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Ending PCP after 2-3 months
etkuwahara
Posts: 3 Newbie
in Motoring
Am I correct in thinking I can cancel my Audi pcp contract say in month 2 and only pay the interest gained over the 2 months? That’s what the salesman says however I don’t think it’s ideal
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Comments
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Are you paying off the contract in full or just sending the car back?
There will probably be some admins fees as well - what does the contract say?0 -
Read the Ts and Cs of your contract, that's where you'll find the answer regarding early repayment.0
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Paying it offDE_612183 said:Are you paying off the contract in full or just sending the car back?
There will probably be some admins fees as well - what does the contract say?0 -
Yes, I've recently done just that (two months after collecting the vehicle).
It was simply a case of visiting Manage My Finance Account | Audi Financial Services and making a payment via the online portal.
No admin fees, nothing. It couldn't have been easier.0 -
Why wait two months? You can normally withdraw from the finance in the first 14 days, and keep any deposit contribution. I've done it several times.
But read the contract first!0 -
It’s more in case my funding doesn’t arrive within the 14 days0
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Depends on the wording, in principle they can charge you penalty interest of 58 days interest but if your actual contract includes this or not is hard to read from here.etkuwahara said:Am I correct in thinking I can cancel my Audi pcp contract say in month 2 and only pay the interest gained over the 2 months? That’s what the salesman says however I don’t think it’s ideal0 -
marlot said:Why wait two months? You can normally withdraw from the finance in the first 14 days, and keep any deposit contribution. I've done it several times.
But read the contract first!If you cancel within 14 days, then the finance deal is totally cancelled. Any perks linked to the finance may be removed.That's a different thing from paying off the finance early, which you can do any time.If it sticks, force it.
If it breaks, well it wasn't working right anyway.0
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