Two Conditional Sale Agreements - Same lender - want to VT one of them

[thatdudeinblue]

Hi all,

Great forum, with lots of helpful information. I wonder if you can help as my query can't be answered by a simple google.

I have two cars with separate regulated conditional sale agreements with the same lender for car finance. One of those agreements is new, just 2 months into a 4 year agreement.

The other is 2.5 years into a 4.5 year agreement. I want to VT this agreement. I have paid over half the loan amount outstanding with no arrears/payments all made on time.

As I've paid over half on the agreement I can Voluntarily Terminate with no charges, car is in good condition, serviced, etc i'm legally entitled to end this agreement. Would the lender be unhappy enough with me to do anything about the 'newer' agreement, i.e. would they be able to cancel that one down too, or would it be left running?

Many thanks

[R0b]

Re: Two Conditional Sale Agreements - Same lender - want to VT one of them

Hello

There is no change in the way you VT because you have two agreements with the same lender. You just need to make sure you provide the agreement number and the make and model of the car to spell out which agreement you are going to VT.

They are two separate agreements so they can't terminate the other one because you decided to VT the other, that would be a breach of contract as they operate independently of each other.