Voluntary termination of car hp

FDA666

Hi .... I am considering doing a VT. Car was trashed late last year by vandals :mad: and it cost my insurers £6K to fix so I would say on the fair wear and tear aspect the car is in better condition than when I bought it as it has more or less had a complete respray (the roof was the only area not damaged!) I've paid more than half the outstanding finance, car was MOT'd in March this year ... how long do the Finance Companies generally take to arrange for the car to be taken back? Any advice would be much appreciated!

Xbigman

When you VT a car after paying at least half your lender doesn't have a figure for repayment that you can exceed. You just hand it back and what you've paid is it.

As for any work needed on the car, you will be charged for everything they can find that needs doing, and sometimes things that don't need doing. If the car needs work then you should get it done. Hand the car back as near to perfect as possible.

If you are going to VT check your terms and conditions for the exact procedure.
Regards


X

FDA666

Thanks Xbigman ... looks like a trip to the garage it is then ...boo hoo.