PCP Woes!!!

DarkPond · 20 June 2018 at 4:19PM

Hi All,

Perhaps someone is able to offer some advice on the following situation that my wife finds herself in as of today.

She has a car on PCP, the last payment is the 23rd July and therefore we assume this is when the contract ends (we have yet to actually check this).
She has been in touch with the finance company to arrange the collection of the vehicle. This request has been passed to the collection company employed by the finance company who apparently say that they have a backlog and wont be able to pick the car up until sometime in August. The finance company say that my wife has to keep the car until then AND pay to keep it insured. I don think this is correct, what does the community think please?

Surely when the contract ends then the car is no longer my wife's responsibility!!!

Thanks,

Sean

DrEskimo · 20 June 2018 at 4:45PM

Have you checked how much the car is worth?

It could be that the car is worth more than the final payment, in which case you can always sell/trade the car in, settle the outstanding finance yourself and pocket the difference.

foxy-stoat · 20 June 2018 at 4:53PM

Send the finance company an invoice for 2 months VED & insurance, you could add storage costs too. Maybe that will give them a boost.

DarkPond · 20 June 2018 at 5:17PM

Yes thanks for that, could be worth checking!

System · 20 June 2018 at 9:49PM

What about finding out where you can take it to to hand it over instead of them collecting it?

flockman · 22 June 2018 at 10:52PM

Hi, unfortunately you won't be able to charge them storage. You won't be allowed to charge them from a residential address. is the V5C in your wifes name or their name?

PCP Woes!!!

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