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Black Horse Voluntary Termination
I had a PCP with Black Horse and wanted to Voluntary Terminate my agreement at the point of paying half the total amount payable. Price of goods £54,835.00, less deposit £10,000, Amount of credit £44,835.00, Hire purchase charges £12,844.25, Total repayment**£57,678.25. At this point I calculated the amount where I could VT would be making payments totaling £28,839.13. I have now been informed by Black Horse finance that I should calculate the the midway point including the £10,000 deposit I made, which would add a further 16 monthly payment to when I can actually Voluntary Terminate. Agreement was for 48 months, 47 payment of £597.75 plus 1 option to purchase payment of £29,584.00. IS IT CORRECT THAT THE DEPOSIT PAYED IS ADDED TO THE AMOUNT OF CREDIT?
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Deposit is included as part of total price that's what the law says, and check your agreement it will tell you in the termination statement* what you have to pay to meet the 50% threshold.
A deposit counts towards payments made to reach that threshold.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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