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PCP Car Deals
Has anybody ended a PCP car deal early ?
I'm due to finish after 42 months in March/April next year, and pay the balance to keep it.
I'm keeping it because I don't want another new one.
So can I pay the balance now, early to keep it, or do I have to wait until the end of the agreement ?
Comments
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You can settle the finance at any time. Lot's of people do it all the time.
If you settle now, you will save on the interest due on the rest of the capital except for 56 days worth.
Just contact the finance provider and ask for a settlement figure. They will give you a figure and give you around 30 days to pay it, otherwise you need to ask for another settlement figure.
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OK thanks. I'm not returning the car, I want to keep it so its 100% mine. Is there an early payment penalty ?
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No, there should be a saving on the interest charges, and that'll be you sorted.
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