Voluntary Termination HELP!

[I Love Banks (not)]

Hi all,

Hope you are all ok...

I am considering VT'ing my car, the problem is that I think that the car is on Finance, not HP. I am with Black Horse but find the T&C's a little confusing.

Its a 5 year term to which I have paid just under 50%.

I have heard its not possible to VT under finance, you can only do it on HP.

If this is the case then is there anything I can do as the cars value at Trade is about £4200 and I owe over £8000 due to negative equity from previous 2 cars.

Please help

[calvi36]

Can you clarify what you mean by finance? Are you talking, finance lease, personal contract purchase, contract hire etc?

[saxomad]

speak to your finance company and just ask them the question or just ask to see a copy of your contract

[calvi36]

Welcome to CAG saxomad, and to making your first post too. I think Ilovebanks already has his contract as he says the terms and conditions are not very clear. We just have to find out what kind of agreement he has.

[saints12]

If your car finance is with Blackhorse the chances are that it's a loan you have . This happened to me when MG went to the wall I decided to hand back the car as I'd paid more than 50% but was told by Blackhorse that it was a personal loan that the dealer had set up for me. Therefore I had to either sell at a loss or see out the remaining contract.