Ending Car Finance Early | Early Termination of PCP, HP, or PCH
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Can you end your PCP agreement early? what about HP, PCH car finance agreements? Can you do an early termination on car finance agreements in the UK? Car finance explained.
In this video we go over the broad strokes of ending a car finance agreement early using "early termination" and look at what that may mean in terms of charges to you.
Under UK law, you have the right to cancel certain types of car finance agreements early but that doesn't always mean it's a great idea or that it won't cost you a lot of money.
Think of ending car finance early a bit like the early redemption charges you have to pay if ending a mortgage deal early. The car finance company entered into a deal with you and they still want to earn their money, even if you want to exit early.
We also look at what you should do if you know you're going to struggle to make your next car finance payment. The good news is that help is available and you may not need to cancel car your finance early after all.
I won't call these videos car finance tutorials as I'm not qualified to give real advice, think of them as a helping hand toward getting the information you need to make some important decisions.
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Important : This channel tries to deliver honest advice for real people. Remember that I am not a financial advisor or car finance professional and am therefore not qualified to give any kind of financial advice, views shown here are purely my own but you must make your own financial decisions. Always seek professional advice before entering a finance arrangement of any kind and seriously consider your financial position and the long-term affordability of any deal that you may enter into.
00:00 Intro
00:31 The Golden Rule
01:18 Why Would You Cancel Early?
01:29 Can I cancel Car Finance Early?
01:38 Difference Between Main Car Finance Types PCP, HP, PCH
02:54 Like & Subscribe - PLEASE
03:06 Settling an HP Deal Early
03:31 Settling a PCH Lease Early
04:07 Settling a PCP Early
04:58 Struggling to Make Payments on Car Finance
06:06 Should You Ever End Car Finance Early?
06:53 Summary, Blog & Outro
All music used in this video is written, recorded, and produced by me.
𝙋𝙡𝙚𝙖𝙨𝙚 𝙡𝙞𝙠𝙚 𝙖𝙣𝙙 𝙨𝙪𝙗𝙨𝙘𝙧𝙞𝙗𝙚! ;)
