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Barclays Partner Finance fixed sum fixed rate account... Can I VT?

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  • #1

    Barclays Partner Finance fixed sum fixed rate account... Can I VT?

    Hi, I'm in a position where I want to VT my car finance agreement because the car value is well below what's left to pay out and I'm struggling to afford the payments.
    I've been trying to find out if my agreement is suitable to VT or not?
    Its with Barclays Partner Finance and it's a 'fixed sum fixed rate agreement'
    I can't find my original ts&cs but I was led to believe at the time of taking the finance out that it was a fairly standard car finance agreement.
    Any help or advice would be greatly appreciated as I want to get this sorted ASAP and if I'm stuck with the car I need to know.
    Thanks
    James
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  • #2
    Re: Barclays Partner Finance fixed sum fixed rate account... Can I VT?

    Sounds like a fixed sum loan agreement - you cannot VT on those types of agreements as they are essentially a loan agreement the same as what you would get from a bank. The car however, is yours to own and do as you wish.
    If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
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    Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.

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    • #3
      Re: Barclays Partner Finance fixed sum fixed rate account... Can I VT?

      Thanks R0b, although that's not what I really wanted to hear
      I've got a new set of the original agreement being sent out to double check it looks like I'll just have to keep paying out for it then

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