GMAC Finance

bob_tony

Hi

I'm after some advise. I have a Vauxhall car on the gmac finance and I have heard about ending agreements early when you have paid half way through. Could anyone advise if this is applicable to this sort of agreement as I will be getting a company car shortly and only a few months off being half way through the agreement so would be great to be able to give the car back. By the way the car is in mint condition

verityboo

You have the right to voluntarily terminal a hire purchase (or pcp) when half the total amount is paid. It should outline this right in the hp agreement and confirm the total that needs to be paid.

If it is a pcp with a balloon payment at the end then the balloon payment has to be included in the calculation and means that it's often at least 30 months before the 50% figure is reached

bob_tony

I've looked at the few papers that were given to me but it says nothing about this and how much is owed a set times through hence my question. I'm concerned that this maybe something else

[Deleted User]

Does the finance agreement have a name? GMAC appear to do a range of options - not all will allow you to VT.