hp agreement

[tmartin75]

I have a car lease hp agreement which is 12 mths into a 60 month agrrement. The value of the car versus the settlement figure is �4000 lower. Can i legally hand the goods back without being blacklisted? At the end of the agrrement i will still owe �12800.

[Oneeyedvic]

You can only hand the car back (Voluntary Termination) when you have paid half the total amount outstanding (including deposit etc). If you look on your agreement, you will find a box which gives you that amount. Calculate how much you have paid each month and add the deposit you paid. Once you have reached this amount, you can VT the car.

Unless you paid a large deposit, I am fairly sure that you wouldn't be near the half way mark yet.

[river]

If I've understood your question right my friend was in exactly the same predicament with Vaxuhall. His car was 2 years old brand new and he still owed �11k on it, he took it back to the garage and they didn't want it back as it was 'to new' for them to sell on!...sounds strange doesn't it?!

So he sold it privately which in theory he should have got enough money to pay vaxuhall back, however because he is an absolute div he only got �7k for it (it was �15 brand nes 2 yrs ago) but he wanted a quick sale!....What I'm trying to say is sell it privately for a sum which is enough to cover the outstanding money (not as my friend chose to do) and pay off the HP agreement. I'm not entirely sure about the whol black list thing but it might be worth speak to a debt advisor at the Citizens Advise Beau (sorry can spell the full word) they will have far more infor for you

Good luck

[river]

O and try to avoid the dealer go privately I think you can advertise in auto trader for about �50 a week

Good luck again