Thread: British Credit Trust - Voluntary Termination

Originally Posted by bluejay

Hello All,

I currently have a Pug 307 on HP from BCT and wish to end the agreement. I have as far as I can tell met all the requirements (i.e paid over 50% and goods have been looked after). I am hoping that the process will be fairly staright forward but having read some of the other threads about peoples dealings with other companys I am becoming quite concerned! So basically I wanted to know if anyone has been through this process with BCT and did all go well or did they make it difficult?

Although I am in a position to do it now, I don't want to give the car back until the end of June (when I will be given a car), what sort of time scales do they work? I don't want to start too early in case I am left without wheels and I don't want to start too late as can't afford to have two cars taxed and insured on my driveway!!!

Thanks in advance for your help.

Rgds Bluejay

I was in the lucky position to have taken a few £K off Nationwide and I phoned British Credit Trust and said I wanted to either hand the car back or settle in full.

They didn't want me to hand it back but offered me more money to change my car. They did try to scare me off handing it back by saying it will show on my credit file. Eventually they said it would show as settled on my credit file....doh!!

I asked for a settlement figure which was for something like £6000. I said the car is only worth £3500 (trade - but close to £6000 private)) so why would I pay the £6000 when I can just hand it back. I said that surely it is better for them to accept a lower settlement figure to save them taking such a big loss and have to £4200 and then sold it private for £5300.

Everyone was happy but me more than them. I am now asking them for over £1000 in charges and interest after I had done the above deal. They ain't happy with this.....aww

Hi all,

Sorry for not having responded to your replies, I had to put this thread on the back burner for a while.

Anyway, I have finally had it confirmed from my car donor that I will receive it soon. I have decided so as to minimise the risk of no car that I will hold of the VT procedure until I have the new one. I am a little worried however (don't want to go into too much detail - you never know who is reading this!!) that as my car will almost certainly be worth less that the outstanding finance is this likely to have an effect on wether or not they will accept the VT???? It is a worry as although I have loyally paid all of my installments from day one, the reason I am getting rid is that I can't truthfully afford it at the moment (also there is the other car) so I am worried that they are gonna pull a dodgy stunt like claim x amount for unnecessary repairs just to make up the shortfall.!!!

Can anyone help?? Am I being too paranoid or getting worried about nothing????

Thanks for all your help

Rdgs Bluejay

Oops - forgot to say

When I took the HP out on the car I also took out GAP insurance on it, I pay a separate amount each month but both this payment and the HP payment are made to BCT - having checked it looks like they provided a loan for the GAP insurance. As it appears to be a loan (I assume they paid the GAP provider (Pinnacle) the full premium and then spread the cost of that over the 60 months), is this still covered under the VT clause or is this a separate arrangement - i.e will I have to pay the remaining amount of the loan up when I VT?? (Also is it possible if I do have to pay, to continue the monthly payments as they stand?)

Anyone??

Please?!?!?!?!?!:-? :?