Can i Rtn.a catog.c w/off mid hp contract

CARCRAZY_2

My car is an uneconomical repair.Catagory C write off. I'm in the process of being paid a chq.from my insurance. I have requested that I also retain the salvage - as I feel I can repair the car to of "good condition and repair" for a fraction of the original insurance estimate.(incidentally my current vehicle registration/log book states that I am the registered keeper-not the lease company)

My Fortis lease contract states I can return the car and walk away providing I've paid at least half the finance off. In 3 months time I will be an a position to do exactly that. Also, I must return the car with a valid MOT, road tax and vehicle registration document. However, it will quite clearly show on my vehicle registration that the car has been a cat.c write off. Will they accept it back - without any further charges to me?

If i am unable to return the car, should I tell them its been in an accident and ask for a settlement figure - so I can pay them off? Are they more likely to offer me a more favourable settlement figure? Will they require proof that it's been in a crash? If so, what proof will they require?
Regards

standupguy

From what you say it sounds like you have a HP agreement rather than a lease?

The insurance proceeds should have gone straight to Fortis as they haven title to the vehicle.

They now have a situation where the asset they have no longer exists in terms of meaningful security.

Once they are aware of the situation they will write to you asking for the full balance but will probably allow you to continue making the monthly payments.

It is likely they would not accept the car back under a vt due to its condition and cat c marker.

If you can, the best thing all round is to get a settlement figure and pay them off.

You will be aware that even if the car is repaired its true trade value will now be half what it was before the accident?