Author Topic: Paying off/withdrawing PCP early  (Read 1088 times)

Offline MEZZA

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Paying off/withdrawing PCP early
« on: 10 December 2017, 20:36 »
Will probably be ordering a new GTi this week - I know this has been discussed before but just double checking - do you withdraw from the agreement just after signing the finance agreement or after taking delivery,which is likely to be another 12 weeks or so ? - also, some people on internet forums say also you should ask for a settlement figure after 14 days instead of withdrawing within 14 days to avoid the risk of losing the deposit contribution ?

Offline davyk31

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Re: Paying off/withdrawing PCP early
« Reply #1 on: 10 December 2017, 22:11 »
You can't withdraw until after delivery because the agreement does not even start until you have the car. As regards timescales after delivery to be honest I would let it run a couple of months jut to be sure. The interest will be minimal for that period.
Mk 7.5 GTi Indium Grey with 19" Brescias

Offline kalimon

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Re: Paying off/withdrawing PCP early
« Reply #2 on: 10 December 2017, 22:45 »
You can withdraw the day after taking delivery and I would advise you to do so :smiley:
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Offline hog_hedge

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Re: Paying off/withdrawing PCP early
« Reply #3 on: 10 December 2017, 23:52 »
As previously said, take delivery and sign docs. Ring up the next day and settle, then drive your new car that cost you £1000 less and laugh like a mad man :cool:

Offline kane1210

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Re: Paying off/withdrawing PCP early
« Reply #4 on: 11 December 2017, 06:34 »
Finance newbie here. If I withdraw I pay everything balloon included?

Offline davyk31

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Re: Paying off/withdrawing PCP early
« Reply #5 on: 11 December 2017, 07:13 »
Yes if you withdraw then there is no such thing as the balloon. You need to pay the car in full.
Mk 7.5 GTi Indium Grey with 19" Brescias

Offline I wanted a GTi

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Re: Paying off/withdrawing PCP early
« Reply #6 on: 11 December 2017, 09:52 »
As previously said, take delivery and sign docs. Ring up the next day and settle, then drive your new car that cost you £1000 less and laugh like a mad man :cool:

If you buy a GTE is it okay to laugh like the guy in the GTE advert?
5 door GTD in night blue collected 1/3/17

Offline maxie

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Re: Paying off/withdrawing PCP early
« Reply #7 on: 11 December 2017, 10:22 »
i rang them the day after but the paper work hadn't been sent through but rang them again and asked for end of agreement quote and waited a few days for the letter to come through and i then sent a cheque. few days after that i had confirmation. and the car was all mine.. simples :) sent it signed of course.

Offline Macleesh

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Re: Paying off/withdrawing PCP early
« Reply #8 on: 11 December 2017, 20:15 »
Collected mine on a  Friday, cancelled finance on following Monday. No drama, had letter confirming all settled by the following Friday.