Car Finance

WillCheshire20

Caz3121 said:

WillCheshire20 said:

Start date of agreement 22/03/2018
Opening balance -£17318.98
48 x £249.34

the monthly payments total under £12k...
how much was the car, how much deposit and how much balloon payment at the end

From looking at the paperwork it says 

haras_n0sirrah

I would edit out her car reg for security reasons 

Nearlyold

The VT point is when half the "Total Amount Payable" has been paid.

Unfortunately we don't have the deposit/ part exchange figure in the posted paperwork.
However just working on the "opening balance figure" of £17318.98 it would take 35 payments to have paid 50% (£8659.49)

To get the exact number of payments you need to add any deposit/part exchange to £17318.98 to arrive at the "Total Amount Payable" then halve that figure to get the 50% VT point, subtract the whole deposit/part exchange from the 50% VT point, then divide that figure by £249.34 to give the number of months payments required.

As a slight further complication any arrears also have to be paid when you VT even if the arrears take you over the 50% mark.  If looking to VT in the future you should make up the arrears in good time so they count towards the 50% rather than reaching the 50% point still carrying arrears.