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End Of Agreement

What are your options? 

There are multiple different end of agreement options, find out which apply to your contract with the links below.  

Solutions (PCP)

What are your options at the end of your Solutions Personal Contract Plan agreement? 

We hope you enjoyed your vehicle. If you would like another one, your Solutions plan simply enables you to part-exchange your current vehicle for a new Volkswagen. You will need to settle your existing agreement and then apply for a new one with us (subject to application and acceptance).

1.1 We can, if necessary, extend your agreement for a short period to allow delivery of your new vehicle (if for any reason your new car is not due for delivery in line with your contract end date). This is called a Short Term Concession and can be managed through the retailer network. They will need to supply us with a commission number and estimated delivery date of your new vehicle no later than one month before your agreement end date. During this time we will continue to debit monthly payments in line with your existing payment plan. All arrangements will be confirmed in writing to you.

It may also be helpful to know:

  • The maximum term of a Short Term Concession is 12 months or 11 months if you have had a payment date change throughout the agreement.
  • We are unable to authorise a Short term Concession if the Direct Debit for the final payment has already been requested.

Please contact your local retailer who will talk you though your options: 

Volkswagen: Find your local Volkswagen retailer.

Audi: Find your local Audi Centre

SEAT: Find your local SEAT retailer

ŠKODA: Find your local ŠKODA retailer.

Volkswagen Commercial Vehicles: Find your local Van centre

Porsche: Find your nearest Porsche Centre.

Bentley: Find your nearest Bentley retailer

If you would like to keep your current vehicle, you will need to pay your final payment and option-to-purchase fee. We will collect your final payment by Direct Debit and begin to close the agreement down. 

Once your agreement has been settled we will automatically transfer ownership to you. The closing down period takes 10 days, after which time a letter will be sent to you to confirm that we no longer hold an interest in the vehicle.

2.1 Alternatively, if you wish to keep the car but want to spread the cost of the final payment we can consider arranging to refinance the final (balloon) payment for you, subject to your status and satisfactory payment history.

Should you wish to be considered for this option, please contact us no later than one month before your agreement is due to end, so we can provide you with quotations and submit your application for an underwriting decision in a timely manner.

It may also be helpful to know that: 

  • Applications to refinance can only be made by our customer themselves.
  • You can put down a deposit so that the refinance balance is lower. 
  • The final (balloon) payment can be no less than £1000.00.
  • The new monthly payment cannot be less than £50.00 per month.
  • If approved, documentation can be sent via E-Signature so please ensure your email details with us are up to date.
  • The agreement should not be in arrears.
  • Your credit file will be checked as part of the application process.

 

3.1 If you no longer wish to keep the vehicle at the end of the agreement term, you can return it to us. You will still need to pay all the monthly rentals and the option to purchase fee. Further charges may apply if you have exceeded your agreed mileage, or if there are any refurbishment costs following inspection and collection. 

We recommend you read the BVRLA Fair Wear and Tear Guidelines, found here.

We will require a minimum of one months’ notice in order to arrange the vehicle collection. Requests made after this date may result in a risk of you requiring additional Insurance, Road Tax or even an MOT, along with the possibility of the Direct Debit for the final (balloon) payment being applied for.

Our collection agents will contact you directly to arrange a convenient time for the Inspection and Collection of the vehicle via the contact details you have provided us with. 

 On the day of inspection please ensure that:

  • The vehicle is clean, inside and out
  • You have all the relevant documentation (e.g. service book, registration document V5, MOT certificate, etc.)
  • You return all equipment supplied with the vehicle (e.g. spare key, satellite navigation, CD/DVD, warning triangle). 

The inspector will record any damage (and cost of repair) or missing equipment/documentation and you’ll be asked to sign to confirm your acceptance of the report.

 It may also be helpful to know:

  • If you have a personalised number plate that you are intending to keep, you will need to take the relevant steps to have this removed prior to submitting your request to return the vehicle to us.
  • The Direct Debit for your final (balloon) payment may be applied for if we are not given adequate notice of your decision to return the vehicle.  So please contact us within the timescales detailed above.
  • An inspection of the vehicle will be completed prior to collection of the vehicle and you may be liable for refurbishment and/or excess mileage charges.
  • We will invoice you shortly after the collection of the vehicle if any charges are applicable.
  • The option to purchase fee will still be collected by Direct Debit so that we can sell the vehicle at auction on your behalf. 

Whichever one you choose, please contact us within the timeframes provided above to ensure that we have adequate time to address your preferred option and avoid applying for your Final (Balloon) Payment by Direct Debit unnecessarily.

Hire Purchase

What are your options at the end of your Hire Purchase agreement? 

At the end of the agreement, once you’ve paid all payments and the option-to-purchase fee, the vehicle is yours to keep, or to use as part exchange for another vehicle. 

Please contact your local retailer who will talk you though your options: 

Volkswagen: Find your local Volkswagen retailer.

Audi: Find your local Audi Centre

SEAT: Find your local SEAT retailer

ŠKODA: Find your local ŠKODA retailer.

Volkswagen Commercial Vehicles: Find your local Van centre

Porsche: Find your nearest Porsche Centre.

Bentley: Find your nearest Bentley retailer

Lease Purchase

What are your options at the end of your Lease Purchase agreement? 

At the end of your contract you have the following options: 

1. To keep the vehicle. 

You will need to pay the final rental payment (the final proportion of your loan) and the option-to-purchase fee, the car then belongs to you.

2. To part exchange the vehicle for another vehicle. 

All payments will be required to be cleared upon a part exchange, and we recommend that you speak to a retailer about the part exchange options available to you. 

Please contact your local retailer who will talk you though your options: 

Volkswagen: Find your local Volkswagen retailer.

Audi: Find your local Audi Centre

SEAT: Find your local SEAT retailer

ŠKODA: Find your local ŠKODA retailer.

Volkswagen Commercial Vehicles: Find your local Van centre

Porsche: Find your nearest Porsche Centre.

Bentley: Find your nearest Bentley retailer

3. Refinance your final 'balloon' repayment. 

Refinance your final balloon repayment over 12-60 months, subject to the age of your vehicle. At the end of your refinance contract you will pay the option to purchase fee and take full ownership of the vehicle. 

Contract Hire

What are your options at the end of your Contract Hire agreement? 

Once you have paid all outstanding rentals, you simply hand your vehicle back, subject to fair wear and tear and excess mileage charges. 

Our collection agents will attempt to make contact with you 6-8 weeks before the end of your agreement to arrange a convenient time to inspect and collect your vehicle.

What to expect at the end of your agreement

When your agreement comes to an end, your vehicle will undergo an end of contract inspection by our collection agents. 

Their trained inspector will inspect your vehicle in line with the British Vehicle Rental and Leasing Association (BVRLA) Fair Wear & Tear Guidelines, a copy of the guidelines can be found below.

Fair Wear and Tear Guideline (BVRLA Industry Standard)

The inspector will record any damage (and cost of repair) that falls outside of the guidelines and you’ll be asked to sign to confirm your acceptance of the inspection report. 

Volkswagen Financial Services damage charges guide can be found here

On the day of inspection, please ensure that:

  • The vehicle is clean, inside and out.
  • You have all the relevant documentation to hand supplied with the vehicle (user manual etc.)
  • You return all equipment supplied with the vehicle (e.g. spare key, satellite navigation memory card, spare wheel, parcel shelf etc.)

Buying your vehicle

As the agreement holder, you are not allowed to buy the vehicle yourself, however, if you know of a third party interested in buying the vehicle, they can get a quote by clicking here.  

Finance Lease

What are your options at the end of your Finance Lease agreement? 

At the end of your agreement, once all rental payments have been made, you can:

1. Provide details of an independent third party to Volkswagen Financial Services. We will then sell them the vehicle for the current fair market value and you will receive 90% of the vehicle sale proceeds (minus VAT). The independent third party is usually your vehicle retailer. 

Please contact your local retailer who will talk you though your options: 

Volkswagen: Find your local Volkswagen retailer.

Audi: Find your local Audi Centre

SEAT: Find your local SEAT retailer

ŠKODA: Find your local ŠKODA retailer.

Volkswagen Commercial Vehicles: Find your local Van centre

Porsche: Find your nearest Porsche Centre.

Bentley: Find your nearest Bentley retailer

2. Or enter into an annual secondary hiring period and retain the use of the vehicle. The secondary hiring rental payment is 4% + VAT for commercial vehicles of original (VAT exclusive) invoice price, payable annually in advance and 1% plus VAT for passenger cars.

At the end of your agreement, once all rental payments (including the final rental payment) have been made, you can:

1. Provide details of an independent third party to Volkswagen Financial Services. We will then sell them the vehicle for the current fair market value (as per Full Payout) and you will receive a percentage of the vehicle sale proceeds (minus VAT). The independent third party is usually your vehicle retailer.

Please contact your local retailer who will talk you though your options: 

Volkswagen: Find your local Volkswagen retailer.

Audi: Find your local Audi Centre

SEAT: Find your local SEAT retailer

ŠKODA: Find your local ŠKODA retailer.

Volkswagen Commercial Vehicles: Find your local Van centre

Porsche: Find your nearest Porsche Centre.

Bentley: Find your nearest Bentley retailer

2. Or you can enter into a secondary hiring period and retain use of the vehicle. The secondary hiring rental payment is 4% plus VAT for commercial vehicles of original (VAT exclusive) invoice price, payable annually in advance and 1% plus VAT for passenger cars.