PCP & Voulantry Termination

[pjduffill]

Well the BMW was collected yesterday at 08:30 hrs. the guy spent 15mins inspecting the car. Said no issues, no invoice for wheel scuffs, dent & dings (phew) took it away. Cancelled my insurance with Sheilas Wheel (who dont cover Cali’s?) paid a penalty for cancellation, got my NCB statement. Week 43 build, should be ready to come over briney shortly. Got a free space on the drive for an overnight christmas wild camp.

 

[Saesneg Shaun]

If you exercise your right to withdraw (not settle) from PCP and pay the finance company off then its as if the agreement never existed leaving no impact on your credit score. This must be done within 14 days of signing the finance paperwork (usually when you take delivery)

And I have just done this today. I paid a whopping £30 in interest.

 

[pjduffill]

It was a no brainier for me:

made around £6,000 between residual and settlement.
Got circa £9,000 of my Cali

 

[pjduffill]

Just had my credit report four weeks after dobbing my BMW in via voulantry termination!

Can see that the agreement has been removed.

******* Credit rating gone up *******