Cancelling car finance...

[richierich222]

Hi All,

I posted before to say that I bought a mk4 gttdi that was dead (i didnt know), the dealership paid for it to get fixed but last night it went again...I am not a mechanic but it seems the engine mountings have snapped and a few other bits and bobs. it is going to cost another £600 - £1000 to fix but I would have to pay and this car has been nothing but problems. I have owned it for 3 months and have only actually driven it for 2 weeks been in the garage for the rest of the time !!!

My question is... Can I ring up the finance company and try to cancel the agreement? Can I even do this....?

One of my mates reckons that if the finance company tell me to get lost I can get a laywer to sue the finance company???

Any help would be appreciated. I need this issue dealt with quick, need a car for my work

Rich

[dansansome]

time to get out your magnifying glass and read the policy smallprint/Ts & Cs.

more likely is that you will have to take this issue up with the garage, they will probably be the ones to get the finance settled if they agree to take the car back etc.

good luck, sounds like you are going to have some "fun" with this.

[sgx]

Hi Rich,

You should be able to et out of this, as with most insurance contracts.
They will charge you a % of the total amount outstanding in the contract as a penalty, but as noted above / in the last reply, the info should be in the 'super small print' of your contract...

They might hit you with an 'admin' fee that amounts to 100 odd quid for simply sending you a letter too...

Still, better than paying the whole thing eh?

[FLENG2008]

i would try and take it back from where you got it from

[richierich222]

Hi all,

Good news! I rang the finance company and they said that they are going to cancel the agreement at NO FEE and that if I want they will let me purchase another car from where I like on the agreement. I test drove a golf 1.8 GT today they are well nice

Thanks for your replies