Not 100% sure but I know when my old man had his Q3 on a PCP with VWFS he got in touch with them about adding a tow bar to it and was told it wasn't an issue but at the end of the agreement he would have to revert the car to its original specification if he was going to hand it back to Audi. I guess if you are planning buying it at the end or trade it for another vehicle its not an issue. I guess the only other area is if you default on payments and the vehicle is re possessed they might try and sting you for additional costs to return to original specification.
Far as I know you don't become the legal owner of the vehicle on a PCP until the final payment is made, legal title is held by the finance provider up until this point.
Far as I know you don't become the legal owner of the vehicle on a PCP until the final payment is made, legal title is held by the finance provider up until this point.
Not much you can change unless your going to keep and pay the balloon payment.
Yes it's a strange area. I had posted this question on a forum where a guy had bought a van on pcp and then had a full conversion to camper done.
It was moved to here as a new topic. I was trying to understand if it had been sanctioned by the finance company.
That idea just scared me as I am sure that the owner may need a say in that.
It was moved to here as a new topic. I was trying to understand if it had been sanctioned by the finance company.
That idea just scared me as I am sure that the owner may need a say in that.
You’ll be the registered keeper but not the owner. If you’re going to mod & keep after the contract period, then save up to pay the final GFV.
If the van goes back during the contract period and the value is less than what’s expected then you pay the gap. Whether due to a conversion or maluse.
PCP is just another finance option. Best to calculate the PCP total payment against an old fashion HP agreement to work out your options.
If the van goes back during the contract period and the value is less than what’s expected then you pay the gap. Whether due to a conversion or maluse.
PCP is just another finance option. Best to calculate the PCP total payment against an old fashion HP agreement to work out your options.
I am buying my T6 with finance from VW, but by taking this route, VW gives me a nice £2,500,00 contribution.
As you say, I am in the process of a full camper conversion but I have never asked VW if they were happy at this arrangement as (I hope), I will never be in a position to miss a payment. If, god forbids I find myself not affording the payments and VW take the vehicle away, the value of the converted vehicle will (fingers crossed) be in excess of what I owe them.
I think I should be ok...
HP the same as PCP you don't have legal title to the vehicle until the agreement is settled in full, the only way to have legal title from day 1 is to either purchase outright or arrange unsecured borrowing, like a bank loan where the funder has no interest recorded against the vehicle.
I'm unsure what your point of quoting my post is here....
just saying that doesn't matter if you use PCP or HP, legal title doesn't pass till the agreement is settled in full. OP was originally about who the legal owner was on a PCP and what were the implications for modifying during this period. Sorry if I caused offence.
