car finance

[kazz65]

gave our car back to the finance company only had it for 11mths could not afford repayments gave it back no courts involed but the company are now asking for 14.834.83 pence off us can they do this

[Mrs_Pegasus]

Do you mean �14,834.83?

[maviscoull]

yes, they probably can. have a look at the small print regarding your rights to terminate agreement. im sure if you have paid more than half you can give car back and walk away.

[kazz65]

can't find anything in the small print for our fiance agreement if we could not afford the car payments how are we gonna manage to pay �14.834.83 is there anybody out there that can help us desperate

[maviscoull]

the agreement wont say anything about you not being able to afford the payments, it will say something to the effect of ' your right to terminate agreement,'
this is what it says on an old agreemnt we had :
termination--your rights;
you have the right to end this agreement. if you wish to do so, you should inform the person authorised to recieve your payments. ******** will then be entitled to the return of the goods and to half the total amount payment under this agreement, that is �********. if you have already paid at least this amount plus any overdue installments you will not have to pay any more, provided you have taken reasonable care of the goods.

so in other words, say your finance total is 10,000 and you have paid 5000, then you can give back car, end of story. if you have not paid at least half then you will be liable for the remainder of the full balance. hope you follow all that !

[black206gti]

yeah they can as u have signed the agreement. u either keep the car till its paid off or after half the total finance figure u have the right to terminate the agreement. the worst is if u have gave them the car back u r going to be payin for a car u dont have and they wont even give u it back as they will sell it to someone else and make even more money of it