Voluntary Termination car finance

[Guest]

Hello,

I was just after some quick advice, I've read a lot on this subject but I am still unclear on what happens after the car has gone.

for example the agreement is £8000 (value of car and interest,) and ive paid £4000.

do I voluntary terminate and just pay for damages / fixes and then we go on our separate ways.

or do I have to pay the remaining £4000 minus the sale of the car (say car is sold for £1500) leaving me with a bill off £2500 (plus the cost of repairs) to pay. (but on my own terms and whats affordable)

hope you can help.

thanks

Dan

[Amethyst]

If it is an agreement that you can VT ( like PCP or HP ) then it should be that you pay nothing further barring excess mileage, damage etc ( though there are arguments against ). Does your agreement contain the figures for Voluntary Termination ? What kind of agreement is it ?