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ending an hp agreement

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superreddamo
superreddamo Posts: 4 Newbie
in Motoring
hi all, i have a renault laguna whose engine has decided to pack up with a year left to pay on the car-about £1000 with the car having an original value of £7000. If the car was running i would be able to hand it back, is this still the case with it being a non-runner? I am asking this because i have spent a fortune on the car, it has fsh, all mot's etc and it was the car that packed in rather than any negligence on my part. Cheers

Comments

  • harveybobbles
    harveybobbles Posts: 8,973 Forumite
    when you say "packed up" care to erm, ellaborate..?
  • superreddamo
    superreddamo Posts: 4 Newbie
    total engine failure, bearings gone, crank shaft knackered-the only way to fix it would be to buy a new engine which would be another £1500 on top of 2-3000 quids worth of repairs over the past year
  • Hintza
    Hintza Posts: 19,420 Forumite
    10,000 Posts Combo Breaker
    Check which type of agreement you have not all of them will allow early termination so read your contract.

    The second point being assuming you can terminate via a VT can that be done if the car is knackered?
  • superreddamo
    superreddamo Posts: 4 Newbie
    The car is knackered, however, it has been serviced regularly, repaired, looked after, but then the engine blows up after 70k miles-less than 10k a year... Is this taken into account with a VT which my contract allows as the engine failure was not down to my negligence but rather it being a rubbish engine???
  • Lemonade_Pockets
    Lemonade_Pockets Posts: 1,162 Forumite
    I can't remember the exact terms, but i'm almost 100% sure if its a non runner you cannot VT the agreement.
  • superreddamo
    superreddamo Posts: 4 Newbie
    cheers mate-anyone fancy a beautiful Laguna, runs perfectly down hill??
  • harveybobbles
    harveybobbles Posts: 8,973 Forumite
    You probably could VT the car, but they'd chase you for the extra money it didnt make at auction. A fully functioning one could make £3000 at auction, but a non runner could make £1000 tops, so they would chase you for the extra 2000.

    you need to detirmine what caused the engine to fail in such a way.
  • Sirbendy
    Sirbendy Posts: 537 Forumite
    500 Posts
    easy - it was built by Renault. Heh. Having owned 2, I'd only own a 3rd if I was paid to. Nice, comfy, chocolate electrics, and build quality that in some respects is..characteristically French IMO.
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