PCP help please

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PedroT
Posts: 739
Joined: Sun Jul 12, 2015 6:34 pm
Location: Galloway

Re: PCP help please

Post by PedroT » Sat Jul 25, 2020 1:11 pm

I did same as RPR, seemed to work well.
New 2020 S 150d with a few extras, kept just below £40k to reduce tax.
MY16 SE Plus Pano Roof Rev camera removable tow bar. Prev. Kia Sportage

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PaulCP
Posts: 826
Joined: Mon Aug 15, 2016 7:57 pm
Location: Suffolk

Re: PCP help please

Post by PaulCP » Sat Jul 25, 2020 1:49 pm

SteveT wrote:
Sat Jul 25, 2020 10:34 am
If you pay your PCP loan off early, do you just pay the remainder of the loan value (plus any settlement charges) or do you have to pay off the "final lump sum" on the vehicle as well at the same time - or can you just pay of the rest of the loan bit and then still return the vehicle at the end of the PCP period for the FMV?
You buy yourself out of the full agreement hence the full outstanding balance incl the final lump sum but excluding any interest charges after the settlement date.
It is now illegal for finance companies to charge interest penalties
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SteveT
Posts: 53
Joined: Wed Mar 14, 2018 8:43 pm

Re: PCP help please

Post by SteveT » Mon Jul 27, 2020 9:01 am

Thanks
DS MY18 HSE Luxury TD4 Auto 180
Santorini Black, Roof Rails, Flaps, Entertainment Pack (with InControl Touch Pro Nav), Privacy Glass, 19" Black Wheels

badboy1984
Posts: 9
Joined: Thu Jul 30, 2020 10:00 pm

Re: PCP help please

Post by badboy1984 » Sat Aug 01, 2020 1:41 pm

Some of the sales people will tell you to take out pcp deal to get the extra discount and then like other said, you pay it off the following month, the interest you have to pay is very little compare to the discount you get. Once you sign a dea with the finance, is down to you and the finance company. In this case the dealer get their sale and you get your discount.

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