Moving Abroad Terminate PCP

[Chris]

Hi,

I have an opportunity to move to Australia for work next year and was wondering where I stand with my Kia PCP.

I’ve had my car just short of 12 months now on a 3 year agreement. As mentioned I have the chance to work in Australia next year. This won’t happen for around another 12 months yet and was wondering where I stand on canceling my agreement nearer the time?

I understand you have the ability to terminate after paying back half the amount with no additional fees?

Thanks in advance to anyone that can help.

Chris

[Stuart Masson]

Hi Chris. Have a read of our articles about settling a PCP early and voluntary terminations.

[Daniel]

Hi,

We took out a 4 year PCP with audi in may 2015. Due to my job we are required to move to another country within Europe from the UK. Would we be able to take the car with us and carry on paying providing we have a valid insurance once we arrive in the new country?
Many thanks

[Stuart Masson]

Hi Daniel. You will need to check your finance agreement, and if that does not give a clear direction then call the finance company.
Obviously going to Europe for a holiday is fine, but there may be a clause in the contract which prevents you from permanently moving the car to another country.

[Craig McDowall]

Hi,

We are 3 months into our 4 year PCP agreement and we have just been offered a chance to move to Ireland.

We would love to take the car with us and have contacted the finance company but still await an answer.

If this isn’t possible where would I be left if we decided to move but couldn’t take the car with us? Unfortunately we are nowhere near the 50% voluntary termination rights just yet.

[Stuart Masson]

Hi Craig. You would have to settle the finance, which will presumably be more than the car’s value. It’s one of the factors that you will need to consider when deciding whether to move, but you have signed a four-year finance agreement here in the UK and the finance company is entitled to hold you to it.

[Magdalena Rybska]

Hi Craig, I was just wondering if you heard already from your car finance company. Was the decision positive by any chance? I am now in similar situation as yours. I got new work contract in Poland and wonder if finance company will allow me to take the car as well?

[SEGOY]

Hello,

I would like to know what happens if you buy a car with finance and try to sell it outside UK before finance is paid off?

Thank you

[Stuart Masson]

Hi Segoy. You can’t sell a car while it’s under a secure finance agreement like a PCP or hire purchase, as it’s not yours to sell.

[JIMMY BASS]

Hi I’m moving to Belgium and only just bought a new car through Nissan finance in February on a 4 year finance.
If I take the car with me to Belgium and still keep paying the finance from my English bank would I be able to keep driving it in Belgium for the rest of the finance

[Stuart Masson]

Hi Jimmy. You’ll probably find that your contract has a clause about the car having to be located in the UK (holidays excepted). If it doesn’t specifically mention it, call the finance company and ask them.

[Antonis Theo]

Hello,

I am in kind of similar situation like the rest of the people in this thread however in my case I haven’t bought a car yet but thinking of doing so soon with PCP, with a view also to move back to my home country permanently within the next year or so. From Stuart’s responses to the previous posts, I realize that it’s down to the finance agreement signed, but is there a general “trend” to this? I.e what is the case in market in most finance agreements? Is the export of the car allowed within the contract duration, provided that the payments continue as normal? (Even if there is a small additional fee needed-I wouldn’t mind that)

Also, are there any other alternative ways to get a new car and permanently export it while keeping up the payments of its loan with a view of “buying” it at the end (no return back to dealer)

[Garry]

I started making payments on a car purchased in Spain 3 years ago. I have paid over 50% of the amount, but no longer need the car. Can I return it to the garage and terminate the contract?

[maxsava020202]

I did so recently with VW finance. Simple as calling them and requesting VT, fill in a form and pay the outstanding balance to meet the 50%.

[mike jacklin]

My fiancé leased a VW Golf. She is now in her 4th month lease and is moving to Canada. Can she return the car. She has also lost her job due to the Corona virus and can’t make anymore payments. What can she do and what are her options
Mike Jacklin

[Author]

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