Voluntary termination

[SPEEDBIRD3000]

Afternoon all,

I trust that we are safe and well? I am in the process of VTing my car-long story. I am 31 months into a 48 month agreement and the process has been started.

I had an email telling me that there is a shortfall of £1750 that I will still be liable for. This is despite me being told by Audi finannce that come April that I could VT without any further charges.

My milage total is 40000 miles as per the agreement and I have covered 36000 miles and naturally would anticipate a pro-rate charge for this. The car is in immaculate condition with no damage or scuffs.

I am most disappointed with the whole Audi experience tbh. They carried over negative equity from my last ed A6 over to this A4 that I did have(awaiting collection) and I was not told about this. I have of course complained to the financial ombudsman about this.

Any opinions on this? Thank-you in advance.

 

[NHN]

If you have written proof of the advisory of no costs, then you're fine, just present this to them, if they messed up that's down to them, if no proof, then you're kinda stuck tbh.

 

[cuke2u]

Did audi finance explain where the shortfall is calculated within your PCP agreement? You should have paid 50% of the total amount payable...

 

[SPEEDBIRD3000]

I haven't receievd a full explanation as of yet. I have been paying £490 per month for 33 months. I will await. The new Golf GTI I have ordered wont be here until June/July now-should have been here around 31st March. It is what it is, but I have been well and truly done by Audi with this A4. Never again.

 

[cuke2u]

If Audi finance figures were correct at the time you signed the agreement, and their calculations are still correct now, it is what it is unfortunately. Volkswagen, as far as I understand, use the same finance company...

 

[SPEEDBIRD3000]

I appreciate that. Everytime I phoned Audi finance they said that I could VT in April/May with no penalties or charges. Oh well...

 

[-Ju-]

Can you not work it out from the original paperwork?
If you add up all your payments and any deposit/part ex (I'm guessing this is £0) then if its more than 50% of the total contract price you'll maybe just have the excess mileage to pay for.
If not you can confirm where 50% is

 

[phope74]

One idea...

31/48 *40,000 miles is 25,883 miles - if you are at 36,000, then you are just over 10k miles ahead of where the mileage was estimated to be in month 31

Check your excess pence per mile figure from your sales agreement... £1750 could equate to 10k miles at 17p per mile

 

[SPEEDBIRD3000]

I have dug the paper work out. Yes I accept the figure now. I VTd to escape the horrendous negative equity. Thanks fellas.

 

[L_G]

One idea...

31/48 *40,000 miles is 25,883 miles - if you are at 36,000, then you are just over 10k miles ahead of where the mileage was estimated to be in month 31

Check your excess pence per mile figure from your sales agreement... £1750 could equate to 10k miles at 17p per mile

Voluntary Termination is a statutory right so there is an argument that the contractual mileage rates no longer apply as that contract has been terminated.

However, it depends how much time you want to spend arguing about this with VWFS

 

[phope74]

Agree - it may also depend upon what original poster subsequently signed with VWFS when they responded to his VT request...

 

[Manity]

i worked out my 48 month pcp would be at 39 months 50% of the total.