Voluntary Termination

[SAFC24031980]

Just looking for a bit of info if possible. Me and the missus got a car about 18 months ago on HP. 36 payments at x a month with an option to either buy the car at a pre arranged price or give it back with no charge.

The missus is going back to college and the money is becoming a bit tight so we have looked into this VT thing. However when I've looked on the finance documentation it gives a figure at which point we can give it back but when I've worked it out it equals to about a month before the payments finish. Is this right?

The figures are as follows:
1 x pymnt of 292.44
35 x pymnt at 142.44
followed by an optional 3645.60 to buy

My termination figure is given at 4948.72. Bearing in mind I don't have any intention of paying the figure at the end to buy the car is that figure to terminate correct?? I have been told that once we were a certain way through the deal we could hand it back.
I'm a bit confused with this to say the least so I would be ever so grateful if someone on here could shed a little light on the subject. This is going to be my first and last HP deal!!!!

[callumsgran]

When you have paid 50% of the total you can terminate that would make it now 18 months into a 3 yr agreement!