Handing back at the end of PCP

m1stergeorge

Well-known Member
So I'm entering the final six months on my PCP for my A5 (Thank god!) which expires in August and am thinking about what I need to do. I've got every intention of handing back the car but it's more surrounding the logistics of things. I know I need to get it cleaned and make sure everything is supplied at the point of collection etc.

My question is, how far do I need to give notice to VWFS that I want to hand it back or what have others done? I'm assuming a phonecall/email is enough to advise this is how I want to proceed?

I won't come into equity on it until the final 6-8 weeks of the agreement so trading it in is not an option as I imagine VWFS will need more notice than that to arrange collection etc. Is it a simple case that someone comes to collect, inspects, I sign it off and they take it away? It's sodds law that it needs a service in July, taxing on the 1st Aug (not a big deal as I can pay that monthly for the sake of one month) and MOT'd by the 12th Aug but I'm writing all that off to the general skullduggery of having a PCP agreement. I'm guessing that VWFS rarely collect cars early to avoid the MOT situation etc?
 

Iain42

Well-known Member
So I'm entering the final six months on my PCP for my A5 (Thank god!) which expires in August and am thinking about what I need to do. I've got every intention of handing back the car but it's more surrounding the logistics of things. I know I need to get it cleaned and make sure everything is supplied at the point of collection etc.

My question is, how far do I need to give notice to VWFS that I want to hand it back or what have others done? I'm assuming a phonecall/email is enough to advise this is how I want to proceed?

I won't come into equity on it until the final 6-8 weeks of the agreement so trading it in is not an option as I imagine VWFS will need more notice than that to arrange collection etc. Is it a simple case that someone comes to collect, inspects, I sign it off and they take it away? It's sodds law that it needs a service in July, taxing on the 1st Aug (not a big deal as I can pay that monthly for the sake of one month) and MOT'd by the 12th Aug but I'm writing all that off to the general skullduggery of having a PCP agreement. I'm guessing that VWFS rarely collect cars early to avoid the MOT situation etc?

Worth taking a look at the deal if you want rid. With a PCP, if I understand correctly, you can just return the car if you have paid more than 50% of the value, so you may be in a position to get rid early if you want.

My Velar, also on PCP, is going back (very sad to see this go) at the end of the month, and JLR have contacted me regarding collection.
 

rousetafarian

Moderator
VWFS should contact you 2-3 months before the end date. I linked a really useful website that I cannot find the name of that covers all aspects of PCP, excess mileage and other charges.

In summary you don't pay a penny for going over agreed mileage charges and the car is inline with fair wear and tear you'll be fine.
 

m1stergeorge

Well-known Member
VWFS should contact you 2-3 months before the end date. I linked a really useful website that I cannot find the name of that covers all aspects of PCP, excess mileage and other charges.

In summary you don't pay a penny for going over agreed mileage charges and the car is inline with fair wear and tear you'll be fine.
Thanks mate, I’m surprised that they won’t try and sting for excess mileage though! At a guess I’ll be around 1000 over the agreed mileage. To be honest had it not been for the pandemic, it would’ve been ten times that.
 

un1eash

Distinguished Member
If you want rid now you may be at the point where you can VT.
 

nick67

Well-known Member
As above look into the Voluntary Termination VT, providing you have paid at least 50% of the total invoice including interest you can hand the keys back, obviously charges for excess mileage and any damage.

We’ve done it twice on cars that were not holding their value well, the last was a Mini, the chap who collected said unless there was serious damage to wheels, bodywork etc generally there is no penalty.
 

m1stergeorge

Well-known Member
If you want rid now you may be at the point where you can VT.
I 'think' my VT point is around May (possibly even mid-April) based on the numbers that I'm crunching. I'm not in a major rush to get shot of it as the longer its on the drive, the lower the excess mileage becomes. By May it should be evened out to be fair which by then, I might give VWFS a call to enquire about VT. Am guessing they aren't too helpful in that matter though given I'm trying to end the agreement early.
 

nick67

Well-known Member
I 'think' my VT point is around May (possibly even mid-April) based on the numbers that I'm crunching. I'm not in a major rush to get shot of it as the longer its on the drive, the lower the excess mileage becomes. By May it should be evened out to be fair which by then, I might give VWFS a call to enquire about VT. Am guessing they aren't too helpful in that matter though given I'm trying to end the agreement early.
They are obliged to give you the VT figures as it’s part of the agreement you signed up to, I would be surprised the VT date was only 3 before the end of contract, but it would be depend on the term and balloon payment, just give them a call, or you might be able to do it online.
 

m1stergeorge

Well-known Member
They are obliged to give you the VT figures as it’s part of the agreement you signed up to, I would be surprised the VT date was only 3 before the end of contract, but it would be depend on the term and balloon payment, just give them a call, or you might be able to do it online.
Thanks mate, to be fair, it was a relatively low deposit that I put down on it with slightly increased monthlies to counteract it. The balloon is £16k and change come the natural end of the term so there will be next to no equity on it whatsoever.
 

nick67

Well-known Member
Thanks mate, to be fair, it was a relatively low deposit that I put down on it with slightly increased monthlies to counteract it. The balloon is £16k and change come the natural end of the term so there will be next to no equity on it whatsoever.
If there is little to no equity it makes sense to bail out as early as possible, as your on going monthly payments will be worthless.
 

m1stergeorge

Well-known Member
Yeah I’ve taken this as a valuable leasing really. PCP deals just aren’t for me. The uncertainty about keeping within mileage, the higher than I’d like payments and now the need to change to a petrol car all make sense to change it out. I went through a divorce two years ago where finances were scraping through at best and Audi literally did nothing to help when I needed (and asked for) it so the brand has a slightly sour taste in my mouth.
 

m1stergeorge

Well-known Member
Just to update this, I am indeed at the point where I can VT. Going to get the paperwork over to VWFS today. Silly question, but at what stage do people cancel their direct debit for this type of thing? As soon as VWFS confirm the contract is ended?
 

nick67

Well-known Member
Just to update this, I am indeed at the point where I can VT. Going to get the paperwork over to VWFS today. Silly question, but at what stage do people cancel their direct debit for this type of thing? As soon as VWFS confirm the contract is ended?
As soon as we signed and sent the paperwork we cancelled the DDI.
 

m1stergeorge

Well-known Member
Thanks mate, will wait and see what VWFS come back with. They were back to me within 2 days of making my initial enquiry so hopefully this will be just as speedy. Need to get the car cleaned in preparation (as it hasnt been washed for a year) so hopefully things start to open up soon.
 

m1stergeorge

Well-known Member
And there we have it..
58939472-E106-48CE-A2E9-308D705EAEE1.jpeg


Time to cancel the Direct Debit and figure out how to get the car washed!
 

m1stergeorge

Well-known Member
And today I get a text from BCA with a link. Car is being collected on Tuesday!

The sceptic in me is wondering where the hiccup is gonna be lol.
 

un1eash

Distinguished Member
A quick rinse and vacuum will do. My last car was collected in the dark, the guy spent about 5 minutes walking around it and was happy. Previous guy was very picky and took photos of a single stone chip on the bonnet, didn't notice the scratch on the wing mirror I touched up though.
 

m1stergeorge

Well-known Member
Thanks chaps, it's had a wash and hoover this morning from the local mobile valeter (best I could do at this notice given we are still in lockdown) and in theory should also convey its been well looked after. I'll be stunned if they mark anything down on it that's outside of fair wear and tear given its done 45k on the clock.
 

Spiderpig

Distinguished Member
I'm in the same position with my Macan, the PCP ending in August.

I requested the settlement fee last week and took a look at the trade-in amount offered on a couple of websites - they two figures ended up being pretty much the same (within a couple of hundred quid). I reasoned that:

  • The car will only depreciate further
  • I'm still putting miles on the car (increasing possible overage charges)
  • I'm still paying money somewhat unnecessarily

I spoke with a dealer yesterday, and they seemed happy to take my Macan as part-ex and pay off the settlement figure, saving me money and hassle.

At least that's what I told myself.

As for handing the car back to BCA, I did this with my last car (Evoque), which was valued as far less than the cost of running to the end of the PCP deal. I didn't bother cleaning the car - I figured it would be a waste of time and effort since BCA would probably clean it anyway. I didn't have any comeback on the cleanliness of the car and didn't get charged for any dings/scratches/etc that's part of normal wear/tear.
 

m1stergeorge

Well-known Member
Funnily enough, I've literally just had a call from BCA to say that there are no drivers available to collect today (insert rolleyes here).

Been rescheduled to Thursday so hopefully they keep to things. I told them that the my insurance transfers to another vehicle as of Wednesday and they were fine with it.
 

un1eash

Distinguished Member
I'm sure when my lease went back in December I asked them about delays overlapping the new car and they said as the return has been scheduled as long as it's parked securely they were now liable and it was ok for my insurance to be moved to the new car.
 

m1stergeorge

Well-known Member
I'm sure when my lease went back in December I asked them about delays overlapping the new car and they said as the return has been scheduled as long as it's parked securely they were now liable and it was ok for my insurance to be moved to the new car.
I cant remember word for word but that's pretty much what the guy told me when they called to reschedule as it would be covered under BCA insurance at point of collection.
 

Spiderpig

Distinguished Member
Just make sure you get signed proof they’ve taken ownership. When I took my Evoque back, I literally had to chase one down to get a signature.
 

m1stergeorge

Well-known Member
Just make sure you get signed proof they’ve taken ownership. When I took my Evoque back, I literally had to chase one down to get a signature.
You mean on the V5? I'll just do the transfer online anyway and hang onto the inspectors report as proof of transfer. They sign it on behalf of the existing registered keeper at the moment due to COVID anyway.
 

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