What If... I want to get out of my personal contract purchase car finance?

Is there anything you can do if you've bought a vehicle on a personal contract plan (PCP) car finance agreement but you want to end the deal early? Let's look at the options...

So you’ve bought a car on personal contract purchase or PCP, and you want out? Here’s what you can do

Return the car

The first option is to return it. As long as you’ve paid off half of the car – or can pay the difference towards that – then you’re well within your rights to return the car to the finance provider and end the monthly payments.

Early settlement

But what if you don’t want to return the car? Well, if you want to pay off your PCP early, you’ll have to get a settlement figure from your lender. Once you’ve paid this the car is yours to keep or to sell.

Remember, you’re not actually the car’s legal owner until you’ve paid the settlement figure – so you can’t sell it until you’ve paid up in full.

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