We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
car finance, handing it back...
bream
Posts: 1 Newbie
i have a car on finance, ive been paying it off for quite some time now, but my settlement is more than the cars worth, ive looked at my aggrement and it says that providing the cars been taken care of and theres no outstanding payments, i can simply hand it back and thats the end of it...
so ive emailed the company to ask how i go about doing it, to which ive been told if i hand it back it will go to auction and im liable for the remainder, and that theres no agreement in place because of a defaulted payment in jan 2010, if the aggrement was still inplace i would of been able to hand it back?????
ive emailed back stating if theres no agreement in place, im going to sell the vehicle and pay them back a tiny amount each month because if theres no agreement, i can do what i want right??
where do i stand with this, it seems insaine? all payments are up to date, ive paid over half the finance off, and ive took care of the car, i dont see why i cant hand it back :mad::mad:
so ive emailed the company to ask how i go about doing it, to which ive been told if i hand it back it will go to auction and im liable for the remainder, and that theres no agreement in place because of a defaulted payment in jan 2010, if the aggrement was still inplace i would of been able to hand it back?????
ive emailed back stating if theres no agreement in place, im going to sell the vehicle and pay them back a tiny amount each month because if theres no agreement, i can do what i want right??
where do i stand with this, it seems insaine? all payments are up to date, ive paid over half the finance off, and ive took care of the car, i dont see why i cant hand it back :mad::mad:
0
Comments
-
The defaulted payment in January 2010 has voided the agreement and therefore the company is not obliged to let you hand it back with nothing more to pay. If you look at your copy of the agreement carefully you will probably find a clause to this effect. If so, and if you do hand the car back they are within their rights to auction it off and chase you for any shortfall.I used to think that good grammar is important, but now I know that good wine is importanter.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards