car loan

[balihai]

Due to a severe change in circumstances we are no longer able to make payments on our car loan which is half way through. It is one with a large final payment due at the end if you want to retain the car. Can someone please give me some advice on what to do?

[seduraed]

Re: car loan

Don't panic, there will be people along shortly. If it is a hire purchase agreement then provided the vehicle is in in reasonable condition you can voluntary terminate the agreement. There should be a section in the small print saying termination your rights. That will give the fifty percent figure.
Until the voluntary termination completed you will need to keep the car taxed,and MOT'd.