PCP vs cash buying

[PhileasFrog]

Thinking of getting a new car on PCP but obviously this works out more expensive than buying cash. Can you easily get out of a PCP contract and pay the balance without any penalties ?

[threadlock]

That's a question for the dealer, surely?

[Griff74]

PhileasFrog said:

Thinking of getting a new car on PCP but obviously this works out more expensive than buying cash. Can you easily get out of a PCP contract and pay the balance without any penalties ?

Yes and people often do, just to get free services, better price etc for buying on finance and then cancel by paying off the full invoice amount, think some make you pay for one or two months first I think.

[anonymous-user]

You can get out of a PCP at any point by paying the outstanding amount on the loan.

There may be an admin charge or similar, so read the loan agreement carefully.

[PhileasFrog]

Griff74 said:

Yes and people often do, just to get free services, better price etc for buying on finance and then cancel by paying off the full invoice amount, think some make you pay for one or two months first I think.

Yes I have done that before to get free services from VW but not sure all manufacturers allow this

[ZX10R NIN]

PhileasFrog said:

Yes I have done that before to get free services from VW but not sure all manufacturers allow this

It's common practice across most Manufacturers, most people pay the first month then clear the finance with no issues.