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Terminating our agreement on our car, advice please?

(7 Posts)
PrincessPeaGreen Tue 13-Sep-11 10:10:39

We've had our car since Jan 10, payments started Feb 10. Finance is for 3 years. However, we absolutely hate the car. It keeps having problems and we just can't wait to be shot of it! We found out the car that we have is known to keep having problems and I wish we had known that before!

Looking in our agreement, it states that we must have paid £x amount and any overdue payments, and have kept the car in reasonable condition. There are a couple of things that need fixing in the car, which we're happy to do ourselves. We're exactly half way through the total amount that needs paying off.

But we're 4 months away from paying off the £x amount. It's £400 to hit that mark, so I was wondering, would we be able to say terminate the agreement now and pay that extra £400 off to hit the £x amount? And also, will there be extra charges involved for terminating it early? Thanks.

HonestlyBanking Tue 13-Sep-11 16:36:57

Could it not be of merchandisable quality? In which case you could reject it. I would suggest looking at www.which.co.uk and www.honestjohn.co.uk.

Good luck

nocake Tue 13-Sep-11 16:44:32

The HP agreement should tell you how to terminate it early and what charges there are.

PrincessPeaGreen Tue 13-Sep-11 17:02:03

Thanks HonestlyBanking, I shall have a look at those.

nocake, it doesn't say anything about charges on there, just the figure that we would need to reach to be able to terminate it early.

Fluffycloudland77 Wed 14-Sep-11 08:41:51

Ok we did this it's called voluntary termination and they hate you doing it.

They may try and scare you by saying it will appear on your credit rating but it doesn't affect it as you are only complying with their t&c.

Take photos of the mileage on the instrument panel on the day if collection, and of every body panel incl the bumpers and side mirrors.

The car company DH works for sends cars that come back to it from finance customers to a seperate company that routinely makes up damage eg cracked screen or a big chip and invoices the customer for the damage. If you have photos you have evidence it was ok and you can say that it must have happened when the collection driver was driving it.

Don't forget both screens and the wheels.
Check what the driver puts on the return form.

Check if you can surrender the tax disc as collection drivers ought to be using trade plates so no tax is needed. I sent my VT car back with no tax. They have their own INS etc.

Remember the motor trade is as cutthroat as it gets and if you get any hassle ring customer services and put in an official complaint. Do not be robbed off, if need be ask to inspect the damage yourself their not above sending photos of other cars just to try it on.

Fluffycloudland77 Wed 14-Sep-11 08:43:36

Fobbed off. iPhones don't like the word fobbed it seems.

PrincessPeaGreen Wed 14-Sep-11 10:00:21

Thanks Fluffy! I am worried that if we tried to do it that we'll just end up worse off than if we just put up with the car for the remainder of the agreement, so thanks for that advice smile

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