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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Can we pay off a PCP up front in full?

Hi, We have applied for PCP for a car and been turned down as our mortgage is paid off and our current car was paid off 5 years ago. My husband doesn't run bank account. We are able to pay the entire 36 month contract upfront. Can we do this to improve my husband's credit record? Thanks

Posted by kathy on


Hi Kathy, apologies for the late reply and thank you for using our Q&A. It may be a silly question but what do you need a PCP for if you can pay it off up front and in full? No company would accept this without hefty early termination charges and it wouldn't effect your husbands credit record. My advice if you wanted to improve your husbands credit record is simply to get a UK bank account, a contracted mobile phone and a small credit card. That should do the trick. Sorry to be quite blunt. If i have missed anything please let me know. Kind Regards, Edwin

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