Car Allowance & Redunancy

nivagni

Hope someone can help.

My partner is being made redundant and we have a question.

When he started the job the company were going to provide him with a company car (needed as his job involved traveling). They then said they could not provide a company car but would provide him with a car allowance - and told him to go and buy a car and they would pay X amout per month to cover the costs of the car.

Obviously it had to be a new car as he would also have to give colleagues and clients lifts etc so had to be up to the companies standards etc....

We had to get the car on finance - 4 year term... he is being made redundant after 2 years into paying the car off.... so we are left with 2 years to pay on the car still...

Whats the legal standing with this ? does the company have to pay the remainder of the car - and take ownership of it which is about £6000

Or the finance companies terms say we can simply hand the car back to them once at least half the payments have been made... which will be in 5 months... so is about £1000 still to pay the finance company before we can simply hand it back.

I hope that makes sense :rolleyes:

Any advice appreciated..