Suspicious about finance company's calculation of half "total amount payable"

[adaw]

@R0b please help!

I'm very confused - I have an HP agreement which I would like to get out of as I've moved and am caning the miles. My fault, I know...
The issue is that the finance company are saying that half the amount payable is £12,993.06 and I can't see how that can be right. I'm exactly 2 years through a 3 year agreement. I've paid £7200 (£300 per month) so they reckon I still have to pay another £6000 ish. That doesn't sound right to me as that would take me well beyond the year I have left!

The cash price was 24,145 inc vat
advance payment 7,500
amount of credit 16645
charge for credit 1841
total amount payable 25,986

half the total amount payable (it says in the section headed "termination") is £12993. Is that right? Shouldn't it take off the £7500 advance payment?

They are also saying I will have to pay off all of an additional insurance plan valued at £1008.

Please advise - many thanks,
Adam

[Amethyst]

Re: Suspicious about finance company's calculation of half "total amount payable"

See http://legalbeagles.info/forums/show...r-the-CCA-1974 ( double posted - should move the rest to here really )