VW - Settling PCP Early

6
Posted 3rd Nov
Hi guys,

I’m planning to settle a PCP agreement with a 3% loan. We took the agreement out in June and have received a settlement figure of 9k (which from what I’ve read included 1x additional months payment).

The deal that I got includes servicing, breakdown and GAP insurance. If I settle will I get to keep these benefits? Is there anything I should know about.

Separate question - but the car is due for a service in December as per the agreement. Will I have to pay anything towards this?
Community Updates
Ask

Groups

6 Comments
What does your contract say?

Not a single person on this forum can give valid advice on this.
adam_holcombe03/11/2019 18:27

What does your contract say?Not a single person on this forum can give …What does your contract say?Not a single person on this forum can give valid advice on this.


agreed

so much variation in t&cs it's impossible for anyone else to say for sure
I've cancelled Audi Finance PCP early a few times (same as VW just different brand name) and found that everything I was offered I was given etc. still as it was actually separate items (e.g. I had a pack of documentation for this additional insurance or this bit of cover etc.). However, I'd check it with them first - and then maybe work out the cost vs. finance charge benefits as 3% is still quite low for finance - especially from VW/Audi! Its usually nearer 10.
markmc99903/11/2019 21:22

I've cancelled Audi Finance PCP early a few times (same as VW just …I've cancelled Audi Finance PCP early a few times (same as VW just different brand name) and found that everything I was offered I was given etc. still as it was actually separate items (e.g. I had a pack of documentation for this additional insurance or this bit of cover etc.). However, I'd check it with them first - and then maybe work out the cost vs. finance charge benefits as 3% is still quite low for finance - especially from VW/Audi! Its usually nearer 10.


Thank you

Ah my finance was something like 12/13%

The 3% interest is on the loan that I plan on taking out to pay the car off
If this is a Mini, I can confirm that the service plan (TLC) remains in force. I'd check the small print of the GAP insurance to see it it is locked in to the original finance agreement. Breakdown Insurance is usually a part of a new cars warranty so I would imagine it continues. As said above, its all there in the small print, probably need a magnifying glass to find it!
Yes you should keep everything, we took the finance from
VW and cleared it a few days later, kept the 2yr servicing and breakdown.
Post a comment
Avatar
@
    Text

    Discussions

    Top Merchants