PCP Disaster When Youngsters Get Credit !
Discussion
northwest monkey said:
Voluntary Terminate - if you buy a car on "normal" HP, you can give the car back once you've paid 50% of the amount you borrowed. Apparently, you can also do it with a lease but I don't know how that works.
50% of the amount repayable, not 50% of amount borrowed. HenrysDad said:
northwest monkey said:
Voluntary Terminate - if you buy a car on "normal" HP, you can give the car back once you've paid 50% of the amount you borrowed. Apparently, you can also do it with a lease but I don't know how that works.
50% of the amount repayable, not 50% of amount borrowed. Sounds like a real disaster story!
Tell him to get a cheap used car next time or a lease with GAP insurance.
That is a ridiculous amount to pay for a diesel A4. Seems to be £22K (+damages) over 4 years?
This is why PCP is dangerous when most people don't know what all the financial costs/penalties are and also the final balloon payments and values can be confusing.
Tell him to get a cheap used car next time or a lease with GAP insurance.
That is a ridiculous amount to pay for a diesel A4. Seems to be £22K (+damages) over 4 years?
This is why PCP is dangerous when most people don't know what all the financial costs/penalties are and also the final balloon payments and values can be confusing.
Faisal_uk said:
This is why PCP is dangerous when most people don't know what all the financial costs/penalties are and also the final balloon payments and values can be confusing.
This is how dealers make their money. If we could all do maths and understood the cost of borrowing they'd get no business.Gassing Station | Car Buying | Top of Page | What's New | My Stuff