car finance voluntary termination

finally_solvent_2

Hi Everyone,
A couple of weeks ago i posted a question on voluntary termination.

My son was thinking about doing this and his car had no mot or service history.

Anyway i paid for an mot and service for him and he has now asked Toyota to come and collect the car. In the contract it says that as well as an mot and service history ,the car must be in reasonable condition.

Now my question is what exactly is reasonable for a 7 year old car ? The term reasonable is very subjective. What is the position if the company decides his car is in less than average condition. (parking dinks and scratches) .How does this work and what could my sons liabilities be.

USM

Does it have a service history now? Or just a recent service? There will be a difference - a service history indicating that all services have been completed on time as per the handbook.

paddyrg

I would imagine a 7 yr old car to look like it has worked, no major crash signs but maybe a couple of scuffs and dinks. And no more than 70,000 miles. But that's just me.

paulmcerlean

At 7 years, it should be free from crash damage of course, but the odd scratch or two wont be an issue. The Finance house will be putting a car of this age through the auctions to recoup the funds.

Regarding the service history - as above, a history is not just a recent service, but most if not all the intervals.

finally_solvent_2

thanks for the replies.

The car does not have a full service history and when he bought it, it only had one service in the book. the car is low mileage (60k). the car has various scratches.

Am i right in thinking that what the finance company gets for the car at auction is irrelevant as my son has fulfilled his contract and is perfectly entitled to give back the car.