What happens with PCP if I move abroad?
Filed under:
finance
The question
If one takes out a PCP plan and has to relocate to another country, what happens to the car and payments?
Asked by Felicity MacDonald ยท
Expert answer
Hi Felicity,
With most PCP plans you can simply hand back the car and walk away - the value retained in the car is supposed to be sufficient to clear the finance amount. Of course, then you have no asset to trade in at a later stage. You'll also need to check the fine print on your PCP agreement - there may be a time limit as to when you can hand back the car and clear the loan.
Answered by Neil Briscoe