PCP agreement

[toomuchfaster]

I have a question about an error on a PCP contract. I signed up for a 4 year contract, but the end date is 5 years from the date of signing. Does anyone know if this gives us any leverage? Is it worth approaching a solicitor to discuss? The quote I got from a solicitor was £220 for a look at, which I can't really afford to waste! Thanks.

Leverage to do what? Are you trying to get out of the contract? You're unlikely to be able to void the contract because of one error.

@NaturalStudy I want to renegotiate to extend if possible, or get cheaper monthly payments.

You might be able to argue it should be 5 years if the other party is somewhat willing, which they might be as you'll pay more interest if you extend the term of the deal. Its worth having a go but not worth paying a solicitor for.

You thought it was 4 years. The paperwork says 5 years. So the monthly payment I expect is based on 5 years... you could ask for them to check that.

You want an extension to the 4 years... looks like it is 5 years so are you looking for length longer than 5 years?

No-one can answer your question without seeing what the contract actually says.

Thanks for the answers.
@nannynick it's not what I thought, it says 48 months (ie 2019-2023) ending in 2024. I'd like to extend it to 2024 to delay the balloon payment.
@NaturalStudy thanks. Do I approach the car company or the finance company? My understanding is they are different parts trading under the same company name.

If it says 5 years rather than 4 then I'd say there's leverage.

Contact the provider in writing and ask for clarification of the terms and take it from there.

CAB are quite good at stuff like that - check out their public site for guidance.