Cancelling finance early? Will I be second owner?

thehorse · Nov 22, 2016

If I buy the Cali using VW solutions PCP to take advantage of £750 contribution then pay everything off after a few days what happens to the log book? I assume VW finance would be the first owner, so you would be the second owner.

Is that correct?

CoboCali · Nov 22, 2016

no, you always own the vehicle from day 1 and are the registered owner on the V5. The finance company merely hold a legal 'charge' over the vehicle should you try and sell it without paying them first.

Stoneybroke · Nov 22, 2016

thehorse said:
If I buy the Cali using VW solutions PCP to take advantage of £750 contribution then pay everything off after a few days what happens to the log book? I assume VW finance would be the first owner, so you would be the second owner.

Is that correct?

Just settled mine after single payment, registered from day-1 to me, kept the deposit and got the service package saving a bunch of cash.
Remember the V5 is the keeper, not owner, but even with PCP or HP you are the 'owner' unless you default on payments.

thehorse · Nov 22, 2016

That is good to know, thanks!

Stoneybroke - what was the servicing package you got? Can't find this on the vw website.

Stoneybroke · Nov 22, 2016

thehorse said:
That is good to know, thanks!

Stoneybroke - what was the servicing package you got? Can't find this on the vw website.

The deal when I ordered in February was £179+vat for 2x full & 2x main series, plus 1st MOT. When we bought this was £370+vat, but original deal honoured. Package only available with finance deal.