Need advice on VT'ing my HP agreement.

[Iain82]

Hi,

I have been thinking about using the early termination option on my HP agreement. I have the agreement with the Bank of Scotland (not sure if that makes a difference) and have just passed the 50% point.

One of my concerns is that I serviced the car once myself and as such it is missing 1 stamp in the book. Do the finance company require full service history? I don't even have any way of proving that I did the service as I never thought to keep the receipts for the parts I bought.

Another query I have is, will terminating the agreement adversely affect my credit rating? I'm not overly concerned if it does but wanted to find out.

I am planning on calling the bank next week to arrange for the collection of the car so any info would be hugely appreciated.

Thanks

Iain

[Guest wino]

Hi Iain82 and welcome to CAG:)

 

My OH VT'd a car last year no probs. There is nothing on my OH credit record about it. You don't need any service records, it is just usefull for the new owner to see what work has been done on the car previously.

 

We didn't get our service book stamped (kept forgetting to take it) we just put copies of all invoices in an envelope and sent that back with the service book

[Iain82]

Thanks for the quick response Wino.

 

Puts my mind at rest

 

Iain

[heliosuk]

Errrrrrrrrrrr, Wino, this is very, very far from the truth. In your case you could provide evidence and did.

 

Without evidence of a servicing history the company can usually demand the difference between a vehicle with a service history and one without, and they do do it.

 

I'd be inclined to write in the book "serviced by owner using parts of equivalent OEM quality" and sign it as such. They won't pursue it then.

 

Remember though that to falsify a service record is a criminal offence so only do this if the above statement applies.

[Iain82]

I had a feeling that they would want to see the full service history.