Santandar Voulntry Temination 2017

Chillik

Hi.

Bit of advice pls.

I know there are post dating back a year, but would like a current view.

Own a corsa, 3.5 years old. Paid up to date, although some late (4/5) never two in a row.
Car is on HP, no mileage stipulations. Currently owe around £3800 so paid well over the 50%.
Car has been serviced regularly and has done 123k miles.

Can I do a VT...?
if so, what problems may I get

TIA

tykesi

I think the best people to ask would be Santander rather than strangers on the internet. Have a read through your documents about what qualifies for VT and if it's not clear, give them a call.

tonyh66

a 3.5 yr old corsa with 123K on the clock wow thats a lot of miles in a crape car.

neilmcl

tykesi wrote: »

I think the best people to ask would be Santander rather than strangers on the internet. Have a read through your documents about what qualifies for VT and if it's not clear, give them a call.

Although some "strangers on the internet" might have the correct information to help the OP, particularly as finance cos in general don't like customers terminating agreements and may not be so forthcoming.

There are 2 important questions you need to ask yourself when VT'ing a vehicle. Firstly have you paid of 50% of the total finance as outlines in your original agreement, not just repayments but the total finance amount. Then as you mentioned late payments, have you had actually incurred any defaults? This is important as you may not be able to VT if this is the case.

neilmcl

tonyh66 wrote: »

a 3.5 yr old corsa with 123K on the clock wow thats a lot of miles in a crape car.

And wow, that's really helpful!

motorguy

tykesi wrote: »

I think the best people to ask would be Santander rather than strangers on the internet. Have a read through your documents about what qualifies for VT and if it's not clear, give them a call.

Totally wrong.

The last people I would ask about a vt are the finance company involved. It is totally not in their interests to offer objective advice.

motorguy

Chillik wrote: »

Hi.

Bit of advice pls.

I know there are post dating back a year, but would like a current view.

Own a corsa, 3.5 years old. Paid up to date, although some late (4/5) never two in a row.
Car is on HP, no mileage stipulations. Currently owe around £3800 so paid well over the 50%.
Car has been serviced regularly and has done 123k miles.

Can I do a VT...?
if so, what problems may I get

TIA

No. You're stuffed.

Firstly, you missed payment dates so this pretty much nullifies your right to a BT

Secondly, you've put starship miles on it, so they would be within their rights IF you could do a VT to bill you an obscene amount for mileage (and probably condition) that falls outside taking good care of the car.

Herzlos

No mileage stipulations may mean he gets away with that. Not sure if they'll make much of the condition though.

How long does the HP have left to run? what was the total amount (deposit + purchase price + interest)?

motorguy

Herzlos wrote: »

No mileage stipulations may mean he gets away with that. Not sure if they'll make much of the condition though.

How long does the HP have left to run? what was the total amount (deposit + purchase price + interest)?

They "might'" but I'd doubt it. Plus high mules usually suggests dents, scratches, stone chips, scuffed wheels, maybe servicing not to schedule, etc which they will be all over like a rash.

I think the late payments will be the killer though, and I think with the high miles they won't take an attempt at a VT lying down.

I'd either continue payments until it's paid off and dispose of it, or seek to dispose of it and accept there will be a shortfall in value versus amount owed.

BeenThroughItAll

motorguy wrote: »

They "might'" but I'd doubt it. Plus high mules usually suggests dents, scratches, stone chips, scuffed wheels, maybe servicing not to schedule, etc which they will be all over like a rash.

I think the late payments will be the killer though, and I think with the high miles they won't take an attempt at a VT lying down.

I'd either continue payments until it's paid off and dispose of it, or seek to dispose of it and accept there will be a shortfall in value versus amount owed.

Unless, of course, the car wasn't bought new, and already had 100K on it when it was financed at a huge rate... OP doesn't say the car was bought new, or give any really pertinent details of the agreement.

motorguy

True

O/P can you confirm miles at time if purchase?