VT on HP agreement just 6 months in

[Unregistered]

Hi

Looking for a bit of advice

My circumstances have changed where I have lost my job and can no longer afford the repayments on my car

I am just 6 months into the HP agreement. I looked to sell the car and settle and it's already dived where I'd be down £5,000 or more so wouldn't be able to settle it.

My main question is if I VT on the agreement and they then sell the car. Does this go towards the 50% rule as if so it would clear it even at a valuation lower than the trade price.

Or would I still be liable for another 18 months payments (agreement was over 4 years) + the return the car

Just wanted to clarify my position before I take any action. So far there's no missed payments or any arrears

Any advice would be great

Jake

[Amethyst]

Re: VT on HP agreement just 6 months in

Do you have a copy of your finance agreement first of all. Best to check exactly what you have.

Are there sections on there regarding termination? If so what do they say?

( and no, them selling the car doesn't go towards your 50%)