Well, the Octavia has gone. Returned it back to Skoda Finance as I was over half way on the repayments and trade-in was about £1k less than settlement figure. I've enjoyed certain aspects of the Octavia, not enjoyed the dealer or Skoda UK experience.

So thanks to everyone for help and guidance over the past two years.

And my new car........a Lexus LS430.

Was your car on PCP or just HP ?

PCP, only had about 9 months left to go.

So you handed the car back, did you have any problems in doing so. I only ask because I'm in the same position with my car and was thinking of doing the same.

I phoned Skoda Finance, they check to make sure you are over half way on repayment costs and if you are they will send you a form and details of what they expect from you (car condition, service, MOT if applicable, 2 keys etc). Complete the form and return then their agent will call you to arrange a time and place for collection. He turns up, checks the paperwork and car condition, signs the handover form and yellow part of V5 for you to returd to DVLA then drives of in your old car. Job done.

Ok, so they didn't have any quarms about returning it and did or would this affect another finance on another car ? Sorry for going on I'm looking at swapping to a MK6 Golf but my mileage is a little high for the dealer to take it (or it will be time they get a new car from the factory, 12 to 16 wks) So I was wondering if I could do that and then go buy another car without being affected.

The documentation I got from Skoda finance mentioned nothing about any note being added to my credit history, however it may have done on the original contract. I have also read conflicting reports on the web that a marker is put on your history, not a "bad" marker as such, just a marker saying you have voluntarily terminated - might make another car finance company look twice in case you turn into a serial PCP terminator. Nothing stopping you applying for the new car finance before deciding whether to terminate your old PCP.

At the end of the day you are entitled to cancel under credit law so you are doing nothing wrong, just not giving those last few months interest to the finance company!

Thanks for your reply, much appreciated.

I did this with my vRS and the VW dealer recommended I took out the finance on my new car before I handed my vRS back, as a result, had both cars for a couple of weeks which was fun :P

I have used this practice a couple of times with no come back at all.

I did this with my vRS and the VW dealer recommended I took out the finance on my new car before I handed my vRS back, as a result, had both cars for a couple of weeks which was fun :P

Indeed - had 3 cars to shuffle around the drive/garage for a week or so but all sorted now and back to the two. Apparently my Octy will be off to auctions at Peterborough - be interesting to know what it goes for.....