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Hi
I have a friend who wants to voluntary terminate his vehicle as he is now disabled and has a motability car.
A few months into his HP agreement the finance company agreed to loan him an extra £1150 (interest free) on top of his finance as the vehicle needed a new engine.
He has paid well over half the total of the finance including the extra loan.
The finance company have confirmed that the extra repair loan was added to his Car Finance agreement, same agreement number and account etc. He wasn't sent anything to sign, they simply added it on to his current agreement.
Does he have to pay this extra 1100 separate from his agreement or would be included in the half he has already paid?
Total with the repair loan £7101.04
Total paid £4000
Thanks
Jamie
I have a friend who wants to voluntary terminate his vehicle as he is now disabled and has a motability car.
A few months into his HP agreement the finance company agreed to loan him an extra £1150 (interest free) on top of his finance as the vehicle needed a new engine.
He has paid well over half the total of the finance including the extra loan.
The finance company have confirmed that the extra repair loan was added to his Car Finance agreement, same agreement number and account etc. He wasn't sent anything to sign, they simply added it on to his current agreement.
Does he have to pay this extra 1100 separate from his agreement or would be included in the half he has already paid?
Total with the repair loan £7101.04
Total paid £4000
Thanks
Jamie
