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Hi, I would appreciate some advice re terminating a vehicle finance arrangement and returning the car. In February half of the total payments will have been made (36 month contract due to end in September). The paragraph in the finance agreement reads as follows:
"You have a right to end this agreement. To do so, you should write to the person you make payments to. You will then be entitled to the return of the goods and to half the total amount payable under this agreement (gives amount). If you have already paid at least this amount plus any overdue instalments and have taken reasonable care of the goods, you will not have to pay any more."
To me this reads that I would be entitled to half the total payable and to keep the car! Can that be so?
I checked a previous agreement I have had and that says "They will then be entitled to the return of the goods and to half the total amount payable . . ." This is what I would expect, so I am struggling to make sense of my existing contract.
Any advice would be really appreciated.
Martin.
"You have a right to end this agreement. To do so, you should write to the person you make payments to. You will then be entitled to the return of the goods and to half the total amount payable under this agreement (gives amount). If you have already paid at least this amount plus any overdue instalments and have taken reasonable care of the goods, you will not have to pay any more."
To me this reads that I would be entitled to half the total payable and to keep the car! Can that be so?
I checked a previous agreement I have had and that says "They will then be entitled to the return of the goods and to half the total amount payable . . ." This is what I would expect, so I am struggling to make sense of my existing contract.
Any advice would be really appreciated.
Martin.
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