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PCP Skoda finance and death

Home page 2023 Forums Car finance PCP Skoda finance and death

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    • #111361
      Matthew Hall
      Guest

      My father in-law has recently died and had a Skoda Yeti on PCP finance, I believe it is just within the first year and the are wanting £6K from his estate to settle the agreement. Not only does the amount seem high and we are asking for all the details to be sent through, but are they within there rights to claim this money? It seems quite a penalty to his wife as she has enough to go through at the moment.

    • #111502
      stuart 2022Stuart Masson
      Participant

      Hi Matthew. Yes, they are within their rights. Your father-in-law took out finance for the car, and £6K is presumably the amount outstanding to settle the agreement.

      In the event of the death of a borrower, the finance company becomes a creditor to the estate and is entitled to whatever the settlement figure is. A good lawyer may be able to negotiate the amount based on the size of the estate, but in principle they are entitled to whatever the amount is.

      • #111791
        Matthew Hall
        Guest

        Although not what I really wanted to hear but I thought it was the case.
        Thank you for your reply.
        It is very much appreciated.

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