Author Topic: Voluntary termination  (Read 2460 times)

Offline Mk1Macca

  • I live here
  • *****
  • Posts: 855
Voluntary termination
« on: 13 May 2017, 22:57 »
As the title. Anyone done it? What's involved? What are the time scales?

My wife has ordered a new 7.5. Her current 7 1.6TDi is in negative equity and will have about 6 month six left on her her 4 year PCP when her new car arrives.

Dealer said VT was the best way to go?

Offline evo1986

  • Forum Supporter
  • I live here
  • *****
  • Posts: 1,329
Re: Voluntary termination
« Reply #1 on: 13 May 2017, 23:38 »
As the title. Anyone done it? What's involved? What are the time scales?

My wife has ordered a new 7.5. Her current 7 1.6TDi is in negative equity and will have about 6 month six left on her her 4 year PCP when her new car arrives.

Dealer said VT was the best way to go?

All you need to do is call Volkswagen finance customer services and they will advise the next steps.

Recent situation with one of our customers it took roughly 3-4 weeks to get there current car inspected and collected.

So my advice is get it organised well in advance of collection of the new car because otherwise it will possibly delay collection of the new one.
Sales Manager
Select Car Leasing West Midlands
Leeevans@selectcarleasing.co.uk
WhatsApp: 07389107119

Former General sales manager at Volkswagen for over 13 years.

Offline Mk1Macca

  • I live here
  • *****
  • Posts: 855
Re: Voluntary termination
« Reply #2 on: 14 May 2017, 08:40 »
Are you still having to make a payment after you tell them you want to VT?

Also, as it's a separate agreement, how would it hold up delivery of the new car?

Offline evo1986

  • Forum Supporter
  • I live here
  • *****
  • Posts: 1,329
Re: Voluntary termination
« Reply #3 on: 14 May 2017, 09:10 »
Yes you will still need to make payments until collection.

The reason it may delay collection is because most of the time they will not activate the new agreement until the old car had been collected or at the very least a final time and date for collection has been agreed.

What you just need to be sure of is to keep in contact with your retailer regarding the collection of your old car and they can speak to VWFS to agree a suitable action. However most of the time you willl not be able to take collection of the new car until the old one has been collected or like I said earlier at the very least a collection time and date has been finally agreed.
Sales Manager
Select Car Leasing West Midlands
Leeevans@selectcarleasing.co.uk
WhatsApp: 07389107119

Former General sales manager at Volkswagen for over 13 years.

Offline TurboTrev

  • I live here
  • *****
  • Posts: 528
Re: Voluntary termination
« Reply #4 on: 14 May 2017, 15:28 »
Re. VT, I keep hearing that if you've paid 50% or more then there is no money owing to VW (unless they try to bill you for excess mileage which is another story).  What is this 50% figure that keeps gets mentioned and how do you work out what your current % is?  Thanks.

Edit.  Since posting the above I've found this which explains:  http://www.thecarexpert.co.uk/car-finance-voluntary-termination-pcp-hp/
« Last Edit: 14 May 2017, 15:46 by TurboTrev »

Offline mcmaddy

  • Forum addict
  • *
  • Posts: 5,274
Re: Voluntary termination
« Reply #5 on: 14 May 2017, 15:30 »
Should all be in your finance agreement paperwork.
TCR, Pure Grey, DCC, Dynaudio and Climate Screen.