Voluntary Termination

Jamesx81x · 28th September 2008, 22:18

Hi

When a car is re-possessed the creditor sells on the car and the proceeds go towards lowering the balance you owe.

I as wondering can you use this argument when you want to VT the car.

My settlement figure to hand the car back at the half way point is the value of the car and the amount they would have paid the dealer when i took out the finance so they will have made their money back when i hand the car back.

They will then go on to sell the car making profit from the sale. If they give you the value of the car when it has been re-possessed then why not when you have honoured your agreement?

Thanks

ReasonableRon · 29th September 2008, 10:10

VT rules are that you need to pay half the total amount payable PLUS hand back the car.

Jamesx81x · 29th September 2008, 17:51

Thanks for the reply.

Yeah thought it was! Was just wondering! Would be nice to get a little back from finance company, not likely though!

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