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I wrote to my finance company stating I wished to voluntary terminate my agreement and believed I was only a couple hundred away from this threshold based off of my monthly payment and opening balance written on statements and my portal.
the company state I owe above £1000 for the vehicle as the VT threshold only relates to the “goods” this being the vehicle but I must pay what is remaining to the separate balance for the VAPs and negative equity from a previous vehicle - above £3000.
I can appreciate that they are saying in the agreement both are outlined as two separate loans, however I was sold the vehicle with this being altogether as one loan and therefore one monthly payment. I can appreciate what they are alluding to however it seems misleading for me to paying them both under one monthly payment and them both being under one remaining balance in my portal and statements, but I have to pay them both separately when it comes to VTing?
is this correct or do I keep arguing? I’d be able to pay but seems they’re just making their own interpretation of the credit act to suit them?
the company state I owe above £1000 for the vehicle as the VT threshold only relates to the “goods” this being the vehicle but I must pay what is remaining to the separate balance for the VAPs and negative equity from a previous vehicle - above £3000.
I can appreciate that they are saying in the agreement both are outlined as two separate loans, however I was sold the vehicle with this being altogether as one loan and therefore one monthly payment. I can appreciate what they are alluding to however it seems misleading for me to paying them both under one monthly payment and them both being under one remaining balance in my portal and statements, but I have to pay them both separately when it comes to VTing?
is this correct or do I keep arguing? I’d be able to pay but seems they’re just making their own interpretation of the credit act to suit them?