Has anyone got any experiences of terminating a car HP agreement at the half way stage and handing the car back.
I'm particularily interested to find out if it will effect my credit rating.
- posted
18 years ago
Car HP - Voluntary Termination
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- posted
18 years ago
In message , doberman writes
A friend of mine did this without problem. There was a clause in the contract, (which I think is in all/most car HP contracts), which allows you to hand back the car once you have paid half of the payments. Assuming it is done in accordance with the terms of the contract, it's not a credit rating issue.
I am sure that the car must be in good clean condition.
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- posted
18 years ago
Richard Faulkner wrote in news: snipped-for-privacy@estate-1.demon.co.uk:
You didn't ask this question of a broker in London today did you?
Anyway, no it won't affect your credit rating, it's your right under the T&C's of the agreement (set by the Consumer Credit Act) with the finance house to do this without any penalty.