Help please - can I hand car back?

Glasgowkiss84

Any further thoughts anyone?

Edited to add having checked my OH credit report, it is listed as HP. I suspect if I do a HPI check on the car it will also list outstanding finance.

Hintza

Unfortunately I don't really know so I am just making observations:-

In the agreement you have linked to there is no ballooon payment and no mention of it on page 1 yet they start waffling on about it if you sell the car back to them?

I think you need some good advice on this, but my gut feeling is a VT is not on the cards here? But you have mentioned you have a balloon payment.

I'm getting confused too....sorry

Glasgowkiss84

Hintza wrote: »

Unfortunately I don't really know so I am just making observations:-

In the agreement you have linked to there is no ballooon payment and no mention of it on page 1 yet they start waffling on about it if you sell the car back to them?

I think you need some good advice on this, but my gut feeling is a VT is not on the cards here? But you have mentioned you have a balloon payment.

I'm getting confused too....sorry

I'm sorry if I am not making sense. We do have a balloon payment. The agreement I have linked too is practically identical to mine (but is not mine). However our payments were over 43 months, and then with the option to pay the balloon payment or hand car back.

Have I made sense yet

GK

Anihilator

Can you confirm how many monthly payments and how much these are? Also what the balloon payment is?

To qualify for VT you have had to have paid over 50% of the total amount due. Because of the balloon payment I would be surprised if you had.

Glasgowkiss84

Anihilator wrote: »

Can you confirm how many monthly payments and how much these are? Also what the balloon payment is?

To qualify for VT you have had to have paid over 50% of the total amount due. Because of the balloon payment I would be surprised if you had.

I have done the figures, including balloon payment and we have. I know, I didn't think we would have. If you would like to check, figures are:

Cash Price: £15,194.50
Deposit: £1,000
Amount of Credit: £14,194.50

1 x £401.62
41 x £302.62
1 x £5078.00

Total payable: £18,986.04

Our payments total £9664, and that doesn't include the deposit.

Now you can all see how bad this agreement was!