Ending a HP vouluntarily

Tisbuck

Hi all, I have a HP for 48 months of which I only have 8 remaining. I do not need the car right now as I am working abroad so I was thinking of ending the agreement voluntarily. Trouble is I have done some excess mileage on the car totalling about £2500 and some body work which may cost another £400. Added the cost of picking up the car as I won't be available to return it myself (£250), I am looking at £3200 to return it straight away.
I intend to save on my monthly cost for the HP at £275 added insurance at £45 and car tax say £15 which comes to £335/month.
I don't know if the finance company will agree to payment by instalment after recovering the car or they will demand their payment instantly so asking for advice on this kind of thing from those who have been through it really.

CHR15

You have calculated it will cost you £3,200 to return it right now but if you carried on paying for the remainder of the term at £335 a month (x 8 months) it will cost you £2,680.

Assume there is a hefty final payment due?

It's unlikely they would agree to a repayment plan after the cars surrender, you could get a loan for the amount outstanding to clear it, then repay the loan.

k3lvc

Assuming I've read your post right then the excess mileage and bodywork costs won't go away - you'll either pay them now or in 8 months time.

If so then cut your losses and return now