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Post by teenagefanclub on Oct 13, 2020 14:47:19 GMT
Anyone any experience of this?
Returning mine but they say needs a service, but it's not stated in there terms and conditions??
Just says must have mot, ins and tax.
Guy on the phone stressed to me as long as service light isn't showing on collection day then it will be fine.
So basically clear any service lights with the help of YouTube?
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Post by crapslinger on Oct 13, 2020 15:20:34 GMT
Anyone any experience of this? Returning mine but they say needs a service, but it's not stated in there terms and conditions?? Just says must have mot, ins and tax. Guy on the phone stressed to me as long as service light isn't showing on collection day then it will be fine. So basically clear any service lights with the help of YouTube? PCP is not a good idea unless you have a company that is paying car allowance even then the mileage allowance is so low you get penalised when you reach the end of the contract, I always found that a company vehicle even with the tax implications is a better deal. |
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Post by foghornsgleghorn on Oct 13, 2020 16:30:19 GMT
Anyone any experience of this? Returning mine but they say needs a service, but it's not stated in there terms and conditions?? Just says must have mot, ins and tax. Guy on the phone stressed to me as long as service light isn't showing on collection day then it will be fine. So basically clear any service lights with the help of YouTube? PCP is not a good idea unless you have a company that is paying car allowance even then the mileage allowance is so low you get penalised when you reach the end of the contract, I always found that a company vehicle even with the tax implications is a better deal. Nothing wrong with PCP if you do it right - mine is interest-free for 3.5 years based on 20,000 pa mileage . |
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Post by crapslinger on Oct 13, 2020 16:39:38 GMT
PCP is not a good idea unless you have a company that is paying car allowance even then the mileage allowance is so low you get penalised when you reach the end of the contract, I always found that a company vehicle even with the tax implications is a better deal. Nothing wrong with PCP if you do it right - mine is interest-free for 3.5 years based on 20,000 pa mileage . Are you driving a Renault ? 20k pa was too low for my needs back in the day. |
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Post by Deleted on Oct 13, 2020 17:33:34 GMT
I'd be surprised if there wasn't a stipulation in the Contract that you need to keep the car serviced in line with the Manufacturer's plan.
As long as it's not due, you're not obliged to have it done.
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Post by teenagefanclub on Oct 13, 2020 17:38:28 GMT
I'd be surprised if there wasn't a stipulation in the Contract that you need to keep the car serviced in line with the Manufacturer's plan. As long as it's not due, you're not obliged to have it done. Fully up to date with previous services, 3rd service is due 2 days before car is due to be given back. |
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Post by Huddysleftfoot on Oct 13, 2020 17:46:34 GMT
Are you actually doing a VT or are you at the end of the term?
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Post by Deleted on Oct 13, 2020 19:05:55 GMT
I'd be surprised if there wasn't a stipulation in the Contract that you need to keep the car serviced in line with the Manufacturer's plan. As long as it's not due, you're not obliged to have it done. Fully up to date with previous services, 3rd service is due 2 days before car is due to be given back. The last two I've sent back, I've arranged the collection date to fall just before the service date, never been questioned. Who's the finance provider? |
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Post by foghornsgleghorn on Oct 13, 2020 19:26:48 GMT
Nothing wrong with PCP if you do it right - mine is interest-free for 3.5 years based on 20,000 pa mileage . Are you driving a Renault ? 20k pa was too low for my needs back in the day. Toyota |
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Post by marylandstoke on Oct 13, 2020 20:18:00 GMT
Anyone any experience of this? Returning mine but they say needs a service, but it's not stated in there terms and conditions?? Just says must have mot, ins and tax. Guy on the phone stressed to me as long as service light isn't showing on collection day then it will be fine. So basically clear any service lights with the help of YouTube? I think it’s great you have stopped doing PCP in the car. Now be strong and quit completely  |
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Post by teenagefanclub on Oct 13, 2020 21:37:55 GMT
Are you actually doing a VT or are you at the end of the term? Vt |
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Post by teenagefanclub on Oct 13, 2020 21:38:44 GMT
Fully up to date with previous services, 3rd service is due 2 days before car is due to be given back. The last two I've sent back, I've arranged the collection date to fall just before the service date, never been questioned. Who's the finance provider? Seat through vw finance, moving to a skoda through..... Vw finance |
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Post by fourfourtwo on Oct 13, 2020 21:58:40 GMT
Anyone any experience of this? Returning mine but they say needs a service, but it's not stated in there terms and conditions?? Just says must have mot, ins and tax. Guy on the phone stressed to me as long as service light isn't showing on collection day then it will be fine. So basically clear any service lights with the help of YouTube? Don't VT! I work in finance, previously for a car finance broker and now in the leisure finance industry. I know everyone has the rights to VT, but the lenders hate it. Although they say it won't affect your credit rating (which is true), lenders can still implement special terms for anyone with previous VTs. It flags red on most lenders credit searches, as a warning. 2 lenders I work with will require anyone who has previously VT in the past, to put a 20% deposit into any new finance plans. Why are you looking to VT? Upgrade current vehicle, or no longer required? My advice would be to sell privately. If you need any more advice drop me a PM, happy to give any further advice. Strongly recommended anyone not to VT though. FourFourTwo |
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Post by teenagefanclub on Oct 13, 2020 22:01:56 GMT
Anyone any experience of this? Returning mine but they say needs a service, but it's not stated in there terms and conditions?? Just says must have mot, ins and tax. Guy on the phone stressed to me as long as service light isn't showing on collection day then it will be fine. So basically clear any service lights with the help of YouTube? Don't VT! I work in finance, previously for a car finance broker and now in the leisure finance industry. I know everyone has the rights to VT, but the lenders hate it. Although they say it won't affect your credit rating (which is true), lenders can still implement special terms for anyone with previous VTs. It flags red on most lenders credit searches, as a warning. 2 lenders I work with will require anyone who has previously VT in the past, to put a 20% deposit into any new finance plans. Why are you looking to VT? Upgrade current vehicle, or no longer required? My advice would be to sell privately. If you need any more advice drop me a PM, happy to give any further advice. Strongly recommended anyone not to VT though. FourFourTwo Swapping car, got a good deal on new car and at the point I can vt. £600 difference between owed amount and value of car so didn't want to build negative equity into the deal. |
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Post by NassauDave on Oct 13, 2020 22:02:50 GMT
Anyone any experience of this? Returning mine but they say needs a service, but it's not stated in there terms and conditions?? Just says must have mot, ins and tax. Guy on the phone stressed to me as long as service light isn't showing on collection day then it will be fine. So basically clear any service lights with the help of YouTube? Or a black Sharpie.  |
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Post by fourfourtwo on Oct 13, 2020 22:05:21 GMT
Sounds like a dealer has told you to VT, due to wanting to upgrade?
Just remember they have 1 thing on their mind only, and that is to get you to buy their motor under any circumstances.
If you have negative equity there are still ways around it without VT.
Can't stress enough to think hard about it. Some lenders will just decline your application because of a previous VT, others will make you put a high deposit in. This is to cover this risk of you VT with them. They lose thousands and end up with a car that they will make a massive loss on, as they aren't a dealer they just arrange the finance in an office x then next thing they've got a car on their works car park that you no longer want.
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Post by fourfourtwo on Oct 13, 2020 22:07:14 GMT
Don't VT! I work in finance, previously for a car finance broker and now in the leisure finance industry. I know everyone has the rights to VT, but the lenders hate it. Although they say it won't affect your credit rating (which is true), lenders can still implement special terms for anyone with previous VTs. It flags red on most lenders credit searches, as a warning. 2 lenders I work with will require anyone who has previously VT in the past, to put a 20% deposit into any new finance plans. Why are you looking to VT? Upgrade current vehicle, or no longer required? My advice would be to sell privately. If you need any more advice drop me a PM, happy to give any further advice. Strongly recommended anyone not to VT though. FourFourTwo Swapping car, got a good deal on new car and at the point I can vt. £600 difference between owed amount and value of car so didn't want to build negative equity into the deal. For the sake of £600 either build it into your finance or pay the difference yourself. Not worth the headache in years to come, remember the lenders will see the VT for 5 years. Won't show on your credit report or knock it down, but will put lenders off borrowing you money in the future |
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jack1
Youth Player
Posts: 297
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Post by jack1 on Oct 16, 2020 18:17:47 GMT
Anyone know if it impacts negatively on your credit history if you cancel the finance agreement in the 14day cool off period, and pay for the car in full?
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Post by fourfourtwo on Oct 19, 2020 6:49:50 GMT
Anyone know if it impacts negatively on your credit history if you cancel the finance agreement in the 14day cool off period, and pay for the car in full? No mate, same as settling a loan or credit card 👍 |
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