Voluntary Termination

Sc00byd00

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Joined: May 2015

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#1

Voluntary Termination

11th May 2015, 13:08:PM

I vt my car December 2014. I just wandered as I know I have 1 years payment left to pay as I only had car 1 year. If they sell the car on how does that affect the balance I owe. Or does it not

Could someone please advise

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PAWS

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Joined: Feb 2012

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#2

12th May 2015, 10:02:AM

Re: Voluntary Termination

Not sure as I think it would depend on the terms of the contract. Whether it was HP or Lease Hire, if there was a balloon payment due at the end of the agreement etc. I guess it would also depend on the value of the car when you handed it back. I think they will sell the car and you will probably be chased for the difference between what they get for it (less costs of sale) and the outstanding balance on the original finance. I am sure if you post up a bit more info concerning the type of agreement etc. one of the clever bods will be able to advise you.

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