Hello

[jayne.riley1]

Hi my name is Jayne
just joined today and after some advice for my daughter who was made redundant on Friday
She has a car on PCP and needs to VPN it i think that's what its called she has had the car 24months and no default payments any advice would greatful

Regards
Jayne

[Kati]

Re: Hello

tagging [MENTION=71570]R0b[/MENTION] for you

to LB [MENTION=92320]jayne.riley1[/MENTION] xx

[R0b]

Re: Hello

Thanks [MENTION=49370]Kati[/MENTION],

Hi Jayne, has your daughter paid 50% of the total amount payable yet? If not, then she will be liable for some payments.

That does not prevent her from voluntarily terminating the agreement and limiting liability to the remaining balance that makes up the 50% if that will be the case. She can then negotiate with the finance co. to make payments in line with what she can afford and if they refuse then she could make a formal complaint and go down the Ombudsman route which may be the better option because if she fails to pay, then the finance co. could technically take her to court and she will obtain a CCJ against her name.

Who is the finance co. if I may ask?

[jayne.riley1]

Re: Hello

Not sure she went through lookers put £1000 deposit and has paid £265 a month for two years it was based on a 49 month contract with a return or balloon payment don't really understand it if im honest

[jayne.riley1]

Re: Hello

Sorry £234.78 by my calculations she has paid 6,600 and the finance agreement was for £13,661

- - - Updated - - -

Not sure she went through lookers put £1000 deposit and has paid £265 a month for two years it was based on a 49 month contract with a return or balloon payment don't really understand it if im honest