The true cost
Voluntary Termination 50% Calculator
Work out the 50% point on your PCP or HP — the figure you must reach to hand the car back.
Redress estimate
Any figures here are an estimate, not a promise, and nothing on this page is financial or legal advice. You can claim free yourself — you don't need a claims firm.
Half the total payable
£9,000
the VT threshold
Still to pay to reach it
£3,000
Your 50% voluntary termination point
- Paid so far
- £6,000
- Total amount payable
- £18,000
Voluntary termination lets you hand a PCP or HP car back once you've paid 50% of the total amount payable (Consumer Credit Act 1974, s99/s100). It doesn't apply to leasing (PCH). This is an estimate — check your own agreement.
How we work this out
The voluntary termination point is 50% of the total amount payable. Total amount payable = deposit + (monthly × term) + any balloon (GMFV) and fees. The 50% figure is half of that. We then subtract what you have paid so far to show how much is left to reach it.
This is an estimate, not advice or a settlement quote. Your lender's statement shows the exact total amount payable and your 50% figure — always confirm it with them.
Full method: how we calculate.
Voluntary termination lets you hand a PCP or HP car back once you have paid 50% of the total amount payable, under the Consumer Credit Act 1974. This calculator estimates that 50% point and how much further you have to go to reach it.
The 50% figure is half of everything you would pay to own the car — deposit, all payments and any balloon. Enter your agreement details above to estimate where the 50% line sits.
What is voluntary termination?
Voluntary termination is your legal right to end a PCP or HP agreement once you have paid 50% of the total amount payable, and hand the car back owing nothing more. It is set out in the Consumer Credit Act 1974.
The right comes from Consumer Credit Act 1974, sections 99 and 100. It applies to PCP and HP regulated agreements — not PCH (leasing). You can read the full process in voluntary termination — this page just helps you find the 50% figure.
What is the 50% point?
The 50% point is half of the total amount payable — the figure your payments must reach before you can voluntarily terminate. Total amount payable means the deposit, every monthly payment and any balloon added together.
Your right under the CCA 1974
A worked example of the 50% figure
On a £20,000 car on HP with a total amount payable of about £23,697, the 50% point is roughly £11,849. With a £2,000 deposit already counted, you reach it after about 22 monthly payments.
Worked example
PCP vs HP: the 50% point differs
On PCP the 50% point is higher than on HP, because the balloon is part of the total amount payable. So you usually reach the VT point later on a PCP.
Because the PCP total includes the balloon, you can hit the 50% line before you have made many monthly payments if your deposit and the balloon are large. Always check the exact total on your agreement.
| HP | PCP (£8,000 balloon) | |
|---|---|---|
| Total amount payable | ≈ £23,697 | ≈ £25,087 |
| 50% point | ≈ £11,849 | ≈ £12,543 |
| Includes balloon? | No | Yes |
What voluntary termination costs you
Voluntary termination itself is free, but you may be charged for damage beyond fair wear and tear or for exceeding the agreed mileage. You also lose what you have already paid.
If you want to keep the car but clear the finance faster, compare VT with settling early on the settlement calculator, or weigh up all your exit routes in ending car finance early.
- You owe nothing more on the finance once you have paid 50% and returned the car.
- You may be charged for damage above fair wear and tear, or for being over the mileage limit.
- If you have not yet paid 50%, you can still terminate but must pay the difference to reach it.
Where to get advice
This is an estimate to help you plan, not financial or legal advice. For your exact figures and your options, speak to your lender and a free advice service.
Get the real figure first
Frequently asked
What is the 50% point for voluntary termination?
How do I work out my voluntary termination figure?
Does my deposit count towards the 50%?
Is the 50% point different on PCP and HP?
Is this voluntary termination figure official?
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