Hire purchase question
Hire purchase question
Author
Discussion

Geffg

Original Poster:

1,347 posts

135 months

Monday 28th March 2016
quotequote all
Hi, I have finance on a car and trying to figure out when I can voluntary terminate it.
I took it out over 60months, car was £13990, paid £990 deposit, so borrowed £13000. Total payable is £15625.
Amount to enable termination is £7812.50, which is half the total.
Question is, does my £990 come off this £7812.50? So making it £6822.50 to be made in payments? Which equates to 28 payments at £243.75.
Thanks.

Eric Mc

125,742 posts

295 months

Tuesday 29th March 2016
quotequote all
You will need to talk to the finance company to see what their terms for early termination are.