Car Finance Voluntary Termination Query

natters_2

Does anyone know if you can stop paying after you have sent the VT letter? I have paid nearly 3/4 of the loan and now want to hand the car back and stop any further payments.

I intend to send the letter via special delivery today or Monday, the next DD is due on the 24th, so can I safely cancel or do I have to continue making payments until the car is returned.

Thanks in advance.

standupguy

natters wrote: »

Does anyone know if you can stop paying after you have sent the VT letter? I have paid nearly 3/4 of the loan and now want to hand the car back and stop any further payments.

I intend to send the letter via special delivery today or Monday, the next DD is due on the 24th, so can I safely cancel or do I have to continue making payments until the car is returned.

Thanks in advance.

The date that applies to the vt is the date they receive your letter.

Your next payment will not be payable providing they receive your letter by the 23rd.

Best send it, keep a copy, and ring them a day or two later so that they can confirm receipt.

natters_2

thanks for the info