Re: 159 TI now? or wait?
Hi all - just to update my earlier post about reaching a certain point in the contract. Found an old PCP batch of paperwork for a car which totalled just over £24K - under 'Termination - your rights' it stated that I had a right to end the agreement blah, blah must do it in writing blah, blah the finance company is entitled to half of the amount (e.g. just over £12K) and then says IF YOU HAVE ALREADY PAID AT LEAST THIS AMOUNT PLUS ANY OVERDUE INSTALMENTS AND HAVE TAKEN REASONABLE CARE OF THE GOODS YOU WILL NOT HAVE TO PAY ANY MORE.
My tip therefore is get a PCP term which you're realistic about, but when you reach the magic figure quoted opt to walk away at that point, especially if any GFV amount is in excess of the car's worth and you won't end up with any equity for the new deal.