Can I terminate a PCP contract early?
Approximately three months ago I took out a 3-year PCP contract with Toyota. Out of the blue, a great career move has presented itself which would entail me living in Hong Kong. However, I'm slightly concerned that, as far I'm aware, I'm not able to get out of my PCP contract until I've paid the final figure due to Toyota at the end of the contract (not including the GFV figure). Additionally, I wouldn't be able to sell the car privately as it's technically not mine with finance outstanding. Is my only option to take out a bank loan to pay off the Toyota contract and then sell the car privately? Or, and this is what I'm clinging too, do I have any rights to terminate my contract now without being left well out of pocket?
Asked on 8 July 2010 by Matt26UK
Answered by
Honest John
Speak to the dealer. There is always a way out of these things, though not necessarily one you will like very much.
Tags:
pcp
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