PCP coming to an end and Covid?

ncthomas1

Hi. I have a vehicle on pcp. The term ends at end of April. I have had no communication from Audi at all. We have tried to call but there is no option on their call system to ask this question. I have never missed a payment and this month is my last one. The intention is then to either keep car and pay a balloon or to refinance the balance and keep the car that way. Does any one know how this would work if I can’t get through? Clearly they can’t come and get the car, nor can I take it back and I do want to keep it. I just don’t know where I stand here and not being even to get through on phone or email is really ridiculous 

neilmcl

ncthomas1 said:

Hi. I have a vehicle on pcp. The term ends at end of April. I have had no communication from Audi at all. We have tried to call but there is no option on their call system to ask this question. I have never missed a payment and this month is my last one. The intention is then to either keep car and pay a balloon or to refinance the balance and keep the car that way. Does any one know how this would work if I can’t get through? Clearly they can’t come and get the car, nor can I take it back and I do want to keep it. I just don’t know where I stand here and not being even to get through on phone or email is really ridiculous 

Ask what question? Surely there's an option to speak to a customer advisor regarding your existing agreement?

ToxicWomble

In the same boat as you.
We want to pay the balloon at the end (May) but actually getting someone to tell me how to pay this is feeling impossible, it’s like they don’t want my £13k

neilmcl

ToxicWomble said:

In the same boat as you.
We want to pay the balloon at the end (May) but actually getting someone to tell me how to pay this is feeling impossible, it’s like they don’t want my £13k

It's very clear in the letters they send you. They will take the final payment, ie the balloon from your account in the same way they've been taking all your monthly payments. This is the default position if you do nothing.

ncthomas1

Hi there is NO option when I call to speak to an advisor. 

I have nothing on my agreement stating they take the balance in full at the end if I don’t pay? All it says is at the end of the term you can 1) pay the balance 2) give the car back 3) refinance the balance 4) choose a new car and refinance 
but in much more detail of course 

ncthomas1

neilmcl said:

ncthomas1 said:

Hi. I have a vehicle on pcp. The term ends at end of April. I have had no communication from Audi at all. We have tried to call but there is no option on their call system to ask this question. I have never missed a payment and this month is my last one. The intention is then to either keep car and pay a balloon or to refinance the balance and keep the car that way. Does any one know how this would work if I can’t get through? Clearly they can’t come and get the car, nor can I take it back and I do want to keep it. I just don’t know where I stand here and not being even to get through on phone or email is really ridiculous 

Ask what question? Surely there's an option to speak to a customer advisor regarding your existing agreement?

No. Nothing. No option at ALL to speak to a human !

DrEskimo

Are you ringing the Audi dealer, or VWFS? You just need to call and settle the finance. You may even have access to this online. 

There is no need to wait for the end date, you can settle this at any time throughout the term. In fact, doing so would have saved you interest....

ToxicWomble

neilmcl said:

ToxicWomble said:

In the same boat as you.
We want to pay the balloon at the end (May) but actually getting someone to tell me how to pay this is feeling impossible, it’s like they don’t want my £13k

It's very clear in the letters they send you. They will take the final payment, ie the balloon from your account in the same way they've been taking all your monthly payments. This is the default position if you do nothing.

It isn’t very clear otherwise I wouldn’t be wasting my time trying to contact them. What’s  wrong with wanting confirmation even if it was clear ??
Not many people (I think) have £13k just lying around In their current account  so it makes perfect sense to seek for clarity.

k3lvc

I've managed to go online and get both a settlement figure and a statement within minutes from https://customer.vwfs.co.uk/ 

neilmcl

ToxicWomble said:

neilmcl said:

ToxicWomble said:

In the same boat as you.
We want to pay the balloon at the end (May) but actually getting someone to tell me how to pay this is feeling impossible, it’s like they don’t want my £13k

It's very clear in the letters they send you. They will take the final payment, ie the balloon from your account in the same way they've been taking all your monthly payments. This is the default position if you do nothing.

It isn’t very clear otherwise I wouldn’t be wasting my time trying to contact them. What’s  wrong with wanting confirmation even if it was clear ??
Not many people (I think) have £13k just lying around In their current account  so it makes perfect sense to seek for clarity.

The balloon is the final payment, it's pretty obvious it's going to come out of the same place as all the other payments are being made.

neilmcl

ncthomas1 said:

Hi there is NO option when I call to speak to an advisor. 

I have nothing on my agreement stating they take the balance in full at the end if I don’t pay? All it says is at the end of the term you can 1) pay the balance 2) give the car back 3) refinance the balance 4) choose a new car and refinance 
but in much more detail of course 

As mentioned, if you want to keep the car then you do nothing except make sure you have the funds in your account that has the direct debit instruction. If you want to re-finance then you'll probably better off looking at a cheap bank loan.