Voluntary Terminate a HP agreement

hangem_2

Hello just wondering if anyone can help I have a Hp agrrement for £12900 and am paying £199 a month for 5 years. I started paying this in march 2006. On the agreemenet it states i can hand the car back after i have paid back £6450 aslong as it in a good state apart from wear and tear.

So if my calucutaltions are right

car price £7900
Deposit £200
Tradein £700

So finance £7000
Plus interest £5900 ( long story)

total to pay £12900

so 43 payment upto this month @ £199

17 more to go!!

Equals £8557

does anyone see a problem with me handing it back under the Voluntary Termination of the agreement.

The car is 8 years old now and has a couple of problem ie Sunroof doesnt work and one back window is not working (electrics). Will i be made to pay for these is i send the car back or will the money i have paid over the 50% make pay for these to be done.

Thank in advace so if it in the wrong thread.

pompeii

can't work out your figures, however in principle if you've done your sums it makes sense to do this, I did this myself a few years back when the trade in value was less than what was outstanding on the finance. You can write to the finance company and they will send you the necessary paper work. If it works out they send a guy and transporter to take the car and you sign it over.

I am not sure if you need to fix the sunroof and back window first. The only thing i remember them checking on mine was the bodywork, Hope you get this sorted soon.