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Please Help- half rule confusion!!


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Hi, I have a hire purchase agreement with cygnet financial for a car. The apr is 52%:mad2: The dealers took advantage is a stupid young just passed driver who had no money to buy a car outright and was struggling to get credit!! I want to return the car under the half rule, ive paid 3500 off the car value which was 4800, the total i need to pay is 10841, with the interest!

 

my question is does the half rule mean you have had to have paid half the amount of credit (4800) or the total amount payable(10841). if it is the higher amount then this is sure unfair. lets just say i have learnt my lesson. ive had the car is aug 2009 and everything is going wrong with it. mot time in july and i just know that its going to cost loads- want rid!!

 

any clarification advice would be surely appreciated (and needed) :-)

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