Voluntary Termination

macman

Is this a PCP or an HP finance deal? If it's a PCP, you need to include the final balloon payment, so at 3 years of 5 you won't yet be anywhere near 50%.

bazzyb

Will2019 wrote: »

Sorry was at work when I did all the math, since looking at my agreement £11,278 for the car and interest of £7500 = £18778 total over 59 months... and I’ve paid 33 months at £300.58 and the first month of £310.58!

If what you have posted is accurate then you are passed the 50% figure for VT.

You mentioned earlier another car at £180 per month - have you already been approved on that finance? Who is the new lender.

Have you checked what your car is worth to see if it's worth trading in rather than going down the VT route? You can get an idea of trade price by putting the car details in on the Evans Halshaw website, for example. Then compare this to your settlement figure (assuming you have already asked for one).

Ectophile

Here's a random suggestion.


If you can now get a much cheaper loan, and if you like the car you have, then look into the possibility of getting a new loan and using it to pay off the outstanding finance. Then keep the car you have.

Mercdriver

Do an eligibility check here or on noddle or similar. This does a soft check that doesn't affect your credit, and then you can see if Ectophile's suggestion is likely to have legs.