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Hi I'm after advice about my car. I got the car in April 2014, and took out a loan for the car with Advantage Finance for 60 months. Sadly I have a poor credit history so didn't have many options and despite only needing £9,999 finance my total loan was £19,748 (scandalous I know and I wish I'd followed my gut feeling and walked away!)
Back in August last year I got a settlement figure from Advantage which was still a whopping £9,259 which I couldn't afford to simply pay off. I asked if I could just give the car back but was told that if I did that I would still have to pay the amount plus a penalty! Needless to say I still have the car and the massive monthly payment! So now it's January and I really need to get rid of my car. I have read up about 'voluntary termination' and am wondering if I could do this? I realise I need to get an up to date settlement figure and that I need to have paid off more than half of the original finance, so can I just ask them to come and pick the car up?
Many thanks for any advice
:beagle:
Back in August last year I got a settlement figure from Advantage which was still a whopping £9,259 which I couldn't afford to simply pay off. I asked if I could just give the car back but was told that if I did that I would still have to pay the amount plus a penalty! Needless to say I still have the car and the massive monthly payment! So now it's January and I really need to get rid of my car. I have read up about 'voluntary termination' and am wondering if I could do this? I realise I need to get an up to date settlement figure and that I need to have paid off more than half of the original finance, so can I just ask them to come and pick the car up?
Many thanks for any advice
:beagle:
