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Hi. ﾂ*I知 considering voluntary termination of my vehicle up agreement. ﾂ*I知 just loath to if it has a negative impact on my credit score. ﾂ*I understand the finance company I would be surrendering too would not lend to me again, but how would it affect any future purchases, loans , mortgages with other financial institutions. ﾂ* Can anyone help ?ﾂ*
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VT does not affect your credit rating, it's the damages claimed by finance companies that they report as a negative record on your credit file - unlawfully in my opinion but a moot point.
It's not 100% certain the finance company would not lend to you again, it depends on their lending criteria and the same for any other finance company who might offer your credit. Some might increase the interest as they see you as a risk, others might not and offer the advertised rate.If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
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Hi reﾂ*the damages claimed by finance companies that they report as a negative record. ...... can you explain a bit more about this please. ﾂ*ﾂ*Comment
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