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MarcA1888
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Posts posted by MarcA1888
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Hi , i have a hire purchase agreement with black horse, i have paid 22 out of 48 payments and i am looking to hand the car back to start Fresh. There is a baloon payment at the end of the term to keep the car but i want a new one now, i was told i could hand this back at the halfway (24month) point but upon read my documents it says it can be handed back once i have paid £14,775 which wont be untill november. Can i still terminate at 24month point or will i be liable to make up the difference to 14,775 ?
Also Any suggestions of how to get out of contract appart from trade in as i would still have nevative equity on the car.
Many thanks
Marc
Car finance hire purchase clause
in General Motoring Issues
Posted
Hi there and thank you for replying on this matter as i find it rather confusing.
To confirm you say 50% may be different from the half way point you mean that it may be more like 35 payments rather than 24 out of 48 ?
Basicaly the total loan repayable is 29,000 and when i have reached 14,500 regardless of which number of month i am on then i can hand back?
Thanks
Marc