FIAT 500 - Voluntary terminate a PCP, finance company charge?

Honest John Back Room » Legal matters
What is life like with your car? Let us know and win £500 in John Lewis vouchers | No thanks
View Threaded
Sat 8 Sep 2018 11:19
FIAT 500 - Voluntary terminate a PCP, finance company charge? - swifty

Hi,

My wife currently has a Fiat 500 and wants to switch to another on a lease scheme.

She's contacted Fiat finance and they've said she is far enough through her current PCP to voluntary terminate, which is good, however they've told her that there would be a £100 charge if the collect the car compared to if we drive it somewhere they decree.

Am I right in thinking they cannot charge to collect the vehicle under terms of cancellation?

Read something about not signing paperwork of a collection company either?

Appreciate some advice on best way to do this, thanks.

Steve.

Reply | Report as offensive | Link
Sat 8 Sep 2018 11:26
FIAT 500 - Voluntary terminate a PCP, finance company charge? - Falkirk Bairn

Make sure the car is as good as it gets - no scratches, scrapes, bald tyres etc & drive it to their drop off point. Take lots of pictures of car when dropped off/video to show the car is in good condition, no kerbed alloys, tread on tyre legal.

Drop off is easiest route - look at your contract re return of car - all HP companies will have T&Cs but do not sign away your rights to return car early.

Reply | Report as offensive | Link
Sat 8 Sep 2018 12:59
FIAT 500 - Voluntary terminate a PCP, finance company charge? - Bromptonaut

The charge is for collection.

Unless you can show it's not demanded when agreement runs it's course I don't think you can say it's a penalty for voluntary termination.

Reply | Report as offensive | Link
Sat 8 Sep 2018 15:27
FIAT 500 - Voluntary terminate a PCP, finance company charge? - Palcouk

Your 'thought' are incorrect, they are entitled to charge a collection fee.

When any collection Company collects they inspect the vihicle and make note of any damage. If you decline to sign you are shooting your self in the foot

Reply | Report as offensive | Link
Sat 8 Sep 2018 15:58
FIAT 500 - Voluntary terminate a PCP, finance company charge? - RobJP

Under your VT rights in the CCA (1974) your legal liability is limited to half of the amount payable under the terms of the agreement, and any charge or term that places additional liability, directly or indirectly, is prohibited by law.

I suggest you inform them of this, and ask them which monthly payments they wish to cancel or refund, so that they are not acting illegally.

Reply | Report as offensive | Link

A guide to how much VED you will need to pay on your car.

Road Tax Bands and Rates