Checks when handing back car on pcp

[martynd7]

Hi there I have voluntarily terminated my pcp on my 63 plate Citigo Sport and have been given the 11th of Jan as my hand back date, the front tyres are a little close to the legal limit and the MOT is due at the end of Jan, I just wondered how picky the driver is when he picks up the car and checks it over, the car is perfect other than that. I do not want to be given a hefty bill on the day so just wondered if anyone has gone through this process and can advise.

[Didescharlie]

There is no obligation on your part other than for the car to be "in reasonable condition". There are no other stipulations. So don't let them stiff you for excess mileage etc. Having said that, when I came to trade in my Citigo, Skoda Finance suggested I o down this route and the whole thing was trouble free.

 

As for what you've said, as long as the tyres are legal you should be fine - I'd check the tread depth yourself and take pictures with that day's newspaper in the shot. Again, the car will be within the MOT period so not to worry either.

 

Only rule of thumb I have is DON'T SIGN ANYTHING. Even the condition report when the guys comes round to collect, if you don't agree don't sign it.

[adam85james]

I handed an Fiesta back in 2006 under the same scheme

 

It was in horrible condition with scratches on the back bumper, dings to the door and less than 1mm left on the brake pads before they were illegal. The alloys were also dinged to buggery but it had an MOT....

 

Including the last payment of £135, the total bill was £200.

 

Ford sent it straight to auction and somehow, it's still on the road today

 

 

[Lady Elanore]

You should be able to find out what is allowed when you return the car. If it's in the condition you describe there shouldn't be a problem. You are allowed a couple of stone chips and a very small minor scratch usually anyway. They realise that a car will not be mint after being driven for 2 or 3 years. The transporter driver does have to complete a visual assessment of your car though, as if he misses any damage to the bodywork etc the manufacture will hold him responsible for the damage (of course it could be a female transporter driver too :) ). The same thing happens when a new car is delivered to a dealership. The compound guy or representative of the dealership will assess any damage they see as the cars come off the transporter. Sometimes as much 25% of a load might have some damage or marks (usually from overhead trees). It's not about the manufacturer trying to 'stiff' you, but rather the transporter company not wanting to be held liable for damage. 

 

I've VT'd a car on a PCP (a SEAT on VW finance) and it was in good condition, so there were absolutely no problems. In fact the whole thing was a bit of an anti climax :D

[Didescharlie]

"You should be able to find out what is allowed when you return the car."

 

Please remember that whatever their demands are, they do not stand up legally. When VTing a car, there is no other stipulation than the car must be in "reasonable condition", vague as it sounds.

 

Remember that the car, once collected, will be sent straight to the auctions. If they try to stiff you for any repairs whatsoever you can simply demand to see all bills and receipts relating to the repair before paying - which they won't be able to provide as they won't actually carry any works out just trying to get more money out of you.

 

However, As I see it, manufacturers are much more understanding about VTs than they used to be. As I said earlier, SKoda even suggested I go down this route and I had no trouble whatsoever.

[Lady Elanore]

It's an interesting side note, but many PCP's finance is with financial houses not connected with the manufacturer, this means when you VT your car whether it's on PCP or HP, the financial house ends up with the car :D Bit like popping into your bank and handing the keys over at the till :D 

[SimonJ]

I've replaced the wheels on my Citigo with Serpens and will be taking them off to sell when i return the car later this year. Will I have to replace with the same type of wheels as originally supplied or does it not matter? Will anyone check? 

[WaveyDavey]

I've replaced the wheels on my Citigo with Serpens and will be taking them off to sell when i return the car later this year. Will I have to replace with the same type of wheels as originally supplied or does it not matter? Will anyone check? 

 

Did you not keep the original wheels??? If it's a PCP deal I would have thought it was a good idea to have kept the originals to put back on the car???

[Didescharlie]

Did you not keep the original wheels??? If it's a PCP deal I would have thought it was a good idea to have kept the originals to put back on the car???

 

As I understand it, under a PCP deal the car is yours to do what you please, unlike a lease where you are essentially renting and must return the vehicle as supplied. If the wheels on the car are OEMs, I doubt anyone would notice anyway.

[WaveyDavey]

As I understand it, under a PCP deal the car is yours to do what you please, unlike a lease where you are essentially renting and must return the vehicle as supplied. If the wheels on the car are OEMs, I doubt anyone would notice anyway.

That's right you do own the car on a PCP deal.

My point was that the person said they had replaced the original alloys with others he had bought and that when it came to handing the vehicle back he was going to remove the new alloys and sell them. He then asked if he needed to get the original style wheels again when returning the vehicle....... So why sell the originals in the first place if you are then going to have to buy another set of originals to put back on the car when returning it?

[GeneralPurpose]

I've replaced the wheels on my Citigo with Serpens and will be taking them off to sell when i return the car later this year. Will I have to replace with the same type of wheels as originally supplied or does it not matter? Will anyone check? 

 

As you do not own the car until you have made the final payment, if you return the car it must be in 'reasonable condition' (that allows for fair wear and tear) and it must be as you bought it. In other words you are just renting it very much like a lease deal. So the original wheels must be on the car when it's returned, unless you got permission of the owners to change the wheels and leave them on when returning it. On the note about the actual car ownership, you do own it for 'insurance purposes only'. In other words you insure it as though you own it, but you must tell your insurers that it's owned by your finance company. Yeah...I know. Weird eh! I know this as I'm in discussions with VW finance about my own car which has some problems.

[SimonJ]

Aurigas now refitted.

 

Edited 20 January, 2017 by SimonJ

[redrook]

On 10/01/2017 at 15:30, Didescharlie said:

 

As I understand it, under a PCP deal the car is yours to do what you please, unlike a lease where you are essentially renting and must return the vehicle as supplied. If the wheels on the car are OEMs, I doubt anyone would notice anyway.

 

On 10/01/2017 at 15:59, WaveyDavey said:

That's right you do own the car on a PCP deal.

My point was that the person said they had replaced the original alloys with others he had bought and that when it came to handing the vehicle back he was going to remove the new alloys and sell them. He then asked if he needed to get the original style wheels again when returning the vehicle....... So why sell the originals in the first place if you are then going to have to buy another set of originals to put back on the car when returning it?

 

Completely wrong. You DO NOT own the car under PCP, the lender is the owner. You only become the owner when there is no finance on a car. Under PCP you are actually the registered keeper, the owner is the finance company. 

[redrook]

On 06/01/2017 at 07:57, Didescharlie said:

There is no obligation on your part other than for the car to be "in reasonable condition". There are no other stipulations. So don't let them stiff you for excess mileage etc. 

 

You don't have to pay excess mileage if you do a Voluntary Termination, but you must have paid half the value (or they can legally pursue you for half the contract value). https://www.thecarexpert.co.uk/car-finance-voluntary-termination-pcp-hp/

 

They can charge you excess mileage if you see the contract through to the end.

[redrook]

4 minutes ago, redrook said:

They can charge you excess mileage if you see the contract through to the end.

 

Discussion of not paying only seems to apply to pro-rata mileage when you VT, not the mileage at the end of the contract - https://www.thecarexpert.co.uk/car-finance-voluntary-termination-pcp-hp/2/

You can take out a pcp deal for 5K miles a year, drive 30k and then VT, but you can't do the same if you want to see your contract through, otherwise they'll simply deduct the charge from your equity I believe.

Edited 23 January, 2019 by redrook