Voluntary Termination

[Kernowboy]

I’ve just instigated a voluntary termination on my EV (not the Cali) 30 months into a 4yr pcp, as soon as the 50% paid off point was reached. Love the car, hate the depreciation but deliberately bought on finance to protect me from the worst of it in what at the time was a fairly new and unknown market. Keeping it would have cost more than 20k for a car that’s only worth 15k now, albeit the future guaranteed value was also 15k in 18 months time. So back it goes.
What I’m not sure about is my rights wrt excess mileage and condition - have seen lots on the internet that suggests any charges presented for excess mileage or condition can be safely ignored as they aren’t applicable to a VT and whilst the finance company may press they can’t enforce. The car is technically over miles by 5k or so and in generally good condition but there are some scuffs on the alloys I would class as fair wear and tear (it’s done close to 50k).
Does anyone have any experience or knowledge in this area? Thanks.

 

[Justinitus]

I did an 6 month early termination on a contract hire vehicle a few years ago. They sent BCA Auctions to inspect the car. Once it was inspected it was sealed with stickers and I wasn’t allowed to enter the car. My contract terminated at that point.
I was charged up until that day but they waived the early termination fees.
Mileage allowance was worked out pro-rata to that day - any extra miles were charged at the contract excess mileage charge (mine was 7p per mile).
I had 2 scuffed alloys - one passed, one I was charged £35 (I think the allowance was 50mm on the wheel edges).
I had some paint damage on the drivers door edge (wind caught it) and I was charged £50,
Your costs may differ but I think it works on the same principle - cheaper to pay them a penalty than get damage fixed. All very reasonable and professional.
Mine was a BMW through Arval.