VW Financial Services .... or experiences of PCP/Lease with them.

Ok bit of an odd title I know, please indulge me ....

So my Cupra was bought on PCP, thanks to the EV price crash, its is in negative equity, but that's not really the point of this post.

My normal MO with the last few PCP's is to settle them and trade the car in against whatever I fancy next, which is what the finance company is gearing the PCP model on.

But due to the negative equity, and because I now fancy a change having dabbled with EV's, I want to move on.

I have four payments left so first port of call, phone VWFS and ask "can I pay my four payments up front now and return the car to you please?" I am thinking this wont be an issue because I am honoring my payments, and they get the car back with 3-4 months less deprecation.

Nope ... cant do that, you will have to either settle up and sell the car, trade it in (and pay the shortfall), pay an amount to take you to 50% of the total loan amount, or let it run its course.

OK that is technically the terms and conditions so I cant argue about that.

But I thought my suggestion would have been beneficial to them too.

Being as I felt they were a bit inflexible and were certainly abrupt to the point of rudeness, I looked to see peoples experiences on trust pilot.

Now I am even more concerned, there are multiple accounts of people having lease or PCP deals where the use an unreliable third party to collect the cars, and abuse the definition of normal wear and tear to extract more money from customers. Several mentioned is like they don't want to take the car back.

So I ask, Has anyone had experience with a straight in contract handback from either PCP or lease, and how was it ?

Personally, from my recent experience, would now advise anyone against using them unless they are 100% sure they will be settling the vehicle at the end, or trading it in for their next vehicle.

Even then, I would see if there is a reputable third party lender you could use.

Personally, I will wash my hands of them once mine is settled, and will not be a VWFS customer ever again.

Edited 17 August, 20241 yr by Mr Grump