PCP Agreement

LightFlare

Was the car brand new ? (I cant see if you mentioned this)

Is this a known problem with this make/model ?  I suspect there may be hence the recall.

What make,model,age is it ?

jimmyd2024

Hi the car is a Skoda enyaq 2021 model. I bought it from a dealer in 2023. Recalls were raised on car September 2022 in respect to the battery module requiring replacement .

jimmyd2024

Anyone have any experience of this?

Goudy

I believe the "recall" was a check and software update on the battery system as some cars/batteries up to and including some 2021 models started showing problems.

Skoda/VW never replaced the batteries at the recall, not unless they were showing signs of the problem.

Unfortunately, this has left owners suffering further down the line if/when the problem does occur.
VAG, the company that owners Skoda have started to scale back EV production, in fact they stopped some production late last year which has lead to a bit of a bottleneck and as yet, unfulfilled waiting list on some cars and parts.

You have been given some good advice, get the finance company involved to put pressure on the dealer to get the repair done or come to another suitable solution.

Complain in writing to the Dealer, Skoda UK and the finance company that the situation is intolerable but you are willing to discuss a more reasonable solution as the current solution is only benefiting the dealer, Skoda UK and the finance company and not you as their customer.

I could be wrong, but your write to reject has passed and you should give them the opportunity to repair.
The problem you all have is they can't seem to do that in a timely manner, so you might have to open the door to a different solution for them rather than insisting on all your money back.

jimmyd2024

Hi, sorry to continue this thread as it’s now sorted but have a further query.

i want to hand back my PCP car deal when I get to the 50 percent mark. Do they recalculate your mileage allowance or do they allow the 40 k I agreed on over the 4 years .ie can I still do the 40 k miles and hand it back and be not subjected to excess mileage? 

Frozen_up_north

You can ask for a settlement figure at anytime, then you will know.

DrEskimo

jimmyd2024 said:

Hi, sorry to continue this thread as it’s now sorted but have a further query.

i want to hand back my PCP car deal when I get to the 50 percent mark. Do they recalculate your mileage allowance or do they allow the 40 k I agreed on over the 4 years .ie can I still do the 40 k miles and hand it back and be not subjected to excess mileage? 

It’s a grey area, but most experiences I’ve read of voluntary termination (VT) suggests they will request any excess mileage based on a pro rata amount (I.e. you won’t get the full 40k allowance), but it’s difficult for them to chase it if you dispute it as the terms under voluntary termination are not clear. Worth checking your T&Cs. 

When do you calculate you will reach 50% term? It might be quite close to the end anyway. 

Also, don’t automatically go to VT. As above, request a settlement figure from your finance company and then check its trade in value. You are free to trade it in whenever you like and if it’s worth same or more than settlement, you won’t have to bother with VT or mileage worries. That will be reflected in the trade in price. 

Goudy

Voluntary termination isn't a get out of jail free card.

First off, the 50% mark is 50% of the entire deal. This includes the GFV payment and interest.
This is why Dr Eskimo is asking when you think you will reach 50%.
Generally with PCP deals this 50% mark is very near the end of the contract anyway, around when the GFV payment is due.

If that's the case you don't need to VT it, just hand it back to the finance company.

In regards to VTing and excess mileage, there is no provision for excess mileage in law when VTing.
Rulings by the financial ombudsman service and courts have gone both ways on this, so it's not slam dunk.

However, they will work it out on a pro rata and they will chase you for it, often threatening and taking legal action.
You will have to fight it and that could go on for a long time.

As you are asking about excess mileage I take it you have some.
As hinted at, it might be better to work out what you still owe on the car (get a settlement figure) and see if you can get an offer for trade in that covers that amount off on a new car.

You might have to shop around dealers and see what they offer.
Most will be able to check what this figure is and if things aren't too far away with the value, meet it to get a new deal over the line. (just tell them that).
They also might try rolling the negative equity into the next finance deal, so be wary.

Also, settlement figures are negotiable. We the average customer probably won't get much joy haggling with the finance company over it but a dealer that settles and signs many new deals will probably get a discount on the settlement figure, this might help with them settling what you owe.