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  1. #1
    DF PwNagE liveseytowers's Avatar
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    Help Returning a car to finance company?

    I am in negative equity on my Skoda Rapid and will be voluntary terminating the finance at the end of the year and replacing it with an A4 Black Edition. I've never given my car back to a finance company before so wanted to hear about other peoples experiences. I'm assuming the car will be inspected for damage in the same way a leased car would be, which should follow these guidelines [Only registered and activated users can see links. ]

    Generally the car is in very good condition, however there are a few stone chips on the bonnet that are through to the metal and a small 2.5 scratch to the piano black inserts between the doors on the drivers side. I will be able to polish the insert bit out but was wondering if I should bother getting the chips repaired or just leave them and risk being charged?

    What are peoples experience of returning a car to the finance or lease company?
    Last edited by liveseytowers; 19th October 2018 at 12:29 PM.

  2. #2
    DF Jedi hoponbaby's Avatar
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    Default Re: Returning a car to finance company?

    As long as you've gone past the 50% of total amount required then as long as the damage isn't excessive then you should be fine. They tend to get the car collected and sent to BCA etc so the inspections are carried out in the same way as for leased vehicles, small stone chips (within guidelines) are ok. Depends on how much it would cost to get repaired - if there is a decent chipsaway type company nearby then it can be worthwhile getting them done first - might mean you're paying 50 that you would have got away with but better than potentially getting a repair bill from them for 200.

    Thanks to hoponbaby

    liveseytowers (22nd October 2018) 


  3. #3
    DF Jedi tef89's Avatar
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    Default Re: Returning a car to finance company?

    Quote Originally Posted by liveseytowers View Post
    I am in negative equity on my Skoda Rapid and will be voluntary terminating the finance at the end of the year and replacing it with an A4 Black Edition. I've never given my car back to a finance company before so wanted to hear about other peoples experiences. I'm assuming the car will be inspected for damage in the same way a leased car would be, which should follow these guidelines [Only registered and activated users can see links. ]

    Generally the car is in very good condition, however there are a few stone chips on the bonnet that are through to the metal and a small 2.5 scratch to the piano black inserts between the doors on the drivers side. I will be able to polish the insert bit out but was wondering if I should bother getting the chips repaired or just leave them and risk being charged?

    What are peoples experience of returning a car to the finance or lease company?
    From what I've read (never terminated a car finance agreement personally) whilst VT'ing car finance won't have an adverse effect on your credit history the finance company may well choose not to lend to you in the future. Just something to keep in mind if you're planning on using another VWFS product in the future.

    No idea how true this is in real life though.

    [Only registered and activated users can see links. ]
    Last edited by tef89; 21st October 2018 at 04:42 PM. Reason: Added source

    Thanks to tef89

    liveseytowers (22nd October 2018) 


  4. #4
    DF PwNagE liveseytowers's Avatar
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    Default Re: Returning a car to finance company?

    I found a VW data sheet that had the costs of repairs and it was 36 for a large stone chip which wasn't too bad. I'm going to give the car a really good clean and do an inspection myself and see what it looks like.

    I have read that finance companies don't like a VT but i'm hoping that as i'll be replacing it with an Audi via Audi finance when the 3 years is up that won't matter.

    Interesting that no one here has returned a lease car before though, i thought there would be a few people with experience.

  5. #5
    DF Jedi Brydo666's Avatar
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    Default Re: Returning a car to finance company?

    Quote Originally Posted by liveseytowers View Post
    Interesting that no one here has returned a lease car before though, i thought there would be a few people with experience.
    For me one of the benefits of doing a lease is that you agree a term upfront that you intend to keep the car for. If you know you'll not keep the car for four years then you'd opt for a shorter term and pay a few quid extra a month. When buying with PCP it's a little different though, most people take cars over a four year term but VT it when half the balance is paid or when the dealership offers them a new deal after two years.

    I'm interested to hear how it goes for you though.

  6. #6
    DF PwNagE liveseytowers's Avatar
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    Default Re: Returning a car to finance company?

    Quote Originally Posted by Brydo666 View Post
    For me one of the benefits of doing a lease is that you agree a term upfront that you intend to keep the car for. If you know you'll not keep the car for four years then you'd opt for a shorter term and pay a few quid extra a month. When buying with PCP it's a little different though, most people take cars over a four year term but VT it when half the balance is paid or when the dealership offers them a new deal after two years.

    I'm interested to hear how it goes for you though.
    So have you every returned a lease car? Its the same process when the car is inspected and returned and this is the bit i'm interested in. Keen to know how fussy the inspectors are etc. Whenever i've changed cars before i've had equity in the car so the finance just got paid of and what was left went into the new car.

  7. #7
    DF Jedi hoponbaby's Avatar
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    Default Re: Returning a car to finance company?

    Only ever had one lease car where they were fussy (with JCT600) over petty things and told them to get stuffed which they did Never had an issue or charge with the other 7/8

    2 Thanks given to hoponbaby

    liveseytowers (25th October 2018), tef89 (26th October 2018) 


  8. #8
    DF Jedi Brydo666's Avatar
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    Default Re: Returning a car to finance company?

    Quote Originally Posted by liveseytowers View Post
    So have you every returned a lease car? Its the same process when the car is inspected and returned and this is the bit i'm interested in. Keen to know how fussy the inspectors are etc. Whenever i've changed cars before i've had equity in the car so the finance just got paid of and what was left went into the new car.
    I haven't mate, we always do PCP but I think we'll be looking at a lease for our next car. Some good deals out there, on Lings etc.

  9. #9
    DF Jedi tef89's Avatar
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    Default Re: Returning a car to finance company?

    Only ever had one lease car where they were fussy (with JCT600) over petty things and told them to get stuffed which they did Never had an issue or charge with the other 7/8
    Had my A3 with JCT600 on PCP. About 18 months in the COD activation started making a momentary 'crunch' noise. Service manager went through a list of comedy non-waranty reasons for this, ending with pinking ffs. Then they offered me less 800 less on buy back than WBAC lol - sold it WBAC with about 1K equity so never had to go through their insepction thankfully.

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