HP Lease

Solar1982

I wouldn’t have a clue what it’s worth in trade value. I just want to make sure before handing the letter in advising I wish to end my contract early that I have paid half and they won’t come back saying you us this amount. I definately gave a £500 deposit and the rest of the deposit must have been contributed by Volkswagen (I assume this is what is called Advance Payment)..but I cannot get my head around this...do I deduct the Advancement Fee of £1705 from the figure of £8,432.26? I’m finding it really confusing.

Mercdriver

Solar1982 wrote: »

I wouldn’t have a clue what it’s worth in trade value. I just want to make sure before handing the letter in advising I wish to end my contract early that I have paid half and they won’t come back saying you us this amount. I definately gave a £500 deposit and the rest of the deposit must have been contributed by Volkswagen (I assume this is what is called Advance Payment)..but I cannot get my head around this...do I deduct the Advancement Fee of £1705 from the figure of £8,432.26? I’m finding it really confusing.

The terms of the agreement which you have signed (it isn't a contract as such in the same sense as a lease would be) specify the amount. Your best bet would be to contact VWFS and ask them if their figure is correct bearing in mind the total amount of the deposit is higher than suggested on their paperwork. It might save more issues before you put in a notice to end the agreement at 50%.

Also how is your mileage pro rata against the agreed? This used to be something that was disregarded by Financial houses, but is something that is coming up more frequently here.