Ah... but when you read every third word on every second line, suddenly the real message becomes clear. Wake up sheeple.As per my initial comment!!
Mainly stating the bleeding obvious…
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Ah... but when you read every third word on every second line, suddenly the real message becomes clear. Wake up sheeple.As per my initial comment!!
Mainly stating the bleeding obvious…
What if the supply / production chain issue exist to ensure prices remains inflated and thus saving auto makers from “owning” the risks of returned PCPs? It’s a long shot but it’s a possibility….
For record, I think the earth is roundish….
That's Hire Purchase where you can terminate after 50% of payments, I don't think you can terminate PCP early without paying off the remaining balance in full.Surely the whole point of a PCP is to offer protection to the consumer. As long as you've paid at least half of the agreed loan back then you can just hand the car back at any time.
Being less of a sarcastic ass about it, isn't this (one of the reasons) why gap insurance exists?
Anyone can terminate their PCP contract after 50% of the total amount payable has been paid. This is referred to as voluntary termination, which is a legal right covered under Section 99 of the Consumer Credit Act 1974.That's Hire Purchase where you can terminate after 50% of payments, I don't think you can terminate PCP early without paying off the remaining balance in full.
Of course. derp moment. so his next article will be a surprised reaction to the sharp rise in "accidents" resulting in write-off?That’s only if you wrote the car off though not if you default on payments?
Anyone can terminate their PCP contract after 50% of the total amount payable has been paid. This is referred to as voluntary termination, which is a legal right covered under Section 99 of the Consumer Credit Act 1974.
Of course. derp moment. so his next article will be a surprised reaction to the sharp rise in "accidents" resulting in write-off?![]()
Exactly this! My point was more relating to others that were suggesting there's a PCP time bomb! As long as people pay their monthly's on the PCP until either the contract ends or they pay 50% of the loan off, then they are totally secure from any fluctuation in the valuation of the vehicle.Sure, but aren’t you pretty much at the end of the term by then?
Emira finance… 50% is c49k paid/remaining, balloon 46k, so you’re almost done when you’ve paid 49k off
Article is behind a paywall.Subscribe to read
www.ft.com
Ft
Just google Financial Times PCP and it lets you read it. It did for me anyway!Article is behind a paywall.
Read it but it just states the obvious.Subscribe to read
www.ft.com
Ft
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