Question about PCP

[LightlyDusted]

Im asking for my sister. She bought a car with a PCP (£11k without, £17k with) for 5 years. That’s a pretty bad APR. If she gets a loan & settlement figure, could she just pay it off early?

Yes she could pay it off early, however any loan company would look at her already having £17 debt so could struggle to get a loan with a better APR.

I’ve just called my finance provider and I am doing voluntary termination which works out better financially. This is an option on my finance if over 50% is paid off tho. Another option is to sell the car back to the car company - if you get less than settlement figure then you would need to pay rest off tho.