How to get out of van finance?

Question

hi i have paid half of my van finance off, i have 24months left, but i cant get out of it, i dont need this van any more, they told me the settlement figure is £4129. i have heard there is a loop hole where they can just come and pick this van up and thats the end of it.

can some one shed some light on this plzzzzzzzzzzzzzzzzzzzzz

Answer 1

If you got it in writing that they'll settle for $4129.00, then you have to sell it for that price in order to get out of it. If it's not in writing, then you have a problem. If they repo it, they'll just sell it at auction and if there's a deficiency balance still owed, you'll have to pay it or other actions may be taken.

Answer 2

You will need to read the small print in your credit agreement to see if you can do this.

Answer 3

stop paying for it they will soon be round for it

Answer 4

You're kidding, right?

You entered a contractual obligation for 24 months. You agreed to this.

Pay the settlement, or continue to lease the van, stop trying to shirk your responsibilities.

Answer 5

With any HP agreement, as soon as you have paid two-thirds back you are entitled to give the property back and owe no more.

Answer 6

Hi Jada,

If memory serves me correct, the rules regarding repossesion on VANS are somewhat different to cars. Read the agreement carefully, it should tell you their reposession rights.