Once you have returned the car to the financial company and you have paid all the penalties if necessary, the agreement will be finally concluded. The PCP agreement was signed the day before the car was received, so how are they going to pay for exactly the excess kilometres? I can say that it is impossible? However, if you have sunk more than half of what is due, if you decide to stop the PCP agreement, you lose the difference between what you have paid so far and what was the 50 percent figure. If the car is depreciated or stolen, you must settle the agreement. It is important to understand that you usually have to make a decision about what you want to do after your last monthly payment, but before the final payment is due. Here`s what you need to know about how a PCP works: Hello, I hope someone can help you. I recently arrived at the end of a PCP agreement with Audi, they say that the option to purchase fees is payable, which can and is only an „administrative fee“. I think it`s a mistake and I have to be due if I keep the vehicle and pay the balance. All thoughts. In detail: I can`t afford to pay for my cars because of the coronavirus, what can I do? Good morning, Stacey.
No, you can`t trade it from one to the other. If you want to keep the car at the end of the PCP, you can either save now and in the years to come to pay for the ball at the end of the deal, or borrow personally to pay for the ball. The GFV only applies at the end of a PCP. Depending on your circumstances, you can return the car prematurely without waiting for the agreement to end. For more information, see our guide to voluntary termination of a PCP. In fact, if you have equity – in car is worth more than the remaining financial balance – you can put that extra amount in the deposit on your next car, reduce your monthly payments on the nearest car. Below, we`ve described the most important information based on what you want to do next, followed by more detailed answers to the most common questions. Hey, Craig. You need to talk to the dealer to get an idea of when the new car will likely arrive and process the order accordingly. You should also receive in writing that they give you a loan vehicle when the financing contract for your old car expires before the new one arrives. In this case, getting in your car is a bad step. If no one will buy your car for the value of the optional final payment, then you should pay the difference between what you could sell the car for and the remaining financing balance to ensure that the lender is paid enough to settle the deal.