A normal car financing contract will last between three and four years. Many things can change during this period, such as living in a new family or a long journey. Can I change my car to PCP? Fortunately, if you have an agreement on the PCP, you can change cars and they make your life easier. The easiest way to exchange or update your car is to wait until the end of the agreement. But there are also options for making this change in the middle of the contract. Hey, Stuart. Does the way different manufacturers calculate GMFV differ?. The reason I ask is that we come to the end of a 24-month ford options and, of course, we have to pay another deposit to start another plan. Someone we know pulled out a 24-month PCaus at about the same time as us with Audi and now tells us that she changed cars with the same monthly payments and no upfront fee. I find that hard to believe. Is that possible?. Hey, Noel. We recently addressed this issue on our forum (click here), so look at this.
In short, yes, you should be able to do that. You can pay the financing at any time during the agreement, but the guaranteed value only applies at the end of the term. Good morning, Nicola. Yes, you can change the car before the end of your current agreement. You have to settle the agreement in due course and then start a new agreement on what you want to buy next. It is not uncommon for people to want to switch to a cheaper (or cheaper) car. Since the car is owned by the financial company, you cannot change the registration details (for example. B transfer the car of your name to your spouse`s name) and the person who borrows the money must be the holder and the main driver. If you have not repaid 50% of the total amount of financing, you can still terminate the agreement prematurely by paying the difference. For example, if you have already repaid $15,000 and the total amount of funding is $40,000, you must pay an additional $5,000 to reach 50%. If you have already paid back more than 50%, you can voluntarily terminate your PCP contract. But you won`t get a refund.
Good morning, Tindo. First of all, if you have the car for almost 4 years, you should be able to VT now.
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