Hello, Paul, I`m sorry I heard about your accident. Unfortunately, your accident does not change your PCP situation, since you still owe all the money to the financial company, as stipulated in the agreement. You must ask the financial company for a billing figure (if you move in early, save the interest you would have paid for the rest of the term), and then you hope that your insurance payment will cover your compensation. If there is a deficit, you have to pay for it yourself. The PCP agreement is one of the most popular types of automotive financing. With this type of financing, you have to pay a first deposit, followed by a series of monthly payments. At the end of these monthly payments, you have two main options. Hello Stuart, I really could not afford to pay the explanation you just gave in this article. I bought my Nissan Juke last year, but I soon realized that the car wasn`t big enough for my needs, and I didn`t understand any details of the PCP deal it was selling us. After all, I know what it is. Thank you, brother. Apparently, right now, that is exactly the value of the debt, so that is a good thing. The dealer, however, seemed only anxious to sell me a model of the car identifier ideally (new qashqai, as it was the equivalent model) He left and did some numbers and came back and both were well above my budget, at 100 euros more than I pay now.
Of course, I am aware that the qashqai will cost more, but I want to have one, ideally, as close as possible to what I pay now. Hello. I made a PCP agreement with BMW Finance three days ago, I`m taking the car yesterday. Unfortunately, I won`t be able to keep the car because of a poor medical problem, which means I can`t drive. Is there any chance that I`ll give the car back and settle down early? What are my options? Yes, you can sell the car, either to the dealership or to a private seller, and pay the financing. However, you will take a massive hit on the value of the car (see this article on depreciation, so you owe a lot more than you get for the car. If you think you can`t afford your car during the contract, let the lender know as soon as possible so they can help you get through this difficult pad. Lenders will be happy to consult at an early stage if you think you will have problems paying your loan so they can consider the various repayment options.