Handing car back to finance company

[AlaskaThunderfuckHiiiiiiiii]

Hello

I took out finance on a car back in jan 2018 and have now paid well over half of the payments and am handing the car back to the finance company.

This hasn’t been completely easy as I need to keep it insured, taxes and mot’d even though it is now in our garage off the road but this fine. I sent them the email to voluntarily terminate and made them aware that there was a small dent to the drivers side door which Arnold Clark only pointed out to us when we picked it up. This didn’t bother us and I had no intention of handing the car back at the time. The finance company want photographic proof that this is the case but I doubt Arnold Clark will have photos of the damage, maybe written but who knows.

So now I’m worried. I’m going to end up being charged for this dent when I didn’t do this to the car.

Does anyone know anything about this?

If you can’t prove there was a debt when you got it I think you are a bit stuck really. I doubt they will take your word for it

I have just completed a VT on my car, when it was collected it was inspected and they said there was no damage at that time.
I did get my very small scratches and a tiny dent fixed before giving it back. But as the PP said unless you have evidence there was a small dent when you got the car I don't think there will be much you can do.
Have a look at the carexpert.co.uk they have some really good advice.

So I could be stuck with a bill for £100s? 😩

Surely you can SORN the vehicle if its off the road ?

Then claim the tax & insurance back

I think you just have to pay it and factor it into your car payments. Or pay the car finance off and sell it privately?

You have to keep the car insured for as long as it’s in your possession. Insurance is not only needed when driving the car, it protects against fire and theft too.

If you don’t have any proof that it was there before you got the car then you’ll be liable. Because normally the dealer would have repaired the car after it used by the previous owner when they charged them before selling to you.

Be aware some type of finance like PCP always have charges for going over your mileage too which might cost a lot so factor that in if that’s in your own finance terms.

Sometimes, if what you’ll be charged might end up being a lot, it might be worth it getting a settlement quote from the finance company and checking if local dealers are willing to pay that for it.

Thanks for your answers. I had already sent my notice to terminate to the finance company, there is roughly around £5,000 outstanding. I have paid more than half of the finance which was HP and having read over my paperwork I am able to now hand this back with nothing further to pay other than to have this tiny dent fixed in the car by the looks of it. I have contacted the branch we bought it from but this was over 3 years ago and when we got it they made out like they had only just discovered the dent themselves so really not sure if they’ll have evidence

I queried having to keep it insured as it’s now in the garage off the road until collection but was told I had to keep it taxed, mot’d and insured. I didn’t go down the dealer route as I don’t think they would give me the outstanding balance for it

Google the BVRLA fair wear and tear guide. A small amount of damage to a used car is to be expected and you shouldn't get charged for small amounts of damage.

The last but one car I sent back at the end of a lease was quite tatty by my own admission with quite a few dings and scrapes but the inspector said that only one was more than fair wear and tear and I got a bill for about £60. This was a huge relief as I was expecting it to be hundreds.

@BarbaraofSeville thanks for that, car is being collected next Friday and I have explained I’m disputing the damage with the finance company until I find out either way if the dealer has proof of the damage on purchase or not

It’s now a second hand car so they should expect some wear & tear.
If it was brand spanking new you wouldn’t be handing it over.

Ps - next time take your own photos.