Hire Purchase Termination

[Midas Minus]

I am new on this site and not sure if anyone will get to see this. A friend of mine (genuine this isn't a confession about a marital problem or alcoholism) has an Audi TT which she brought under a Hire Purchase Agreement she is 3.5 years through a 4 year agreement but wishes to terminate. Audi Finance have a clause in the termination rights notice that says Termination is possible after 80% of the the loan sum has been repaid. I believe that the law says 50%. Is the 80% rule enforceable or is the 50% a statutory limitation? The Balloon payment is roughly 30% of the original loan sum; so you could never achieve 80% during the period. Any advice gratefully received.

[postggj]

Re: Hire Purchase Termination

If The Agrement Is Regulated By The Cc 1974 Then Its The 50% Mark

That Figure Needs To Be SHown On The Agreement Under Termination Rights

A Creditor Can Put What It Likes In The T&c But It Does Not Overide Statute Limitations