Voluntary temination of PCP

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Ganga said:

32Battalion said:

AdrianC said:

neilmcl said:

32Battalion said:

There will be much better deals after those that are already redundant actually find out they are redundant in October.

?????

He's suggesting that furlough is just a way of hiding redundancy.

And then we we will be entering the territory we last saw in about 2010 with new car sales.

Which was ?

Sales went up 1.8%.

Possible that people will buy a new car (which they desperately need, and can justify) to reduce their savings to below the threshold for benefits - is it still £6000? if they can smell redundancy.

bigadaj

facade said:

Ganga said:

32Battalion said:

AdrianC said:

neilmcl said:

32Battalion said:

There will be much better deals after those that are already redundant actually find out they are redundant in October.

?????

He's suggesting that furlough is just a way of hiding redundancy.

And then we we will be entering the territory we last saw in about 2010 with new car sales.

Which was ?

Sales went up 1.8%.

Possible that people will buy a new car (which they desperately need, and can justify) to reduce their savings to below the threshold for benefits - is it still £6000? if they can smell redundancy.

Benefits system is far more complex than that, CB unemployment benefit is eligible to anyone who has paid sufficient NI, other benefits may or may not be earnings or savings related. Would be a reckless move which is not to say that some would not do it, however would be odd to commit to a big commitment if savings were that low.

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Plus, the people who used to work in offices and are now working from home are rolling in  disposable cash, no hyper expensive train fares, no costa coffee @ £3 a cup, no pret-a-manger for lunch, no popping in the wine bar/pub at London prices after work must be a considerable saving over the last 5 months.

Dr_Crypto

I bought a new car in 2010 and don't remember any particuarly geat deals then and that was just after the 2008 crash. 

AdrianC

Dr_Crypto said:

I bought a new car in 2010 and don't remember any particuarly geat deals then and that was just after the 2008 crash. 

The main incentive was the government-backed scrappage scheme, launched in the April 2009 budget, closed in March 2010.

neilmcl

If you're prepared to work a bit there have always been deals available, economic downturn or not.

32Battalion

Ganga said:

32Battalion said:

AdrianC said:

neilmcl said:

32Battalion said:

There will be much better deals after those that are already redundant actually find out they are redundant in October.

?????

He's suggesting that furlough is just a way of hiding redundancy.

And then we we will be entering the territory we last saw in about 2010 with new car sales.

Which was ?

Examples such as these (looks like best deals were 2009) I was looking for the Kuga deal and at one brief point if my memory serves me well they were close to 50% off.

lcc86

OP in answer to your question, a VT should not affect your credit file as it's something you're allowed to do contractually. Just check you've definitely paid 50% of the finance before you do it - that includes deposit, interest, and balloon. There should be a figure in your t's and c's where the 50% figure is calculated. As you don't have long left it's entirely possible you're at that point, just be sure to have it in writing before you sign anything for the  new car.

bazzyb

lcc86 said:

OP in answer to your question, a VT should not affect your credit file as it's something you're allowed to do contractually.

Being allowed to do it doesn’t mean it won’t affect your credit file. If you VT an agreement it will definitely be marked as such, and will show on your credit history for six years. 

neilmcl

bazzyb said:

lcc86 said:

OP in answer to your question, a VT should not affect your credit file as it's something you're allowed to do contractually.

Being allowed to do it doesn’t mean it won’t affect your credit file. If you VT an agreement it will definitely be marked as such, and will show on your credit history for six years. 

But as I mentioned in the first reply in this thread a VT marker will not have an adverse affect on the credit history, so what @lcc86 said is correct.