Hello all,
Person A has now paid more than 50% of the total debt owed (including interest and balloon payment).
They have decided they want to pursue a VT.
Vehicle has done 15k miles in 3 years. This is considerably lower than the 32k mileage allowance (at end of 4 years).
Vehicle condition is better than reasonable with some wear and tear. Car will have latest service and first MOT by early April 2019. Car already had two services previous to this one.
The questions around timescale are:
How soon after the VT is served can the DD be cancelled?
Does there have to be a reply/confirmation before the DD can be cancelled?
If so, how long does it usually take for this "Acknowledgement"
Person A is trying to avoid a scenario where they'd end up paying for two cars in the same month.
Person A also can't be without car for work and childcare reasons.
New car could take 3 months to arrive. When would be best to start the process?
Person A has now paid more than 50% of the total debt owed (including interest and balloon payment).
They have decided they want to pursue a VT.
Vehicle has done 15k miles in 3 years. This is considerably lower than the 32k mileage allowance (at end of 4 years).
Vehicle condition is better than reasonable with some wear and tear. Car will have latest service and first MOT by early April 2019. Car already had two services previous to this one.
The questions around timescale are:
How soon after the VT is served can the DD be cancelled?
Does there have to be a reply/confirmation before the DD can be cancelled?
If so, how long does it usually take for this "Acknowledgement"
Person A is trying to avoid a scenario where they'd end up paying for two cars in the same month.
Person A also can't be without car for work and childcare reasons.
New car could take 3 months to arrive. When would be best to start the process?
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