Hire Purchase & Deposit if I VT'd

[mkelly21]

Hello, just seeking some clarity on my HP agreement - details of which are below.*

When it comes to Voluntary Termination is the £7500 included as part of the 50%?*

Would the following be correct? £27139.80 / 2 = £13569.90 minus £7500 (deposit) = £6069.90 / £322.29 (monthly amount) = 18.8 months.

Two questions:

Is the deposit included in the 50%

Would I be able to VT after 19 months?*

Thanks Mark
*

Cash price of the Car: £25735.00 Deposit: £7500.00 Amount of Credit: £18235.00 Interest: £1394.80 Purchase Fee: £10.00 Total Charge for Credit (Interest plus Purchase Fee): £1404.80 Repayment Balance: £19639.80 Total Amount Payable: £27139.80 APR: 3.0% Interest Rate: 2.94% per annum Duration: 60 months

*

[R0b]

Hello

Yes to both questions.

[mkelly21]

Thanks Rob, really appreciate your reply.*

[seduraed]

If you have gap insurance, ppi or similar you need to deduct their cost from the amount paid to reach you one third.*