Can I cancel VT ?

[Amethyst]

Posting on behalf of new user - basically can a VT notice be cancelled ?

since VT car I decided to cancel it as they wanted £6k to take it to half loan value under PCP agreement- which I am unable to pay. Keep paying my monthly premium, they are telling me this is not going towards the car???? Been visited twice at 7.00am by Burlingtons the "heavy squad" to collect car. We do not want the car to go now. Has anyone got any suggestions please ?

[R0b]

You can cancel a notice of termination provided both parties agree to it, and that agreement has to be made prior to the date of termination. You cannot undo the termination retrospectively nor can you revoke it unilaterally.

If the agreement has already terminated, then I'm not sure this person has much choice but to hand the car back, or perhaps face legal proceedings for the recovery of it and/or compensation in lieu.

You can ask the company if they will accept the same monthly instalments in return for use of the car but they are not obliged to accept and you will owe the £6k outstanding.

I'm afraid this sounds like a scenario where someone has acted first without knowing the consequences and in this type of situation, options are severely restricted.