PCP - car finance flathunting


I apologise if this in on the wrong board but wondered if anyone has any experience of handing a car back when you have PCP finance on the car?

I took a car on PCP in October 2014 for 4 years and ideally would like to hand it back as soon as I can. I can afford the repayments and am under the mileage associated but would rather not be paying for a car each month.

Is there a specific point in the agreement when you can hand the car back? Does this affect your credit history?

Many thanks for any information.

Yes, you can VT it after you have paid 50% of the total amount payable (including any interest, balloon payment etc) under Consumer Credit Act 1974, Section 99 which will be in your documentation.

Voluntary termination on a PCP doesn't really work.. It's usually at about 3.5 years into a 4 year agreement, dependant on deposit and GFV.. Particularly if you have a PCP on a new car with an exaggerated GFV

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