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“ He was also told that if he pays of 50% of the loan/credit he can return the car and terminate his contract, or he can return the car early cancel the contract but he will get a bad credit rating. When he asked what percentage he had already paid bearing in mind this is a 3 year contract an...

For a Voluntary Termination you have to have paid 50% of the total amount payable, the figure will be in your finance docs. Unless you put down a big deposit (cash or part ex.) on the deal I'm afraid that after only 1 years payments on a 5 year loan you are currently well short of the 50% figure. Ho...

“ doesn't there pcp deals say you will never own the car, maybe wrong but seen that in a few adverts of theres <a href="/showthread.php?s=3036385c25683f06b8cb9955b5233a43&p=72162618#post72162618" rel="nofollow" title="View original post">Originally posted</a> by chanz4 ” The ones wh...

At the end of the PCP term the finance company don't usually extend the loan as such but rather arrange a new loan to cover the final payment due so you can keep the car. Whether or not Mercedes or any other finance company would do that for you would depend on their assessment of your credit worthi...

About right I'm afraid, see table below from the Guardian loan calculator with figures pretty close to yours at 70% APR. The balance after 9 payments plus up to 58 days interest is around the same as yours ie very high. Sorry can't get the figures to line up properly but hope you can follow it. You'...

“ Unfortunately it isn't feasible time-wise for me to take it to a garage to get it fixed and the way I see it, it's not my problem that they didn't fit the part before they gave me the car. There's also the expense of transporting myself to and from the garage. ” Would have thought try...

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