VT question about deposit

[Steviec100]

I'm looking at doing a VT on my car, I had offered to just pay the remaining payments and give them the car early but they said the only option was a VT.
The confusion is that it looks like they are including my £1500 deposit as part of the total to pay. Is this right?

Here are my figures:

Amount financed: 16124
Plus:
Deposit: 1500
Credit facility fee: 145
Total interest: 2373.36
Admin fee: 0
Total amout to pay: 20142.36
50% of total to pay: 10071.18
Less
Deposit paid: 1500
Admin fee paid: 145
Total of scheduled payments: 5953.77
Amount due to date: 7598.77
Provisional amount to pay: 2472.41
Amount of arrears due: 0

Thanks in advance.

[R0b]

Re: VT question about deposit

Yes, it is right. The down payment of a deposit just reduces the monthly instalments but when it comes to calculating the total price payable it is included.

[Steviec100]

Re: VT question about deposit

Thanks, and was getting myself very confused, I still don't see why I can't just can't pay the remaining payments of my term and give them the car back early, it works out about £400 cheaper for me and benefits them. Crazy.

[R0b]

Re: VT question about deposit

You can, simply write to them and enclose a cheque for the remaining amount. VT allows you to terminate at anytime before the final payment is due and Termination of the agreement is not dependent upon you paying 50% first