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Hi,
This might be a dumb question, i am considering VT'ing my car. It was set up with 48 months with the Final Payment set. The car is worth approx 2-3,000 less than the outstanding finance.
I have paid the agreement for more than 24 months but the balloon payment means that I'm still where near paying half the borrowing. In fact, given the high "guaranteed future value" set by the dealer at the outset, it is likely that I won't hit the 50% of car value until another 10-12 payments have been made.
Does that mean I'm not going to be able to VT?
thanks
This might be a dumb question, i am considering VT'ing my car. It was set up with 48 months with the Final Payment set. The car is worth approx 2-3,000 less than the outstanding finance.
I have paid the agreement for more than 24 months but the balloon payment means that I'm still where near paying half the borrowing. In fact, given the high "guaranteed future value" set by the dealer at the outset, it is likely that I won't hit the 50% of car value until another 10-12 payments have been made.
Does that mean I'm not going to be able to VT?
thanks
