Help Please

kitty_and_gucci_2008

Hi All,

I have Finance with Welcome Financial Services (oh no!!!!), I signed the HP agreement in November 2006.

7 months later, personal issues forced me to lower the payments which they were happ to help out with. I signed a new HP agreement extending the terms to 6 years. I have just this minute confirmed it was a HP agreement I signed in 2007.

Can I hand the car back even though I extended the terms?

Just wanted your feedback, before I ask to do this, as I want a new car, and my finances are great now.

Thanks.

LandyAndy

AFAIK you can hand the car back when you have paid 50% of the total repayments.

I would speak to Welcome and ask them what your options are both now and in the future.

AdrianHi

The other option is just arranging for the outstanding balance to the HP agreement to be settled as you make the transaction on the next car. If the next car is being bought from a dealer it should not be a problem, they handle this scenario often enough, just need a settlement figure from the HP company in writing.

kitty_and_gucci_2008

Hi All,
Just found out that the car is still on HP, and double confirmed this with the chap on the phone, and also enquired about handing the car back after 50% has been paid, to which the chap said that is ok to do so. Going to up my payments so can pay it off quicker to the 50%.

Thanks.