Voluntary Termination on VW finance advice

Micky2biccies

Hello All
Would appreciate some advice on my current situation please.
I have had a change cirumstances and want to had back my VW polo. I have not made over 50% payment and there is a shortfall to this amount of around £2300.
I am planning on filling in the form and getting this done in the next few weeks. A very quick check online puts the cars valuation on confused.com for private sale: £6830 and forcourt value £7680.
There are a couple of very minor scrapes on the car, but I do feel these are very minor
I wanted to just double check if it is my only to pay the full amount outstanding or if there were any other options at all before I deposit this sum.
How scrupulous are the checks by the British Car Auctions and will they look to pull up on any very minor indiscretion to make a few extra quid?
I am not looking to part exchange and do not need a replacement. 
Many thanks for your help. 

AdrianC

Micky2biccies said:

How scrupulous are the checks by the British Car Auctions and will they look to pull up on any very minor indiscretion to make a few extra quid?

"Fair wear and tear" is fully documented within the industry-standard guidebook that you should have been provided with. https://www.pikeandbambridge.co.uk/uploads/tinymce/Fair Wear Tear Guide.pdf

DrEskimo

Micky2biccies said:

Hello All
Would appreciate some advice on my current situation please.
I have had a change cirumstances and want to had back my VW polo. I have not made over 50% payment and there is a shortfall to this amount of around £2300.
I am planning on filling in the form and getting this done in the next few weeks. A very quick check online puts the cars valuation on confused.com for private sale: £6830 and forcourt value £7680.
There are a couple of very minor scrapes on the car, but I do feel these are very minor
I wanted to just double check if it is my only to pay the full amount outstanding or if there were any other options at all before I deposit this sum.
How scrupulous are the checks by the British Car Auctions and will they look to pull up on any very minor indiscretion to make a few extra quid?
I am not looking to part exchange and do not need a replacement. 
Many thanks for your help. 

What's your current settlement figure on the finance?

Have you checked the trade in value on WBAC? Its likely to be horrendous right now, but worth a quick quote.

Micky2biccies

DrEskimo said:

Micky2biccies said:

Hello All
Would appreciate some advice on my current situation please.
I have had a change cirumstances and want to had back my VW polo. I have not made over 50% payment and there is a shortfall to this amount of around £2300.
I am planning on filling in the form and getting this done in the next few weeks. A very quick check online puts the cars valuation on confused.com for private sale: £6830 and forcourt value £7680.
There are a couple of very minor scrapes on the car, but I do feel these are very minor
I wanted to just double check if it is my only to pay the full amount outstanding or if there were any other options at all before I deposit this sum.
How scrupulous are the checks by the British Car Auctions and will they look to pull up on any very minor indiscretion to make a few extra quid?
I am not looking to part exchange and do not need a replacement. 
Many thanks for your help. 

What's your current settlement figure on the finance?

Have you checked the trade in value on WBAC? Its likely to be horrendous right now, but worth a quick quote.

The settlement figure is just under £2300.
Just tried WBAC and they arent accepting any new valuations. Can I ask why you would check here? Is selling the car privately an alternative option?

DrEskimo

Micky2biccies said:

DrEskimo said:

Micky2biccies said:

Hello All
Would appreciate some advice on my current situation please.
I have had a change cirumstances and want to had back my VW polo. I have not made over 50% payment and there is a shortfall to this amount of around £2300.
I am planning on filling in the form and getting this done in the next few weeks. A very quick check online puts the cars valuation on confused.com for private sale: £6830 and forcourt value £7680.
There are a couple of very minor scrapes on the car, but I do feel these are very minor
I wanted to just double check if it is my only to pay the full amount outstanding or if there were any other options at all before I deposit this sum.
How scrupulous are the checks by the British Car Auctions and will they look to pull up on any very minor indiscretion to make a few extra quid?
I am not looking to part exchange and do not need a replacement. 
Many thanks for your help. 

What's your current settlement figure on the finance?

Have you checked the trade in value on WBAC? Its likely to be horrendous right now, but worth a quick quote.

The settlement figure is just under £2300.
Just tried WBAC and they arent accepting any new valuations. Can I ask why you would check here? Is selling the car privately an alternative option?

You only owe another £2,300?

Maybe I misread you post, but I thought you had to pay another £2,300 to reach the VT point?

Yea you can sell privately, but would need to settle the finance in full. Some may be happy to hand over the cash and wait for you to do that, but many wouldn't not want the hassle. Easier to settle in full before you list it. Alternatively, selling to WBAC or a dealer as a straight sale would involve them settling the finance for you as part of the sale.

Penelopa.Pitstop

Here's the list of VWFS charges for damage, the same for all brands. https://customer.vwfs.co.uk/content/dam/bluelabel/valid/www-vwfs-co-uk/documents/self-serve-documents/audi-self-serve-docs/Audi Damage Charges.pdf

Micky2biccies

DrEskimo said:

Micky2biccies said:

DrEskimo said:

Micky2biccies said:

Hello All
Would appreciate some advice on my current situation please.
I have had a change cirumstances and want to had back my VW polo. I have not made over 50% payment and there is a shortfall to this amount of around £2300.
I am planning on filling in the form and getting this done in the next few weeks. A very quick check online puts the cars valuation on confused.com for private sale: £6830 and forcourt value £7680.
There are a couple of very minor scrapes on the car, but I do feel these are very minor
I wanted to just double check if it is my only to pay the full amount outstanding or if there were any other options at all before I deposit this sum.
How scrupulous are the checks by the British Car Auctions and will they look to pull up on any very minor indiscretion to make a few extra quid?
I am not looking to part exchange and do not need a replacement. 
Many thanks for your help. 

What's your current settlement figure on the finance?

Have you checked the trade in value on WBAC? Its likely to be horrendous right now, but worth a quick quote.

The settlement figure is just under £2300.
Just tried WBAC and they arent accepting any new valuations. Can I ask why you would check here? Is selling the car privately an alternative option?

You only owe another £2,300?

Maybe I misread you post, but I thought you had to pay another £2,300 to reach the VT point?

Yea you can sell privately, but would need to settle the finance in full. Some may be happy to hand over the cash and wait for you to do that, but many wouldn't not want the hassle. Easier to settle in full before you list it. Alternatively, selling to WBAC or a dealer as a straight sale would involve them settling the finance for you as part of the sale.

Sorry I misunderstood. The VT point is £2300. 
The full settlement at the moment is £7653
So from those numbers if WBAC up and running and able to pay more than (£7653-2300= £5353) that would be a better option financially?

Are other private dealers buying at the moment? Can't imagine they are?