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Car HP - Voluntary Termination
HI
I am looking at exercising my right to VT my HP agreement with V12 Vehicle finance.
I have not yet paid the 50% threshold required to VT, however I am willing to pay the remaining balance to reach the 50% mark. (V12 have confirmed the amount over the phone etc).
However, they also advised that because I have not reached the 50% mark yet, and would have to pay a final balance, they can report this on my credit file as missed payments?
Can someone explain further? Is this just scaremongering to make me think twice before going ahead?
Surely If I pay the remaining balance to reach the 50% mark and hand the car back, I havent missed any payment?
Cheers
I am looking at exercising my right to VT my HP agreement with V12 Vehicle finance.
I have not yet paid the 50% threshold required to VT, however I am willing to pay the remaining balance to reach the 50% mark. (V12 have confirmed the amount over the phone etc).
However, they also advised that because I have not reached the 50% mark yet, and would have to pay a final balance, they can report this on my credit file as missed payments?
Can someone explain further? Is this just scaremongering to make me think twice before going ahead?
Surely If I pay the remaining balance to reach the 50% mark and hand the car back, I havent missed any payment?
Cheers
0
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