Voluntary termination of car loan

[Zeus3966]

Hi I have been advised that the excess mileage is not a legally enforced requirement when completing a VT on a car loan. I have paid more that 50% of the total amount payable but I am over on the mileage agreement and the contract stipulates charges. Can I advise that I am not legally bound to pay these as part of the process
extract from Car Experts - just checking if still valid.

Thanks :-)

There’s no provision for excess mileage charges in the law, so in theory, you can’t be charged for exceeding your mileage allowance. However, if you exceed the pro-rata mileage allowance, you can expect the finance company to come after you for an excess mileage penalty.

[Zeus3966]

Hi All.........sorry new to the forum world hoping you can help me with my query :-)

[ULA]

Bump

[Huxie]

Have a read of the VT Guide pdf linked to in this post:
https://legalbeagles.info/forums/for...on-your-rights

Hopefully that should answer your query.

[Zeus3966]

Just wanted to thank the team for your help as the advise provided help conclude the situation I had - in my favour - appreciate the help

[ULA]

Glad we could be of help