URGENT please help, husband left me & I want to cancel car contract

Meepster

All finance agreements (no matter where it was signed, their office, at home, etc) are now subject to a 14 day cooling off period. This was brought in earlier this year with the changes to the Consumer Lending Regulations.

Valli

Didn't want to read and run, you've had some excellent advice and I hope it's worked out ok

BUT

there are other things you can do to limit outgoings

- phone council tax ASAP and claim single adult occupancy discount (25% reduction) from the date he left.

Also - put a new claim into tax credits, if you are working 16+ hours a week

also
- if you do consult a solicitor they should offer a free half hour initial interview to discuss your options etc. You can have as many of these with as many different solicitors as you like as it's a good opportunity for you to meet a solicitor and choose one. But wait until you're feling strong - too expensive to cry (or get angry) there.
- if you do engage a solicitor make sure you know what ALL their charges are - they even charge for answering the phone and reading letters and even more for writing them. If you have property and are likely to achieve a settlement you most likely WILL have to pay, eventually.

Wishing you peace and strength.

newincognito

Thank you all so much, I am feeling so much better. Well FOW definitely are living up to their reputation, they are fantastic. I still need a car to get to work and school run so he pointed out that i can voluntary terminate the contract after 2 years and many finance agreements do not highligh this as it doesn't do them any favours.
If i do this I would be able to afford a decent car and reasonabe payments over a shorter period. I do not want to be tied into for 5 years, 2 is just fine.

Has anyone done this and does it affect your credit score?
The manager at FOW said this is how he buys his cars because otherwise he and his wife wouldn't be able to afford the nice car they have.

atrixblue.-MFR-.

newincognito wrote: »

Thank you all so much, I am feeling so much better. Well FOW definitely are living up to their reputation, they are fantastic. I still need a car to get to work and school run so he pointed out that i can voluntary terminate the contract after 2 years and many finance agreements do not highligh this as it doesn't do them any favours.
If i do this I would be able to afford a decent car and reasonabe payments over a shorter period. I do not want to be tied into for 5 years, 2 is just fine.

Has anyone done this and does it affect your credit score?
The manager at FOW said this is how he buys his cars because otherwise he and his wife wouldn't be able to afford the nice car they have.

get that in writing, and still if your not overly confident you could afford a finance deal yourself with your incomings you should decline it.

it doesnt often work out cheaper as when you voluntary terminate theres usually a fee of the outsanding balance on the finance.

Nearly_Old

newincognito wrote: »

I still need a car to get to work and school run so he pointed out that i can voluntary terminate the contract after 2 years and many finance agreements do not highligh this as it doesn't do them any favours.
If i do this I would be able to afford a decent car and reasonabe payments over a shorter period. I do not want to be tied into for 5 years, 2 is just fine.

Has anyone done this and does it affect your credit score?
The manager at FOW said this is how he buys his cars because otherwise he and his wife wouldn't be able to afford the nice car they have.

Very sorry to hear about your troubles.

Personally as previously posted I would get this in writing as it would be very unusual if there is not a fee for early termination. It might work for manager simply because every two years he changes to another car. In that case he is effectively transferring the finance to another car. In your case there is a risk that you would end up having to pay a fee and handing the car back after 2 years, or enter into another agreement.

Not wishing to sound too cynical but is there any possibility that he had a sale (towards his monthly target) that you currently want to cancel and he doesn't want to lose it?

Good luck in getting things sorted out.

poppasmurf_bewdley

Nearly_Old wrote: »

Very sorry to hear about your troubles.

Personally as previously posted I would get this in writing as it would be very unusual if there is not a fee for early termination. It might work for manager simply because every two years he changes to another car. In that case he is effectively transferring the finance to another car. In your case there is a risk that you would end up having to pay a fee and handing the car back after 2 years, or enter into another agreement.

Not wishing to sound too cynical but is there any possibility that he had a sale (towards his monthly target) that you currently want to cancel and he doesn't want to lose it?

Good luck in getting things sorted out.

That was my immediate thought.

My own train of thought leads to not going through with this deal, and finding one that suits you and your current situation - I don't think this one does. It suits the garage.

newincognito

ohhhhh and i thought for once things were going to go in my favour. I really thought that this was a good deal I suppose it was too good to be true.

I am due to talk with them tomorrow to finalise everything, should I just tell them I am not interested or ask a few more questions:

will there be a fee
can i had the car back with no further fees
can i have it in writing

Sorry guys but my head is in the clouds right now

newincognito

Hi again

i was speaking to my parents early and they did offer me £40 a month towards a car which would help a lot. I am considering this. I have looked at leasing on a 3 year deal, brand new mercedes A class for £169 a month with britannia leasing so the same price as the car I was going to get has anyone heard of them?

Knitting_Nora

Hi

Appreciate that your head is swimming with everything going on right now, and that you need a car for the school run and work - but do you need it right this second? If you're stranded without any car, could friends or family give you a hand?

There's been some great advice given already on the contract itself, so I just thought I'd ask whether you needed to rush into this agreement right now? If you can cope with kissing the deposit goodbye, then why not give yourself some breathing space from major decisions and commitments like this - at least for a couple of weeks or whatever, while you sort out which way is up for you and the kids.

Even if you say goodbye to the car you've picked out, there will always be cars to buy.

Take care.

Nora.x

newincognito

Knitting_Nora wrote: »

Hi

Appreciate that your head is swimming with everything going on right now, and that you need a car for the school run and work - but do you need it right this second? If you're stranded without any car, could friends or family give you a hand?

There's been some great advice given already on the contract itself, so I just thought I'd ask whether you needed to rush into this agreement right now? If you can cope with kissing the deposit goodbye, then why not give yourself some breathing space from major decisions and commitments like this - at least for a couple of weeks or whatever, while you sort out which way is up for you and the kids.

Even if you say goodbye to the car you've picked out, there will always be cars to buy.

Take care.

Nora.x

Hi

That is part of the problem i need a car by monday which is why i was going to pick it up tomorrow so i can drive to work. My dad has already leant me his car or the last 8 weeks so I desperately need a car.

Even if i go ahead withe FOW deal i will still have to wait another week before i pick it up now, which is why i started looking at leases as some of the cars are in stock and I would be able to receive a car in 10 days.

I do not want to rush into anything but i have asked around for a car but no one is able to help right now