Deceased Husbands Debts - Car Finance shortfall

[Guest]

Re: Deceased Husbands Debts - Car Finance shortfall

Do you have the agreement.

how much were the repayments ?

How many have you made

How much was your deposit

Is there any arrears

How many payments should there be in total and how much is the last balloon payment.

What is the total amount due under the contract. (total to be paid)

What is the stated APR in the contract

If you give me these figures I can tell you how much you would have to find if you voluntarily terminated the car, if you VT the car it does not matter how much it is worth, you just have to pay one half of the total credit price, then you hand it back, if you do not have the money you hand it back and they bill you for the difference, you do not have to pay the difference before you hand it back.

If the take the car back on a voluntary surrender however, they auction the car and knock it off the total credit price, subtract a little of the interest which you would have paid and bill you for the difference.

So which is the best option depends on the figures mentioned.

[Racy Tracy]

Re: Deceased Husbands Debts - Car Finance shortfall

to Andy 58, thankyou so so much for your help with this.....i have tried to give you all the information you ask for below:-

1, I do have the agreement

2, The repayments were £260.10 per month

3, The first payment was £410.10 made on the 4/03/2013

4, £260.10 was paid every month after that, the final payment went out on the 4/4/14.

5, The deposit was £200.00

6, There are no arrears

7, The total amount of payments should be 47 after the initial first payment of £410.10.

8, The balloon payment is £4,950.00 (thats the figure that will be left after all payments have been made)

9, The total amount due under contract is £13,144.00 (thats what it says on the agreement under Amount of Credit, so think thats right)

10, The stated apr is 6.00% per annum....(again this is what it says under Interest rate applicable).

Hope ive given you all the information you need to help me with this, again can I take this opportunity to thank you so so much for your help