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Van Lease Purchase
Hello all, new user here with a question about vehicle finance.
My limited company bought two vans in November 2007 with finance provided by Lombard. We had originally requested a HP agreement and until today I had believed this is what we were on, however having just checked over the paperwork it turns out it is a 'lease purchase' agreement and NOT HP.
Business not been going well for some time now so ideally we were looking to downsize and return these vehicles if we can (have paid over 50% of the finance).
My question is: is there any way to VT an agreement like this or end it early without too many repercussions?
Alternatively could I sell the vehicles and pay any shortfall to the finance company?
Many thanks in advance if anyone has any ideas
My limited company bought two vans in November 2007 with finance provided by Lombard. We had originally requested a HP agreement and until today I had believed this is what we were on, however having just checked over the paperwork it turns out it is a 'lease purchase' agreement and NOT HP.
Business not been going well for some time now so ideally we were looking to downsize and return these vehicles if we can (have paid over 50% of the finance).
My question is: is there any way to VT an agreement like this or end it early without too many repercussions?
Alternatively could I sell the vehicles and pay any shortfall to the finance company?
Many thanks in advance if anyone has any ideas
0
Comments
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You could sell them and pay back,get a settlement figure,do not trust lombard ever check there figures against your s what you have paid,be careful the goverment are paying them to be as nasty as possible to people the hmg will bail them out to billions yet losing sight of there customers well they wont have many soon after all they are state owned,GET THIS IN WRITING AND MAKE SURE THEY SIGN IT ^^^^DO NOT TRUST THEM^^^^ THEY WONT HELP YOU AT ALL JUST THEM SELVES
HOPE YOU GET SORTED0
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