Santandar Voulntry Temination 2017

Chillik

It's a Work car. Hence miles

Chillik

Hi. Paid well over half. Car was £14k I owe £3800.

No defaults just 4 late payments in 3.5 years

Chillik

TBH honest the car is immaculate in and out. Just scrapes on the front wheels. Although high miles, well looked after. Routine services asper Vauxhall and on top of that front brakes every 10k plus oil change same.

Chillik

TBH honest the car is immaculate in and out. Just scrapes on the front wheels. Although high miles, well looked after. Routine services asper Vauxhall and on top of that front brakes every 10k plus oil change same.

Paid £14k over 5 yrs interest free. Got 18 mts left. No defaults just 4 late payments

Chillik

Did buy new from vauxhall

Chillik

Zero Paul. Was new when I bought it.

neilmcl

Chillik wrote: »

TBH honest the car is immaculate in and out. Just scrapes on the front wheels. Although high miles, well looked after. Routine services asper Vauxhall and on top of that front brakes every 10k plus oil change same.

Paid £14k over 5 yrs interest free. Got 18 mts left. No defaults just 4 late payments

In which case it sounds like you should be able to VT but probably need to sort the wheels out or it will cost you.

Worth having a look at the following, and to get a copy of a template VT letter - http://www.legalbeagles.info/forums/showthread.php?77612-How-to-Voluntary-Terminate-a-HP-Agreement-*UPDATED*

motorguy

neilmcl wrote: »

In which case it sounds like you should be able to VT but probably need to sort the wheels out or it will cost you.

Worth having a look at the following, and to get a copy of a template VT letter - http://www.legalbeagles.info/forums/showthread.php?77612-How-to-Voluntary-Terminate-a-HP-Agreement-*UPDATED*

I disagree.

The late payments could nullify the right to VT, and i think the miles on it could be factored in to fair wear and tear.

I think they'll accept it back ok, but the O/P is probably going to be looking at a world of pain afterwards.

Personally, i'd either :-

• Drive on at it until its paid off
• Sell it and clear the finance, paying any shortfall
• Clear the finance

At least with those options you're in control of your own destiny, rather than having a finance company pursue you for months / years and quite possibly through the courts.

neilmcl

motorguy wrote: »

I disagree.

The late payments could nullify the right to VT, and i think the miles on it could be factored in to fair wear and tear.

I think they'll accept it back ok, but the O/P is probably going to be looking at a world of pain afterwards.

Personally, i'd either :-

• Drive on at it until its paid off
• Sell it and clear the finance, paying any shortfall
• Clear the finance

At least with those options you're in control of your own destiny, rather than having a finance company pursue you for months / years and quite possibly through the courts.

AFAIK, unless he's had a default he's still entitled to invoke his statutory right to VT.

motorguy

neilmcl wrote: »

AFAIK, unless he's had a default he's still entitled to invoke his statutory right to VT.

Sounds good if thats the case. I would get that legally confirmed first if i was the O/P, and also do a full credit check and examine the payment history.

Finance companies rarely take VTs lying down these days if they can find any way to recover money they will lose by it happening.

There are two variables here as discussed - the excessive milage and the late payments. Either or both would make me very jumpy about having a "clean", simple VT.

Unless theres a real reason here to VT - such as genuinely cant afford the monthly payments any more, as opposed to "really dont fancy paying for it any more" or "I'd quite like a new car" then i'd personally not do it.