END OF CONTRACT OPTIONS
PERSONAL CONTRACT PURCHASE (PCP)
There are a range of options available at the end of a PCP contract. Your supplying retailer will be happy to guide you through these options and the processes involved. Here you can find all the information you need to make a decision and inform us of your intention.
1: RETAIN THE VEHICLE
Retain the vehicle by paying the optional final payment.
If we receive no contact from you regarding your PCP option and you have an active direct debit in place, we will attempt to take the final payment from your account on your due date.
If you wish to make your payment using a different method, click here to obtain the relevant payment details or to pay by credit or debit card.
2: RETURN THE VEHICLE
You will no longer be liable to pay your optional final payment. There’s nothing more to pay if the vehicle is in good condition and within the agreed mileage terms. See guide below to find out more.
It is important that you inform us of your intention to return the vehicle to us before the final month of your agreement. We will then aim to contact you before the final two weeks to discuss and arrange collection of the vehicle.
You will need to be present when the vehicle is collected, we will inspect the vehicle to check its mileage and overall condition. A report will be completed detailing this information and will be presented to you before the vehicle is taken away.
3: RENEW THE VEHICLE
Choose another vehicle, using any excess part exchange value that is above the optional final payment towards your deposit.
Your supplying retailer will be able to assist you in exchanging the vehicle and setting up a new finance agreement, subject to approval.
You will need to do this in good time; if a new finance agreement is not accepted by the date the final payment is due you will be liable for making the payment.
ADDITIONAL INFORMATION
Please read the below guide on Fair, Wear & Tear for more guidance on vehicle conditions when returning the vehicle.
Please read the guide below on your PCP options before making your decision.
FREQUENTLY ASKED QUESTIONS
Here are some of the most commonly asked questions relating to PCP end of agreement options
In the final months of your PCP agreement, we will contact you in writing and, if possible, by SMS on a number of occasions to ensure you are aware of the options you have.
Use this time to assess your options and make a decision that best suits your needs, it is recommended that you inform us of your intention before the final month of your agreement.
Under certain circumstances we may allow you to reschedule your Optional Final Payment. Please speak with a member of our Customer Services team if you would like to discuss this.
Excess mileage charges will apply at the end of the agreement where you have exceeded your agreed mileage limit. In such cases, a pence per mile charge will be applied to the number of miles you have driven above the allowance stated in your agreement documentation.
If you are unsure about which option to choose, your supplying retailer will be happy to guide you through these options and the processes involved. Alternatively, you can contact us on:
| Account Management Fees | Empty |
|---|---|
| Copy statement of account | £12.00 |
| Change of payment due date* | £25.00 |
| Change of vehicle registration plate | £30.00 |
| Collection of vehicle upon voluntary termination of agreement | £70.00 |
| Transfer of agreement fee** | £150.00 |
| Arrears Management Fees | Empty |
|---|---|
| Monthly arrears fee*** | £35.00 |
| Internal collection agent visit | £50.00 |
| External collection agent visit | £250.00 |
* One change of payment due date is allowable free of charge any time during the agreement.
** Only applicable for agreements not regulated by the Consumer Credit Act, i.e. transfers from one limited company to another limited company.
*** When your payment is made late and for every subsequent month that your agreement remains in arrears, limited to 3 in any single defaulting period. The charges detailed within this document are correct as at 30th July 2014. Genesis Finance reserves the right to amend these fees at any time.
IS YOUR NEW CAR DELAYED?
Please fill complete this form to request a 12 months rescheduling of your current agreement.
CONTACT US
If you'd prefer to talk to someone, we're here to help.