PCP and the law - references required

TotalNoob

Hi,
does anyone have any links or references they can give regarding PCP and the voluntary termination after 50% of the finance is paid?
Thanks

daveyjp

https://www.legislation.gov.uk/ukpga/1974/39/section/99

neilmcl

Also the following may help:

https://www.thecarexpert.co.uk/car-finance-voluntary-termination-pcp-hp/

https://legalbeagles.info/forums/forum/legal-forums/motoring-parking/vehicle-finance-and-issues/77730-a-guide-to-voluntary-termination-your-rights

TotalNoob

Fantastic! Thank you

Mercdriver

Having problems getting the finance company to take it back?  Bear in mind that it is when 50% of the amount under the agreement has been paid (including the balloon), not when you are 50% through the the term of the loan period.

MinuteNoodles

As above. Most people make the mistake of thinking it's when they've made 50% of the PCP portion of the payments and forget/don't realise it also includes the balloon payment. If you're not in the last 12 months of the deal you're usually not at the 50% point.

TotalNoob

Thanks, but yes I'm aware of that.
I don't have an agreement at the moment, just wanted to educate myself