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I received my settlement figure on my car yesterday of £8194, I then spoke to a couple of car dealerships who valued my car at between £6800 to £7000, therefore leaving me in negative equity. I am 31 months into a 48 month PCP and was advised to contact my finance company to request Voluntary Termination. My financial situation has changed massively over the last year having lost my job and my partner leaving me. This has left me in a bit of a financial hole. I am unclear how the VT works as after having read about it there seems to be something about having to pay half of the outstanding amount? Im a little confused with this and to how much it would be. Any advice on what to do and how to go about things would be greatly appreciated.
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Hi,
There is a link to a VT guide below, I suggest you give it a good read before deciding.
A Guide to Voluntary Termination - Your RightsIf 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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