car agreement

wondermutt

Hi i have had a car finance agreement which i am looking into vt10 cancelling it,i have been payinig for over two years and have payed for the car ,but am now paying the interest on it which is stuipd,on my agreement it says: the agreement is non cancellable under the consumer credit act 1974,the timeshare act 1992 or the financial services (distances markerting) 2004 ,just wondering if anyone else has had this and wondered how to go about it and if i could ? thanks

wealdroam

wondermutt wrote: »

Hi i have had a car finance agreement which i am looking into vt10 cancelling it,i have been payinig for over two years and have payed for the car ,but am now paying the interest on it which is stuipd,on my agreement it says: the agreement is non cancellable under the consumer credit act 1974,the timeshare act 1992 or the financial services (distances markerting) 2004 ,just wondering if anyone else has had this and wondered how to go about it and if i could ? thanks

With a voluntary termination don't you have to hand the car back too?

Is that what you want, or do you want to stop paying, keep the car and avoid the interest?
Not much hope of the latter methinks.

wondermutt

HI Yes we want to get rid of the car and dont wont to pay the interest as its a silly amount,we have payed the amount bk for the car,just be a good option if we could do it?

BarryBurns

i am considering cancelling my car finance as its costing too much, I have paid over half of the payments and ive rung the company and they said i can cancel it by 'mutual agreement'... by doing this i obviously give the car back, the company say that if i do this the balance will be cleared and this will NOT affect my credit rating. Is this correct?