Originally Posted by
RS Grant
Been a few years since I worked in the motor trade, but IIRC we were told that once the payments had crossed 50% of the initial invoice price the customer could hand the car back and walk away with NO penalties and NO black marks against them/their credit rating, it was called Voluntary Termination.
Cheers,
Grant
Correct. all I will say is if you do VT (voluntary terminate) don't be surprised if you can't finance another car on HP....finance companies don't like being handed cars back as there is usually a loss (I work for a PLC finance house) and when we see that, all we will offer is a lease which they cannot walk away from unless they fully settle.