All sorted, got letter today stating account is now closed, nothing further to pay. No repairs, no condition issues and everything closed down - I'm now a VERY happy person!! Thanks for the advice and guidance.

So I've returned my vehicle today to the drop-off site, will be sending the settlement cheque on Friday to get me to 50% and settle the insurance and then I guess I just have to sit and wait to see what they try to hit me with...

You would think, but even the FOS is saying they aren't liable for the repair, I am apparently...

I've been in touch with them over email all day and have arranged to 'drop-off' my vehicle tomorrow morning, yes I'm getting this thing done fast, the problem is the drop-off location is just a drop-off no inspection will be done and I don't know where or when that will be done but I'm pretty sure it won't be possible for me to attend. My plan is to take as many photo's as a I can, time stamped by my phone but I'll also have a newspaper with me to get in each shot I hope. I intend to take a photo of each body panel, interior incl. boot, the included spare wheel and tools, engine bay under the bonnet and each wheel too along with each pane of glass. There is a small scratch on my passenger side door that was present when I purchased the car but otherwise it's clean - also one small scratch is in my opinion fair wear and tear for a 5yr old car that's done 47k miles. I'm hoping this will be enough to cover me in case they raise something. They have asked me to complete V5 section 9 but their won't be a dealer signature when I send it off (does that matter?) and MOT certificate. I had a major repair done to the engine last year, should I include the invoice for that work too? they haven't asked for it but I'm wondering if I should.... Thanks

So I got a message from Advantage Finance this morning (I emailed my VT notice rather than posted) and this is what they said: Total to pay for HP: £231.90 Total to pay for Insurance: £71.91 Total to pay: £303.81 (woohoo!) Also they have stated I must 'return' the vehicle or they can collect for a charge of £80, I have emailed them back to say I am willing to return to a location within 30mins of my home address and if there isn't one in that distance then I would expect them to collect the vehicle for no charge as the statue states they cannot charge fees related to the VT. Will see what they say

okie dokie, I'll definitely try to close out both as yes it will save some ££ for sure

Thanks - I'm not sure if I'll have the funds to also clear the Motor Protect Plus agreement, but from what I read it's a subsidiary agreement that can have a life of it's own and paid separately if I terminate the HP portion as it has it's own signature separate to that of the main HP agreement (please tell me if I'm wrong) Also I'm not sure how the fca link mentioned forms a basis for the motor protect plus to be reclaimed, am I purely claiming it was mis-sold because it is insurance tied to the hp or is there some other grounds as I don't see how the case against GAP and this kind of policy equate (and yes I admit I may well be being very stupid in not understanding this bit)

done

Yes there is and it is titled SUBSIDIARY AGREEMENT FOR OPTIONAL INSURANCE and in the signature section there is a separate section for it and signature box for me to sign. I think I'm going to have issues posting the agreement in full as I don't have a way to scan it in only the original raw PDF file. The motor protect plus thingy from the AA was to cover: MOT Failure repairs eg: if I fail MOT then it pays for MOT identified items Tyres being damaged or needing replacement Keys being damaged or lost Thanks

hi, I'm not at home right now but if I can dig the agreement out of my email and edit it up I'll post later... There was an additional insurance AA Motor Protect Plus for 3yr at a cost of £545 added to the finance so that totals at £926.40 with the interest over 48 months, I'm guessing that I will be entitled to an interest rebate on this portion there is I recall a statement that the termination rights relate only to HP portion of the agreement and I'm still liable for the optional insurance. Now from what I read of the agreement there is nothing stating that I must pay that amount if I terminate in full and implies that I could if I wanted continue to pay that loan in monthly installments as it's not technically related to to the HP and so they can't prevent me terminating that part, so in theory I can terminate the HP and continue to pay the optional insurance at £19.30 a month until it was paid off. I must admit I'm befuzzled how an insurance/service/product that has a defined period of life eg: 3yrs can be paid for over a 48 month finance agreement seems a bit weird to me... So in short yes there is an additional insurance but the sum is pretty tiny nothing big like a warranty or such. btw I'm 19months in to 48month agreement.

Hi, Thanks for the advice, my initial query was mainly to sanity check my own thinking, my understanding is that if I VT and am at the 50% barrier then there is no real affect to my credit file as it's not a default but a VT and right executed under CCA1974 which should result in the account showing as satisfied rather than defaulted. I have the £300 odd that I think I need to reach the 50% barrier and wanted someone to sanity check my sums and reasoning, I am not looking to VT and then get to pay off any outstanding liability over time as I don't want the damage to my credit file I simply to be rid of the heaping steaming mess of a car I thought I was saddled with but now have an opportunity to return with no impact to myself. It is in great condition, has had a major repair and now I simply have no faith in the vehicle and no confidence in it. I'm looking to VT to be rid of it and walk away and put the whole sorry mess behind me. I know advantage will pull every trick in the book - I already have them with the Financial Ombudsman on a complaint I've made so I know what they're like.... I think my numbers are sound and I've been through the total payable and the sums on their own form so I think I'm good just wanted someone to agree with me or not that my understanding was correct and my assumptions seemed about right. Cheers

Hi I'm looking to VT my car currently on an HP agreement with Advantage Finance and I want to make sure I'm on solid ground as I think I'm only £400 away from hitting the magic 50% payment number. So could some kind soul(s) chip and confirm my thinking? I bought a car at 9750, paid 2250 deposit with remaining 7500 being funded by advantage finance, on my agreement it states total amount payable is 15425.28 which is made up of the purchase price of 9750 + interest and charges of 5675.28 The 50% barrier is stated as 7712.64 now by my reckoning I have currently paid 5155.84 in payments plus the 2250 deposit that was paid (it was a part-ex but that doesn't materially matter I don't think) takes me to 7405.84 so if I pay an additional 306.80 I'm home and dry with nothing more to pay. Am I right? Thanks in advance