Getting out of a PCP?

[simonp]

Is it possible? I'm six months into a 3 year PCP on a SEAT Leon, but I don't like the car and hate the useless dealers that come with it. What I'd like to do is get out of this car and back into a Golf, preferably an R, as the lack of traction this car exhibits is really starting to annoy me!

[dansmith180]

If you're after trading to a different car then you've probably got a fair chance. If you were trying to leave it and not get another one theres probably a hefty charge somewhere in the contract.

[Beddie]

Getting out of a PCP is simple...

You're too early into the agreement for a voluntary termination (you need to be half way in/50% settled to be able to hand back early and walk away with no penalties,

One option is to part ex the car and take whatever value is offered to clear the outstanding finance and then simply start again with a new car, there's a good chance at this early stage into the pcp that you may be in negative equity so may have to add cash to the px valuation to clear the finance though,

The other option is to sell the car privately or to a used car buyer and have them clear the finance and you just walk away, again this may lead to a negative equity situation depending on how much you get for the car compared to the outstanding finance..

Assuming you're with VWFS the first thing I'd do is ring up for a settlement figure so you know how much you owe and can then plan accordingly