Voluntary termination agreement

spendav3

aaaaaaaaaaaaaaaaaaa aaaaaaaaaaaaa

frothey

providing it was a REGULATED AGREEMENT it's not time related, it's when you have paid one half of the total payable off - ie if the car was £10k, plus £2k of interest and fee's, then once you have paid £6k off you can hand the car back. the total payable will be shown on the contract.

If you had paid a £6k deposit (whether px or not) you could in theory hand the car straight back to them.

If it wasn't regulated, you're stuffed! unfortunately. You could just hand the car back - after all if you are emigrating outside of the EU, it's going to be hard for them to catch up with you.

Will the car not worth more than the outstanding finance?

frothey

Threaten them with what? It's not their fault you are emigrating is it? It's also got nothing to do with the dealer - with HP effectively you have bought the car from the finance company, not the dealer, and it is still the finance companies car. Phone them and see what they suggest.

Was it a regulated agreement signed on the company premises? did you receive a pre-contract agreement?

Hintza

Have you asked them to price up an early termination?

frothey

easiest way is to (closer to the time) ask the dealership to buy the car back from you, and get a personal loan to cover any negative equity.