PCP Car Finance End

EmilyMac

Comes across quite rude that really doesn't it?


I have admitted fault several times in the post, so your comment is A. Not helpful and B. Irrelevant.


But thanks for your time any love!

EmilyMac

Thanks for the reply.


Yes it was fairly hefty but not as bad as I had imagined. At the end of the day, the majority of the damage was my fault so it was absolutely my responsibility to pay. I just wanted a rough idea of the cost. I have definitely learned my lesson and all future vehicles will be treated with the care of a new born baby!

motorguy

EmilyMac wrote: »

I have now handed the car back to the dealer and got a new car via personal loan.


The charges were a lot less than I expected, so am happy this is done.

??

You still havent answered the question - did you hand it back to the finance company or trade it in?

Theres no such concept as "handing the car back to the dealer" as they dont own the car, the finance company do.

EmilyMac

My apologies, back to the finance company.


I did not want to do HP or PCP.

motorguy

EmilyMac wrote: »

My apologies, back to the finance company.


I did not want to do HP or PCP.

That seems incredibly quick.

Handing it back would normally involve them arranging to pick it up, taking the car away, calculating the charges, writing you a letter with a breakdown of the charges, etc. It would normally take several weeks.

Did the car dealer offer to "sort it all out for you"?

EmilyMac

I had to travel to collect the new car. The finance company have agreed to collect it from the dealership and I've paid for the damages.

k3lvc

EmilyMac wrote: »

I had to travel to collect the new car. The finance company have agreed to collect it from the dealership and I've paid for the damages.

Any reason why the car wasn't traded in if you've left it with dealer anyway ?

Who's paying the storage charges until it's collected ? Surely they'll then re-examine it when they receive it back at their centre/auction house when another bill may well be forthcoming

All seems a bit strange

motorguy

I think the reality is the dealer has bought it and the amount paid by the O/P is the difference between what its worth to them as it sits and the settlement figure, under the veil of "we'll keep it here and the finance company can pick it up", which will become "oh we bought it off the finance company to save them picking it up".

No harm in that per se, and is quite a common practice.

amandacat

My car just came to the end of its PCP and it was £7000 to pay the final payment but I wanted to hand it back as I got a company car. Dealer were going to charge me to hand it back due to a small dent in the door (bad wind took the door as I was getting out and it hit a post) I checked we buy any car and they gave me nearly £9500 so they paid off the finance and I pocketed the £2500. I know it’s too late for the OP now but thought this was worth sharing as I nearly paid to hand it back but instead by looking at my options was able to come away with cash instead.