect them to just accept that. That's why I said you'd have a fight.