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    • jaysan
    • By jaysan 6th Sep 17, 10:41 PM
    • 19Posts
    • 1Thanks
    jaysan
    Advice on Cancelling HP
    • #1
    • 6th Sep 17, 10:41 PM
    Advice on Cancelling HP 6th Sep 17 at 10:41 PM
    Hi, I need some advice / clarification. I have a HP agreement on a Car. Total Amount was for £5366 over 36 months. I have paid £2085 over 16 months. I want out and have the following in the small print.

    "If we recover the goods without a court order and you have paid at least 1/3rd of the total amount payable under the agreement, you can claim back any money you have paid under the agreement."

    Does that mean I can hand the car back and get a refund of £2085? or am I misunderstanding it.

    Just found another bit that seems to countermand the above.

    "Your right to end the agreement early. Must return the goods and pay 1/2 of the total amount payable plus any instalments due for the period upto the date the goods are returned. If you have already paid 1/2 and have taken reasonable car of the goods then you will not have to pay anything more."

    Now I am confused
    Last edited by jaysan; 06-09-2017 at 10:46 PM.
Page 1
    • Mercdriver
    • By Mercdriver 6th Sep 17, 11:29 PM
    • 1,442 Posts
    • 966 Thanks
    Mercdriver
    • #2
    • 6th Sep 17, 11:29 PM
    • #2
    • 6th Sep 17, 11:29 PM
    Hi, I need some advice / clarification. I have a HP agreement on a Car. Total Amount was for £5366 over 36 months. I have paid £2085 over 16 months. I want out and have the following in the small print.

    "If we recover the goods without a court order and you have paid at least 1/3rd of the total amount payable under the agreement, you can claim back any money you have paid under the agreement."

    Does that mean I can hand the car back and get a refund of £2085? or am I misunderstanding it.

    Just found another bit that seems to countermand the above.

    "Your right to end the agreement early. Must return the goods and pay 1/2 of the total amount payable plus any instalments due for the period upto the date the goods are returned. If you have already paid 1/2 and have taken reasonable car of the goods then you will not have to pay anything more."

    Now I am confused
    Originally posted by jaysan
    You're not reading it properly. Before you have paid a third of the total amount including interest, they can seize the vehicle without a court order if you fail to keep up payments on it. After you have paid a third of the balance including interest, they need a court order in order to repossess the vehicle. If they fail to get the court order, then they are in breach and you will be able to claim.

    It doesn't mean you can hand the car back after you have paid a third and get your money back. Or else loads of people would do it - a free hire for a couple of years.

    The rights you do have is to hand the car back once you have fulfilled 50% of the financial terms (not time - unless 0% finance) so once you have reached 50% of the total amount of the agreement:

    Amount financed+interest+charges divided by 2.

    You can return it at any time, but you are liable for the payments to make it to the figure above. The car must also be in good condition.
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