pcp advice for top up payments

[jasonh]

Ok, this might raise more questions than it answers.

However the principle behind it is to reduce the monthly payments, and to reduce the interest on the initial loan value.

Probably before the end of the pcp (in 3 years) to have an xpower (estate if possible).


I have already made 1 lump sum payment £4k last year which reduced the monthly sum.
Looking to do the same soon.

OR do I pay more than I thought of (say another £4k) and up this by using a new 0% credit balance card.
I would pay the £4k on my existing card to the finance company Santander, then transfer this balance over to the new 0% card.

I have also been told it would be best to not eat into the gfv for the final balloon payment ?

 

[Ruislip Resident]

So can you pay everything, up to but not including the final payment, off and would this then reduce the interest you pay.

 

[Gadget Geek]

If you are going the 0% credit card, do it today because tomorrow the good deals end. Also, have you seen the misconduct report on car finance by the ombudsman?

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