Van finance

Billi32

Hello just a quick question to see where I stand. I have finance on a van but can't make a payment after being made redundant. I have payed more than half of the van of and just wondered if anyone knows what legal rights I have to keep the van??

DevCoder

The van remains the property of the finance company until full payments is made.

~Beanie~

If you don't pay, they can repossess your van but as you have paid over a third, they will need to get a court order to do so.

shaun_from_Africa

It might be best if you contact the finance company before the 1st payment is missed and see if they are willing to come to some sort of arrangement.
You may be able to defer the payments or pay a reduced amount until you get another job.

By showing that you are willing to do this, they may well agree to see what they can do.

bris

Your best bet would be to VT it so you dont get a trashed credit file. But no you can't keep it, so better to limit the damage it will do.