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  • FIRST POST
    • evensteven
    • By evensteven 11th Jun 18, 7:45 PM
    • 4Posts
    • 4Thanks
    evensteven
    PCP missold policy and now stuck with mileage charges
    • #1
    • 11th Jun 18, 7:45 PM
    PCP missold policy and now stuck with mileage charges 11th Jun 18 at 7:45 PM
    3 years ago I bought a Nissan qashqai and was informed about PCP by the sales adviser. I needed a car quickly as my old car was on it's last legs. I told them I would like to spend approx 200 a month and that was my budget. They asked the usual questions and also asked how many miles I did, to which I told them 10,000 a year.
    They couldn't get near to the figure I wanted (270) we were prepared to leave until he said he would have word with the manager (the usual tricks). He came back and siad he could do 250 a month and throw in extras such as mats and a service plan.
    Anyway we agreed and were told we would have the car within 2 weeks.
    That didn't happen. When I was talked through the pcp I was informed that I could hand the car back after I'd paid 50% of the total with no further payments. Or I could return it and put it down as payment towards a new one or I could buy it. I was told I could change it at anytime. I noticed that the annual mileage was 5000 on the contact and I raised this with the adviser who told me it didn't matter and it wasn't important it was only if I handed the car back early. I explained that I didn't do 5000 but 10,000 and he kept telling me not to worry. Stupidly I still signed but at the time I was reassured more than once that it wasn't important.
    I now realise this isnt true as I've come to the end of my agreement and have paid 50% and wanted to hand it back. However I've done Double the mileage (31000) and have been advised of a 1500 minimum excess charges!
    I tried to contact the garage and for 4 days they ignored my calls and emails so I raised a complaint with customer services.
    Since then, the garage have contacted me to say they've looked into and nothing they can do. This came from their compliance manager.
    Where do I stand with this as I am adamant of the conversations I had with the sales adviser who still works there and have got some copies of notes I made at the time. Also a copy of my contract which has been scrawled over by the sales adviser who underlined the bots he wanted me to deem important- such as monthly payments but NOT mileage which was hidden in a corner of the document. I accept that I signed it but the policy itself was not explained correctly and now I'm fitting a bill of 1500 to get rid of the car!

    Any help appreciated
Page 2
    • Mercdriver
    • By Mercdriver 12th Aug 18, 10:53 PM
    • 1,924 Posts
    • 1,312 Thanks
    Mercdriver
    Following this with interest as Im in exactly the same boat with the same finance company. I havent spoken to them yet as they are not open today. I am 18 months into my 3 year PCP and will be hugely over my mileage allowance owing the the dealer persuading me to reduce from 12,000 to 10,000- yes I dont need berating, I signed the contract blah blah blah!

    I'm following to try and determine what is the best thing to do. Currently my thoughts are;
    1. Get a current settlement figure and pay with a bank loan then potentially sell on
    2. Keep the car until the 3 year point, hand it back get a loan for the mileage and get a new car
    3. VT the PCP

    My excess milegae charges are going to be circa 8000 by the end of the 3 years!!
    Originally posted by Willingwisp
    At 18 months through a 3 year deal, you won't be able to VT. You can VT when you have paid 50% of the amount covered by the agreement. It is not 50% through the term. On most PCPs that is close to the end o the 3 years.
    • marlot
    • By marlot 13th Aug 18, 6:55 AM
    • 3,580 Posts
    • 2,700 Thanks
    marlot
    ...
    I'm following to try and determine what is the best thing to do. Currently my thoughts are;
    1. Get a current settlement figure and pay with a bank loan then potentially sell on
    2. Keep the car until the 3 year point, hand it back get a loan for the mileage and get a new car
    3. VT the PCP...
    Originally posted by Willingwisp
    All three options lock you into more debt!



    Why not wait to the end of the PCP, pay the balloon payment and keep the car? You could get a loan if you need to, but it gets you off the PCP treadmill.


    If you're paying the ballon payment then there is no excess mileage to pay, nor any charges for minor damage.
    • motorguy
    • By motorguy 13th Aug 18, 7:00 AM
    • 17,129 Posts
    • 10,264 Thanks
    motorguy
    At 18 months through a 3 year deal, you won't be able to VT. You can VT when you have paid 50% of the amount covered by the agreement. It is not 50% through the term. On most PCPs that is close to the end o the 3 years.
    Originally posted by Mercdriver
    Just for clarity. You can VT at ANY time. You can VT the day after you get the car if you like.

    HOWEVER, the finance company can only pursue you for 50% of the total cost of the agreement.
    "We have normality. I repeat, we have normality. Anything you still can't cope with is therefore your own problem."
    • foxy-stoat
    • By foxy-stoat 13th Aug 18, 9:21 AM
    • 2,440 Posts
    • 1,352 Thanks
    foxy-stoat
    Just for clarity. You can VT at ANY time. You can VT the day after you get the car if you like.

    HOWEVER, the finance company can only pursue you for 50% of the total cost of the agreement.
    Originally posted by motorguy
    Just need to clarify that if you VT'd at any time and you do not have the money to paid 50% of the total deal, plus (possible) excess mileage charges then your credit file will be trashed for 6 years.
    • neilmcl
    • By neilmcl 13th Aug 18, 9:35 AM
    • 11,451 Posts
    • 8,236 Thanks
    neilmcl
    Just need to clarify that if you VT'd at any time and you do not have the money to paid 50% of the total deal, plus (possible) excess mileage charges then your credit file will be trashed for 6 years.
    Originally posted by foxy-stoat
    You're missing the point. You can VT at any time and all you are liable for is 50% of the total amount payable, regardless of whether you've reached that point or not. Your credit file will be "trashed" only if you fail to then pay off that liability.
    • foxy-stoat
    • By foxy-stoat 13th Aug 18, 10:56 AM
    • 2,440 Posts
    • 1,352 Thanks
    foxy-stoat
    You're missing the point. You can VT at any time and all you are liable for is 50% of the total amount payable, regardless of whether you've reached that point or not. Your credit file will be "trashed" only if you fail to then pay off that liability.
    Originally posted by neilmcl
    Surely that was the purpose of my post.
    • Mercdriver
    • By Mercdriver 13th Aug 18, 5:49 PM
    • 1,924 Posts
    • 1,312 Thanks
    Mercdriver
    Just for clarity. You can VT at ANY time. You can VT the day after you get the car if you like.

    HOWEVER, the finance company can only pursue you for 50% of the total cost of the agreement.
    Originally posted by motorguy
    Indeed. I wouldn't however just drop off the car without paying anything to the finance company if it is before the 50% payment of everything on the agreement as it will lead to them playing hardball I suspect which was foxy stoat's point, and many many people come on here thinking it is 50% of the time through as they don't really understand.
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