Voluntary Termination of HP

tom-coupe

does anyone know if the half way point on the VT includes the initial deposit on the finance. im at the correct stage that it says in my terms of contract if i include the £750 deposit i put down

standupguy

tom-coupe wrote: »

does anyone know if the half way point on the VT includes the initial deposit on the finance. im at the correct stage that it says in my terms of contract if i include the £750 deposit i put down

yes it does include your initial deposit

Phils_debt

Can i ask without starting a new thread ;when i purchased my car it had an aftermarket alarm fitted cause of a problem with the original manufacturers ...if i vt mine in 5 months will this cause anything does it have to have everything right and working ie not an aftermarket alarm and i only got 1 key

Thomasmaughan

I have been reading the terms and conditions of my car finance contract and need some advice. I am just at the half way point and am thinking of voluntarily terminating my contract but in my terms and conditions it says, "You have No right to terminate your contract voluntarily under the consumer credit agreement 1974".

Is this a scare tactic or is this true? Also the copy I have of my contract isn't actually signed be me if this helps?

Please help if you can!

Thanks in advance

Apples2

Thomasmaughan wrote: »

I have been reading the terms and conditions of my car finance contract

Does it say Hire Purchase agreement or Personal Loan agreement at the top?

Thomasmaughan

It says fixed sum personal loan agreement?

Apples2

Thomasmaughan wrote: »

It says fixed sum personal loan agreement?

Then you can't VT the car. You can only VT if it is on HP.

The good news is the loan is not secured on the car so you are free to sell it if you wish.

aceman45uk

can i keep the car i had on hp , i have paid over half of what i agreed and have sent a letter of voluntary termination. i would like to keep the car as it has served me well ,many thanks

Apples2

Dream on ace

bigadaj

aceman45uk wrote: »

can i keep the car i had on hp , i have paid over half of what i agreed and have sent a letter of voluntary termination. i would like to keep the car as it has served me well ,many thanks

Brilliant idea, can you let us know if it works, love to try it on a mortgage as well!