I have an M3 LR 2021 on PCP with Tesla FS, with an M3 LR Highland on order. The PCP settlement figure is around £1.5k higher than the trade-in Tesla is offering, though this might narrow slightly using CarWow or Motorway.
Payments already made on the PCP exceed 50% of the total amount payable. The small print says I can terminate without paying any more when 50% has been exceeded, subject to the vehicle having been kept in good condition (which it has). The pro-rated excess mileage charge would be £500, so I would need to pay at least this amount.
It looks like potential to save around £1k net compared with Tesla trade-in. However, I am thinking Tesla FS are likely to be combative and come up with reparation/recovery costs, the net result being much hassle and less financial benefit than expected.
Has anyone any experience of early termination of a PCP and returning to the finance company in these circumstances? Thanks ...
Payments already made on the PCP exceed 50% of the total amount payable. The small print says I can terminate without paying any more when 50% has been exceeded, subject to the vehicle having been kept in good condition (which it has). The pro-rated excess mileage charge would be £500, so I would need to pay at least this amount.
It looks like potential to save around £1k net compared with Tesla trade-in. However, I am thinking Tesla FS are likely to be combative and come up with reparation/recovery costs, the net result being much hassle and less financial benefit than expected.
Has anyone any experience of early termination of a PCP and returning to the finance company in these circumstances? Thanks ...