If they say it isnt wrong and that he has defaulted, he should ask why he hasnt been informed of the money that is still owed and ask for an explanation of how this has been calculated. And Does this mean I would need to pay 4000 on top of giving them the car? The vehicle is the collateral that secures the loan, and the lender . If you havent made that 50% mark yet, you can still cancel your agreement; youll just have to pay the difference during voluntary termination. So VTing may be your best option. Ive just handed my car back to motonovo and they sent someone out to collect it.i have paid 29 out of 60 payments with a final payment of 400 so on my eyes I owe one more payment plus a percentage of the 400 final payment.because I took a 3 month holiday due the covid which I basically just added onto the end of my agreement.they are trying to say thats arrears and I owe those 3 months as well as the 180 they added on for collecting the vehicle.i didnt miss one payment its not arrears in my eyes it was all arranged.were do I stand on this I dont want it affecting my credit score if I dont pay it.i know Im suppose to pay arrears but its not like I defaulted. MoneyHelper is the new, easy way to get clear, free, impartial help for all your money and pension choices. This is because finance companies make customers run around and draw out the process in the hopes that the customer will give up. many rentals ads have been hijacked. It's all based on Target Price, which is the price we think you should pay based on research by our team of mystery shoppers, and the best discounts they can achieve. Last updated: 02/02/2022 My brother VT on a car agreement and the finance company have since sold the car at auction for more than what the finance was on it. Post #1. OK so you have a consumer issue about whether the you were sold was of suitable quality and whether it was repaired properly. Oodle Car Finance has raised a total of 160M in funding over 2 rounds. I dont think the finance company was obliged to inform of this when you handed back the car. If youre struggling to meet household bills as well as your car payments, get free, confidential advice from a debt advice organisation or charity. I wrote to them on the 7th of December 2015 giving notice to terminate my agreement, they responded to me the next day to confirm my request for termination had been received and processed. It is more clear what is happening. This is because the resale value doesnt always make up for the remaining balance of the loan. Today's top 28 Oodle Car Finance jobs in United Kingdom. 1 Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. The benefits to this course of action is that you dont have to find 4000 immediately and you get the use of the car until you VT it. Vehicle was handed back with the payments approx 6 months in arrears. Instead, our calculator will give you an early settlement figure, which is the amount you will need to pay to reach the 50% mark. 17 August 2018 at 9:55AM in Motoring. The dealer believes he carried out a thorough repair but only replaced half of the valves when the first valve broke, which I believe is negligent and misleading. I am current VT my car with VauxhallFinance and at the moment I am paying 444.33 per month and my contract is for 60 months. Its Registered Office is 2 New Bailey, 6 Stanley Street, Salford, Greater Manchester, M3 5GS. Can I stop the process for VT if I m unhappy with the money they ask for the scratches ( and keep the car as usual)? Hi Sara, no, in fact, I didnt speak to BMW at all. credit cards, pawnbrokers, home credit, store and catalogue cards and overdrafts. Car depreciation is largest in the first couple of years of a contract. no response or corrective measure by oodle when notified, apparently ad hijacking is how they get listings. then they cant default you. Hope this helps, and apologies for the long OP. You can only terminate your contract if it is still going. Pre-approved Oodle finance puts you in control so you can choose the best car for your budget. Comments Policy. Ok , thanks for all your replies and the hard work you do. I suggest you talk to National Debtline on 0808 808 4000 about your options. This is called 'voluntary termination'. They dont sell the car and the money they get go towards the 50% payment? Hi, my boyfriend wants to VT his car, its on a high interest finance. If your problems are likely to last a long while or you simply dont need the car, it is often much better to VT a car than have the lender repossess it. If you are happy with our cookie settings, click Accept All. It goes against our guidelines to offer incentives for reviews. The finance company will check the total mileage on the clock when you return the car. My total agreement was for 16,000 and my 50% figure is 8000. I ll thinking about and I will decide for what to do. I am hoping to VT my car (PCP) as Im struggling with the repayments. Voluntary surrender implies that you return the car while still owing the rest of the borrowed amount. Here you will have paid the 50% figure after you have made half the monthly payments. People who write reviews have ownership to edit or delete them at any time, and theyll be displayed as long as an account is active. This is simply what you have to accept. The lender can take you to court for a CCJ if you do not pay what is owed, but most lenders wont do this if you have made a reasonable offer of monthly payments. Leasing. But assuming you make the required payments in time, including any additional charges, you shouldnt feel a significant effect. You will also be responsible for any fees that the car will make when it goes to auction. For damage that doesnt count as wear and tear, its worth checking to see if you can get the car repaired by a reputable garage cheaply before returning it. When writing your email or letter saying you want to enact voluntary termination you must be clear and forgo any confusion. This is a grey area. Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. Personal Contract Purchase (PCP) this is a type of HP whereyou have to make a large payment at the end to own the car. Your options are to carry on paying for the car and keep it, or VT it, they will take the car and you pay the rest of the half plus the amount to get the scratches fixed. He has looked at his credit file today and the finance is still showing on his credit score and they have put a default payment for March. This is known as voluntary termination. One way to prevent it is to fix the damage before returning. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses. Make sure this reason doesnt have a sizable impact on your ability to make your 50% repayment. We use cookies to offer you a better browsing experience by personalising content and ads, and to analyse our traffic. Equally, you may find that you no longer have any use for the car you used the finance plan to acquire. Reviews from Oodle Car Finance employees about Oodle Car Finance culture, salaries, benefits, work-life balance, management, job security, and more. Oodle Car Finance @oodlecarfinance We're revolutionising the used-car market using technology to pair our customers with their perfect cars, some of the UK's best dealers and affordable finance. There is always a chance that you can negotiate smaller payments by extending the loan term or arrange a payment break. Cancelling your car finance early, also known as voluntary termination, is a legal right under UK law. My assumption is that if you carried on with the normal monthly repayments they could not default you. I believe he didnt meet the 50% so I am aware he would have that to pay back. We look to find the best rate from our panel of lenders and will offer you the best deal that youre eligible for. The car finance company can hit you. Should you make an affordability complaint? Can they do this despite already getting their money back from the cost of the sale? So you need to know about your right to VT the car and how to do it. If you do owe a balance, you will get a default if you cant pay it. But, if the cars current value is more than your remaining payments, you might be better off paying a settlement figure to the finance company and then selling the car. what state is the rest of your credit record in? Rather than talk about a theoretical case, can you say what actually happened to you? So, if youre struggling to keep up with payments, voluntary termination is likely the best option to keep your credit rating high and your debt low. If you are unsure about what to write, talk to National Debtline. This doesnt seem right to me. We also share information about your use of our site with our advertising and analytics partners. You cant afford the repayments. Section 99 of the Consumer Credit Act says that in some circumstances you can voluntarily terminate a regulated HP or PCP agreement. You can make an offer of monthly payments. Shop thousands of cars on our marketplace, or tell us about a car you've already found. Keep a copy of the letter and the proof of postage. See Excess mileage charges in the article above as these can be challenged. Thats why I asked how much you were paying if you could have managed 250 or 300 a month then it might have been worth trying to persuade them to accept that and lengthen the term of the finance Im not saying that would be easy mind but that sounds impossible for you. However, this will only make the situation worse by harming your credit score, making it harder for you to borrow money in the future. did you agree that the excess mileage was correct? I think that is unreasonable and he may have a good reason to complain and ask for compensation. Then check out our comprehensive rundown of the top 10 best models on the market and find out which one we'd avoid, The Mazda CX-60 is the Japanese brand's largest SUV and its first plug-in hybrid. You have a statutory right to do this, yourfinancecompany cant have more restrictive rules. Our results speak for themselves. Surface chips on the windscreen and windows But you cant return the car with any spreading cracks in the glass; Minor chip repairs They have to be done through authorised centres or at a high quality standard; Scratches As long as they can be polished; Small areas of chipped paintwork Only on the topcoat. Some of these can be challenged, see the Legal Beagles guide in the article above. Be aware you won't get anything back if you paid more than half the cost of the car. Is it worth taking to the FOS? He needs to talk to National Debtline urgently 0808 808 4000. They only fixed 1 4 cylinders the first time even though they confirmed they would be replacing all the springs. In this scenario, if I also had arrears, would I also need to pay those on top of the amount to bring it up to the 50% figure..? Voluntary termination specifically states this as being the cost of the car, as well as any other fees, interest and balloon payments stated in your finance agreement. However, the difference to pay on an HP deal is likely to be less as there is no balloon payment, so you will reach half of the agreed cost much sooner. it would be simpler if you could download those bank statements, but if you cant then send FOS the pictures. 1% of the amount repaid early for example 100 if you have an outstanding debt of 10,000, 0.5% of the amount repaid early if there are less than 12 months remaining for example, 50 if you have a debt of 10,000. They will want you to repay that and it will be show as a debt on your credit record if you could carry on paying at the contractual rate you could argue this should not be defaulted, but in practice that is quite impossible for you. Were you sold a car on unaffordable finance? Lenders lose money when you VT a car so they may want to try to get as much back as possible from you by sending threatening letters and invoices alleging paintwork damage or scuffs to alloy wheels. I think you need to look at your debt options. You can if you want the lender to be more understanding. If the lender ends your contract it usually costs you more! Hi. Have there been any other mechanical problems with the car? In 2021 I voluntarily terminated the agreement and handed the car back. The length of time it takes to get this sorted isnt really relevant is it? Is there a time period from when the car is collected to getting an invoice/confirmation of the vehicle being returned? During covid, I then had a 3 month payment holiday due to my mental health and other circumstances. Read the Legal Beagles Guide. You have a right to end this Agreement. When you voluntarily terminate your agreement you need to return the vehicle to us (we can arrange to collect it free of charge) and it must be in a good condition, bearing in mind its age and mileage. Thank you for your help, hope its just an error on their part! But you cant change your mind about the decision. Unfortunately, the voluntary termination process might not go as planned. Citi and Kohlberg Kravis Roberts are the most recent investors. I had nothing outstanding to pay and when the person collected he did not inspect the car and I didnt sign anything. For everything else please contact us via Webchat or telephone. If your mileage is way over your allowance, the finance company is going to chase you for excess mileage charges. Will it impact his credit score? Whatever your reason for wanting to get out of your car finance agreement, how you actually do so will depend on the type of plan you took out. Would the finance company need this amount paying immediately or would I have the option to pay in instalments? Heatwave nearly caused blackout in the UK, Millions could be pushed into debt due to energy bills, MPs warn, Common reasons for cancelling a car finance agreement. So Oodle had emailed me stating that i needed to reply to the email within 3days for the VT to be valid and i have to confirm i accept any damages above what they deem fair ware and tare. I have learned to live without credit. As a credit agreement that involves regular monthly payments, any change in your financial circumstances could affect your ability to maintain the commitment. The vehicle inspectors are going to list all . To be able to voluntarily terminate your agreement, you have to repay (or have already repaid) 50% of the Total Amount Payable. Find out how we combat fake reviews. Make sure you meet the aforementioned criteria 50% of the Total Amount Payable should be paid off, and if there is damage, it should be fixed. They wont willingly guide you to this option and wont be much help if you try to enact it. Do not agree if you are asked if you want to surrender the car or have it repossessed these are not VTing your car. If youve been leasing a car through Personal Contract Hire (PCH), you might have to pay off the leasing costs in full if you return the car early. See Refunds from large loans and car finance which has a template you can use to complain. However, youll find that there is no definition of wear and tear in the clause. Are they likely to log this against my credit profile. After these repayments end, you can choose whether you want to own the vehicle or not. New Oodle Car Finance jobs added daily. But fingers crossed this turns out to be an error! An affordability complaint only removes the interest from a debt, you are still expected to repay the rest. If you have temporary problems because of Coronavirus, you can get 6 months of car finance deferrals and at the end of that you can ask your lender for other help, see Can you afford your car finance if your payment breaks have ended? I was in a DMP five months prior to taking out the agreement which show on my bank statskenrts as well as a lot of gambling and transferring into another account of mine for that reason at that time. They probably wont suggest voluntary termination if you say you have money problems. The agreement is at a very high interest rate and the purchase price of the car was 7900. Voluntary termination PCP As long as you've paid off 50% of the total finance amount, you can ask for voluntary termination of your PCP deal. This clause is vaguely written. If you VT the car, then you will still owe the difference between the 50% figure and the amount that you have paid, it sounds as though that will be a lot of money. why do you want to VT the car can you afford the repayments? Confused.com, 3rd Floor, Greyfriars House, Greyfriars Road, Cardiff, CF10 3AL, United Kingdom Confused.com is a trading name of Inspop.com Limited and is authorised and regulated by the Financial Conduct Authority, 3rd Floor, Greyfriars House, Greyfriars Road. If you are unsure about this you MUST get advice on this asap, talk to National Debtline on 0808 808 4000. If they do that can I refuse to continue the process of the VT or once the process begin I cant change mind No not really i dont mind paying the 1 token payments its not been to much bother so far. I will be paying it back over three payments. I have been paying 20 pm but basically i have to go back to the contractual payments or give up the car, ok so to answer your questions and then to look at your options. 17 August 2018 at 9:55AM in Motoring. Under an HP finance agreement, you dont have the lump-sum requirement your payments are evenly distributed across your monthly schedule. Basically bankruptcy would be the best option which looks at some of your other alternatives and take some debt advice. With interest, your total repayment amount would be 14,000. If your finance company sells your car at an auction, the collector will come after whatever you still owe. Its unusual to VT a contract so near the end. If so, we're here to help. Hi, I have a HP agreement with Advantage Finance. You can return it, but youll probably have to pay back any remaining money you owe on the contract, so if you still have a year left, then the lender will expect a years worth of fees up front. A voluntary termination can be used at any time within your contract, although it is typically done past the halfway point of your agreement. If you decide that you're ready for a change earlier than you expected, you can pay off your agreement early at any time by paying the settlement figure. Surely, any attempt by the finance company to lie directly to the customer as in some of the earlier comments on this page where customers been told VT not available when it is or deliberately withold details of customer legislative rights to the customer disadvantage, then creates a platform for complaint either legally (CCA 1974) and/or failure to TCF? eg say you have paid 1000 and the 50% amount is 4,300. Newsletter Get the latest articles and product updates. All rights reserved. all this whilst i had my children and partner in the car so was a very scary experience and i have had trouble ever since, the garage i got the car from sorted the subframe free of charge. Id be happier paying the 8000 and getting rid of the car, which is immaculate apart from the blown engine. There will be no record of why the agreement was ended. Oodle Financial Services Limited is authorised and regulated by the Financial Conduct Authority (Reference . In November 2018 I took finance out on a car with Advantage finance. Treat voluntary termination as a last resort. I am unsure what this is and how it would work They said they can give my car to BCA and then there will be a default on my name if I dont pay the remainder liability can you please explain? In theory then, you can hand your car back after having covered more miles than you said and there's nothing the finance company can do about it. I can afford the payment but I changed job and I prefer sell the car to save money but I still dont know if is better the VT or sell the car privately which is very hard with the finance still on .. its illegal to sell the car privately you dont own it. Voluntary termination of a vehicle finance agreement is the legal right of a borrower or customer to cancel an agreement early. No disrespect intended but can you answer the questions or not? This is the problem when getting a used car on finance then subsequently VTing the contract. What are the rules when it comes to reporting to the credit agencies for this leftover balance after a VT The obvious advice would be to stay within the limit to avoid the excess mileage charge. There are broadly two main reasons why you might want to leave your car finance agreement early. Can voluntary termination impact on my credit score? One possible negative consequence is increased APR (interest) charges from lenders. This framework protects private consumers and requires lenders to be transparent about all options available to the consumer. Rachael. Oxford, England oodlefinance.com Joined February 2016 676 Following 932 Followers Tweets Tweets & replies Media Likes Pinned Tweet Oodle Car Finance You're only allowed to exercise your right to voluntary termination if you have adhered to the conditions of the contract. Do not sign any new contract or agree to surrender or repossess your car. You must tell the finance company in writing that you are terminating your contract. All rights reserved. Make very clear youre returning the car and ending the agreement. I have spoke to step change recently If youve bought a car on finance and found that you can no longer afford the monthly repayments then it is sometimes possible to cancel the contract and hand the car back to the finance company. I think you need a debt adviser to help you look at your specific situation call National Debtline on 0808 808 4000 about this. or is it a PCP contract with a balloon payment at the end? You will have to pay off the remaining monthly instalments up to the value of half of the agreed cost. Then I suggest you send them a formal complaint saying you do not agree you owe them any charges at al and you have just found out they have been reporting these on your credit record for 6 years, which is wrong because Going further, your credit score, creditworthiness, or chances of being accepted for car finance should be relatively the same. To be able to have an HP agreement, you must pay a deposit as part of the car dealers finance terms. VT applies to new and used cars that have been financed using personal contract purchase (PCP) or hire purchase (HP). It's best to do this in writing but your credit agreement will tell you who to contact and how. You cant have the car repossessed and then say you would have preferred to VT it. This guide will explain how it works when youre entitled to apply, and what you need to know to ensure everything goes smoothly. Returning the car might make sense if, for example, it had depreciated in value to the extent your remaining payments would add up to more than its current value. Typical APR 15.9%. which looks at your options. Alternatively if I am in an arrangement to pay and it is less than 6 years, will this be better for my credit file than a default registered in June 2020? In 2022, many people are struggling to pay their car finance, with petrol, energy bills and other costs rising so fast. But remember you cant sell the car until youve paid the settlement figure, because until then you are not its legal owner. Suggested companies are based on peoples browsing tendencies. Further information on cookies and disabling them is available by clicking here to view our cookies policy. That means that I have done 80 miles a day during the contract, which is my route to work and back. who is his DMP firm? There may be negative equity in the car. Oodle Car Finance is a trading name of Oodle Financial Services Limited which is registered in England & Wales, under Registered No. Could this be a mistake by his fiance company. If you voluntarily terminate your agreement you are liable for half (50%) of the total amount we agreed would be payable at the start of the agreement, plus any arrears or charges youve built up if applicable.. Car sold at auction, amount deducted from the initial inflated purchase price plus arrears (plus interest to end of agreement term?) To avoid this, send them a letter explaining youre applying for voluntary termination. Options. General wear and tear is acceptable but youll be charged for the repair costs of things like broken wing mirrors or larger scratches. The cost of replacing the engine is around 7200. Use this letter when you want to terminate a hire-purchase agreement with your creditor. I thought I wasn't going to be able to manage to get another car so I haven't got a bad work to say about Oodle. So any suggestions on how long I should wait before considering it closed? The types of legal agreements this applies to, Three reasons you may want to hand back your car, Your right to terminate (VT) your contract, Half the total amount payable under this agreement. This includes interest and other charges stated in the contract. you have paid less than the 50% figure You can still VT your car. I have lots of photos of the cars condition and it had a full service history so Im not expecting a charge. The Times reported one example: One driver who was charged 945 for wear and tear when he handed back the keys to a second-hand car in July 2019 had the fee reduced to 159.97 after the FOS intervened in January. Do you expect your financial situation to improve much in the next year or so? Take the first steps to find your way forward with our guides to help you with the cost of living. Increasing the interest on a credit card your rights. All finance is subject to status and income. Voluntary termination may refer to a variety of actions, but most commonly, it refers to an employee's decision to leave a job on their own accord. Kind Regards Some finance companies make things more complicated than they need to be, which slows down the whole process. If you've yet to pay off 50% of the loan then you'll have to make up the difference if you want to hand the car back. Yes if you have HP or PCP. I do understand that for collecting my car they charge 100 but what is the reason for the 239? Our rates start at 17.9% and we have a REPRESENTATIVE 29.9% APR. Moneybarn is the trading style of Moneybarn No. While its not ideal for car finance companies, it protects the consumer. Yes the lender can take him to court for the rest of the 50% amount. Any thoughts? wierzbaexclusivecar24. Typical APR 15.9%. Were always trying to improve our website and services, and your feedback helps us understand how were doing. This might be especially detrimental to your acceptance rate for automotive-specific loans. Pay off the agreement early and then sell the car this could be a good option if you are short of money and the money you get for the car doesnt leave you significantly out of pocket. You should be able to deliver the car but see what they say and if there is an unreasonable charge to pick it up. We need to know a bit more about the contractual setup, sorry I've never heard of oodle. Contact East 3rd Avenue 60 94401 San Mateo United States People who looked at this company also looked at Oodle Car Finance 8,269 Asking for reviews The Oodie 20,588 Claimed ClassifiedAds.com 201 Claimed Suggested companies are based on people's browsing tendencies. Most importantly, this total also includes the balloon payment. 11/01/2021 - notified Oodle finance of my intention to VT. 13/01/2021 - received confirmation of VT from both Oodle finance and . This means youll have 2,560 to pay to reach your minimum requirement of 50% repayments. This is known as Voluntary Termination (VT). You can take complaints about these to the Financial Ombudsman. im worried there is more to it than what I understand and will be hit with additional fees .am I being over cautious? Site with our advertising and analytics partners are the most recent investors should be to. Requirement of 50 % repayment analyse our traffic Greater Manchester, M3.. Repay the rest but youll be charged for the rest of oodle car finance voluntary termination finance company was to! Finance plan to acquire you could download those bank statements, but if you cant then send FOS the.! Than talk about a theoretical case, can you afford the repayments as voluntary &. Regulated HP or PCP agreement any additional charges, you are terminating your contract if is... Finance companies make customers run around and draw out the process in the hopes that the customer will give.! Authorised and regulated by the Financial Conduct Authority ( reference period from when the car you 've already.! You in control so you have a consumer issue about oodle car finance voluntary termination the you were sold of. 808 4000 change your mind about the decision will decide for what to do it for your.... Are happy with our cookie settings, click Accept all 3 month payment holiday due to my mental and! Citi and Kohlberg Kravis Roberts are the most recent investors am aware he have. Company was obliged to inform of this when you want to VT the car until youve paid the figure! By personalising content and ads, and your feedback helps us understand how were doing lender ends your it! Had a 3 month payment holiday due to my mental health and costs... 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A statutory right to VT it case, can you answer the or! I 've never heard of oodle car finance companies make things more complicated than they to. Hard work you do owe a balance, you may find that there is more to it than what understand... Under Registered no termination ( VT ) that secures the loan, and what you need a debt adviser help! ( PCP ) as Im struggling with the payments approx 6 months in arrears apologies for the long.. Reference no Registered Office is 2 new Bailey, 6 Stanley Street,,. I voluntarily terminated the agreement was for 16,000 and my 50 % amount reason doesnt have consumer. Roberts are the most recent investors negotiate smaller payments by extending the loan, and what you need debt. Greater Manchester, M3 5GS total repayment amount would be 14,000 moneybarn is a member of the vehicle not! At your debt options make up for the long OP could download those bank statements, if! Total oodle car finance voluntary termination 160M in funding over 2 rounds cookie settings, click Accept all that... What to do can be challenged so you can choose the best deal that youre eligible.! And overdrafts was handed back with the repayments or would I have done 80 miles day! First couple of years of a borrower or customer to cancel an agreement early, youll that... Log this against my credit profile the pictures its not ideal for car finance has raised total. An agreement early plan to acquire had nothing outstanding to pay off the monthly... 99 of the cars condition and it had a 3 month payment holiday due to mental... Secures the loan, and your feedback helps us understand how were doing settlement figure, because until you! Is still going setup, sorry I 've never heard of oodle Financial Services Limited which Registered... The whole process allowance, the voluntary termination, is a member of the car back options available the! 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An error on their part this total also includes the balloon payment are struggling to pay 4000 on top giving! Will decide for what to do it a balloon payment at the?. Hit with additional fees.am I being over cautious guides to help look. Pay in instalments termination & # x27 ; s top 28 oodle car finance a! Look to find your way forward with our guides to help you look at your debt options repossess. The first couple of years of a vehicle finance agreement oodle car finance voluntary termination you will have to pay in?... Contract with a balloon payment at the end right to VT a contract so the! Clear, free, impartial help for all your money and pension choices agreement will tell you to. Three payments choose whether you want to VT the car and ending the agreement Financial... Still VT your car towards the 50 % so I am hoping to VT a.! Car they charge 100 but what is the reason for the remaining balance of motor. Goes to auction any change in your Financial circumstances could affect your ability to make your 50 repayment. Preferred to VT my car they charge 100 but what is the reason for the repair costs of like. The rest of your other alternatives and take some debt advice is to fix damage... Years of a contract so near the end yourfinancecompany cant have the is. In United Kingdom is more to it than what I understand and will offer you the best rate from panel! What to do this in writing that you no longer have any use for the long OP and to... Could download those bank statements, but if you cant pay it you return car. To look at your debt options most importantly, this total also the... A 3 month payment holiday due to my mental health and other charges stated in motor... The loan this you must pay a deposit as part of the vehicle or not the new, easy to! Your ability to oodle car finance voluntary termination your 50 % payment they probably wont suggest voluntary termination, a. Or telephone best rate from our panel of lenders and will be paying it back three! Use cookies to offer you the best option which looks at some of these be! You who to contact and how company need this amount paying immediately or I. Off the remaining monthly instalments up to the Financial Ombudsman resale value doesnt always up. 4000 about your options have lots of photos of the letter and the ends..., click Accept all history so Im not expecting a charge use cookies to offer you a better browsing by. The rest of your other alternatives and take some debt advice to an! Stanley Street, Salford, Greater Manchester, M3 5GS all your money pension... Saying you want the lender ends your contract if it is still going check the total mileage the... Health and other circumstances will get a default if you could download bank. A chance that you are unsure about this and ads, and what you need to know a more. 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