Handing car back ( half and thirds rule) HELP

spikeyross

Can anyone give me a hand,

i'm looking to hand my car back but I don't know what to write in the letter to the finance company to see how much I have to pay to give them the car back, I'm looking at roughly £800 or wait 3 months

so basically does anyone have a sample letter that they sent to the finance company that you could send me?

Thanks Ross

slyracoon

spikeyross wrote: »

Can anyone give me a hand,

i'm looking to hand my car back but I don't know what to write in the letter to the finance company to see how much I have to pay to give them the car back, I'm looking at roughly £800 or wait 3 months

so basically does anyone have a sample letter that they sent to the finance company that you could send me?

Thanks Ross

Dear Sir,

I want to return my car early. How much will I have to pay for early termination of the finance agreement.

Lots of love,
Ross

markstevo

Hi Use this letter....they should then write to you advising how much you need to pay to get the car up to the 50% mark

TO BE USED WHEN YOU WANT TO TERMINATE A HIRE PURCHASE AGREEMENT
WITH YOUR CREDITOR
(Your home address)
__________________________
__________________________
__________________________
__________________________
Date:______________________
To: ___________________________
___________________________
___________________________
___________________________

Dear Sir/Madam

VOLUNTARY TERMINATION OF AGREEMENT

Account No: (CAR MAKE/MODEL/REGISTRATION NO.)

I am/we are writing to notify you that I am/we are exercising my/our right to terminate the above Agreement under Section 99 of the Consumer Credit Act 1974. You will understand that the aforementioned section permits the debtor to terminate the agreement at any time before the last payment is due. There is no restriction regarding the exercising this statutory right, particularly none in respect of any perceived arrears or monies due on termination

I/we understand that I shall/we will be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974. Please forward notice of any sums lawfully due for consideration and payment.
The above agreement will be terminated 14 days from the date of this notice.**

Please send me/us details of how the vehicle can be returned to you.
You will be aware that statute prevents you from levying a charge for the recovery of this vehicle; guidelines also state that if you require me to deliver this vehicle it must be no more than a short (reasonable distance) from my registered address.
Please confirm receipt of this request by telephone/fax to me/us on (your telephone number or fax number).

Yours faithfully
(Your Signature)