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I have PCP Finance on a car with Santander. Can I Cancel it?

Hi Rachel, I've just taken out a pcp finance contract with Santander on a Kia Picanto. So, i'm paying £150 a month for the next 3 years and then an optional payment of around £4000 after the 3 years if i want to keep the car. I've only had the car for 2 months, having paid 2 months of finance additional to the £500 deposit i put down. The car is in immaculate condition but i have put 2000 miles on it and it was brand new when i purchased it. Do you think they would allow me to return the car as i have been offered a place at university and therefore will be leaving my job and unable to make payments.

Asked by Gaenor Jones

Hi Gaenor, in a word - No. You can't just hand the car back unfortunately. You've committed to an agreement and the only way out would be to pay very large charges levied by Santander for messing them around. Sorry to be blunt but didn't want to get your hopes up.

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

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