It’s not amazingly helpful advice. If someone is on a PCP deal it’s only doable in the last few months, doesn’t apply to leasing (PCH) and leaves you without a car and needing to find £3K for something reliable.
This is called voluntary termination, and it negatively affects your credit rating. I’d be careful doing this.
You’re much better off just putting sand in your engine and writing it off.
better yet, you can do what you like with your car if you don’t buy it on private lease hire.
Heres my solution to giving my car back.
I purchased it used for £750 6 years ago and it still works.
Monthly car payments are for people who want to simply set fire to their money.
>The reality is if you do voluntary termination properly, they can’t stop you. What’s more, voluntary termination will not affect your credit score or credit rating. **However, some finance companies may decline any further finance applications from you.**
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It’s not amazingly helpful advice. If someone is on a PCP deal it’s only doable in the last few months, doesn’t apply to leasing (PCH) and leaves you without a car and needing to find £3K for something reliable.
This is called voluntary termination, and it negatively affects your credit rating. I’d be careful doing this.
You’re much better off just putting sand in your engine and writing it off.
better yet, you can do what you like with your car if you don’t buy it on private lease hire.
Heres my solution to giving my car back.
I purchased it used for £750 6 years ago and it still works.
Monthly car payments are for people who want to simply set fire to their money.
>The reality is if you do voluntary termination properly, they can’t stop you. What’s more, voluntary termination will not affect your credit score or credit rating. **However, some finance companies may decline any further finance applications from you.**
[https://www.thecarexpert.co.uk/car-finance-voluntary-termination-pcp-hp/](https://www.thecarexpert.co.uk/car-finance-voluntary-termination-pcp-hp/)