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Conditional sale agreement

Home Forums Car finance Conditional sale agreement

This topic contains 5 replies, has 2 voices, and was last updated by Stuart Masson Stuart Masson 4 years ago.

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  • #65453 Reply
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    – none –
    Member

    Hi stuart – I’m confused, I have a Hyundai Finance (Santander) Conditional Sale Agreement: Cash Price inc VAT £28,073.88 Advance payment £7,700.88 Amount of credit £20,373.00 Total amount payable £31,338.27 in the Termination your rights it states ” return the goods and to half the total amount payable under this agreement, that is £15,669.14. When I divide the monthly £350.24 into the half total amount of £15,669.14 = 45 months. Therefore and as my agreement is for 37 months I would not pay half the amount and therefore cannot VT this agreement? What am I missing here? Cheers M1010

  • #65457 Reply
    Stuart Masson
    Stuart Masson
    Keymaster

    Do you have a balloon/GMFV on your agreement? This needs to be taken into consideration.

  • #65460 Reply
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    – none –
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    I have a final payment of £10k if I want to keep the car or I can walk away?

    • #65461 Reply
      Stuart Masson
      Stuart Masson
      Keymaster

      At the end of the agreement, and assuming you have met all of the terms and conditions of the agreement (mileage, servicing, condition), then you can return the car with nothing further to pay.

  • #65462 Reply
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    Can I do a VT on this type of contract?

    • #65466 Reply
      Stuart Masson
      Stuart Masson
      Keymaster

      Check your contract – if you are able to VT the car, there will be a clause about VT.

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