Help & Advice

PCP Finance on a car with Santander

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.

Gaenor Jones


Answer

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.

Answer correct as of September 2016

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Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

Representative example:

Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83.

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Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

Representative example:

Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83.

Rates may differ as they are dependent on individual circumstances. Subject to status.

CarFinance 247 is a broker and not a lender

We compare products from 18 of the UK's top lenders to get you the best deal.