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What Is Voluntary Termination of Car Finance?

07/03/2016 15:11:21

If you've made all payments on time for your existing car and you're over 50% of the way through the agreement you are well within your rights to hand the car back (depending upon which finance company you have your current loan with and whether you have a hire purchase agreement or a personal loan). 

All you need to do is call your current lender up and say you wish to "VT" your agreement and ask for detailed instructions on how to hand the car back. They may try and make it difficult for you but make sure you persist. I'd also advise to get your car serviced (if required) and make sure the car is in the best possible condition to prevent excess charges from the finance company when you hand the car back