Voluntary Termination on HP but car not driveable

Lilsycamore

Hi
Im having a bit of a nightmare and wondering if anyone has any experience knowledge in this area. 

I took a car out on HP early 2019 over 5 years. The car has been a nightmare since day 1, continually breaking down and in the garage- turbo, clutch, radiator etc etc all fairly big bills each time. The most recent was the turbo and my aim was to give it back to the finance company under VT as soon as it was fixed. However just under 2 weeks later it broke down again. Apparently its an oil pressure issue amongst some other things. I've been quoted £1500 for repair. 

Heres the VT question. Is there anyway I can return under VT with the engine issues (its not driveable at present). 

Im a recent single dad and need to find a new house to rent by January and I just can't afford to repair this car again. Its at the point that I'm driving a friends old car thats barely running and paying over £250 a month for a car that doesn't run. 

Any advice on how to handle this would be hugely helpful.

Jenni_D

Why didn't you reject the vehicle after the first repair failed to make the goods conform to contract?

Lilsycamore

Because I'd have it around 6 months and considered it to just be unfortunate as things do occasionally go wrong. It was before I'd reached the halfway point of paying as well.

Grumpy_chap

How old is the car?  Does it still have any manufacturer warranty?  Or any other warranty?

This might be a long shot, but what can the car be sold for with the fault present?  Is that sufficient to settle the finance?

I am not an expert, but understand the car would need to be working to invoke VT ( or subject to an additional charge to cover the repair).

Lilsycamore

Its a 2011 plate and under no warranty. Unfortunately they don't get much to sell on, I've been looking. Its a Chevrolet Captiva and it looks like they generally aren't great cars ive since realised. 

I couldn't cover even half the outstanding finance on it selling as is. I assumed the car would need to be working to invoke VT. Maybe my only option is to try and find the money to repair it again and then invoke. Honestly its a nightmare just now. 

Herzlos

Yeah the car needs to be in good condition to VT.

So your options are to repair it and VT, or to sell it and settle the finance. Have you checked if you're at a position where you can VT it, given you're only 2 years into a 5 year deal.

Jenni_D

Good point ... and remember that the 50% point includes any balloon payments, so it's 50% of the overall finance deal not just 50% of the term.