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dlav



Member Since: 09 Aug 2017
Location: Windsor, Berkshire
Posts: 3

Another finance query - appreciate any thoughts

Hi all,

Forgive me if this is yet another question on finance (which I am sure you are all sick of) Fairly new here and this is my first post.

I am looking at an unregulated PCP over 4 years, 10K miles per year, £5k deposit on a new 3.0D HSE Dynamic (with a few extras) Have been given a quote of £812 per month with an optional final payment of £38,613. APR working out at 4.9%

The above has been arranged via Fultons with the finance itself through Alphabet.

I would appreciate any thoughts on the above before I sign anything.

Cheers

Post #532422 Wed Aug 09 2017 3:19pm
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james5599



Member Since: 14 Jun 2009
Location: london
Posts: 81

United Kingdom 

The word that would stand out from the above would be unregulated.

Doesn't that mean if you wanted to settle the agreement early they can just charge you what they feel like?!

Post #532434 Wed Aug 09 2017 5:42pm
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dlav



Member Since: 09 Aug 2017
Location: Windsor, Berkshire
Posts: 3

Hi James,

Thanks for the reply. Must admit I'm not entirely sure hence my research and asking on here. I'm a regular with PCP agreements but I have never used an unregulated one before. Im going through the small print as we speak and have found the following:

"You may end this agreement early at any time and keep the Vehicle by paying the Total Amount Payable shown under "Key Financial Information" and any other sums which have become payable less the payments you have already made."

I take that to mean (I think) that they will take my total amount of credit payable minus payments already made, which (again I think) is a normal method of calculating PCP settlements. As far as I can tell the big difference with an unregulated PCP is that you have no automatic right to withdraw from the agreement once you hit the half way point.

If anyone has any experiences similar to the above I would gladly like to hear about it - one way or the other.

Cheers

Post #532435 Wed Aug 09 2017 5:56pm
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Eaters



Member Since: 11 Apr 2016
Location: East Sussex
Posts: 373

United Kingdom 2008 Range Rover Sport TDV8 HSE Zermatt Silver

This might help...

http://forums.moneysavingexpert.com/showthread.php?t=1771229 2008 Range Rover Sport TDV8
Awaiting rebuild: NGTF
Gone:
Jaguar S-Type V8 4.2 Sport
MGZTT 190 2.5

Post #532437 Wed Aug 09 2017 6:18pm
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dlav



Member Since: 09 Aug 2017
Location: Windsor, Berkshire
Posts: 3

Thank you, Eaters.

An interesting read indeed. Aside, I do find it odd that people don't at least work out their minimum break out point in advance with these deals (or not in the case of an un-regulated)

Appreciate any other thoughts.

Cheers

Post #532439 Wed Aug 09 2017 6:34pm
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geoffsnook



Member Since: 19 Nov 2016
Location: cardiff
Posts: 375

Wales 2005 Range Rover Sport Supercharged HSE Java Black

Stay away from such a deal i think Thumbs Up

Post #532442 Wed Aug 09 2017 6:52pm
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DrRob



Member Since: 23 Feb 2011
Location: Hampshire
Posts: 1191

United Kingdom 2012 Range Rover Sport SDV6 HSE Orkney Grey

Why bother when you can do it properly with a regulated one Whistle SDV6 HSE MY2012 in Orkney Grey. Black leather. 34mpg personal best. No bling fitted!!
1993 200Tdi Tdi Range Rover - a proper Rangie!
1949 Series One 80" in family since 1975! Where it all began.....

Post #532443 Wed Aug 09 2017 6:58pm
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