Location: United Kingdom
Hi, not sure if I should post this in here because it’s not really a legal matter but can’t find another group to post. I have just called my finance company about my car. I have recently purchased a car cash and no longer need the finance car. I know about voluntary termination and have rang them regarding this. I have just reached the threshold of 50%, over by about £80 but I’ve missed two payments over the last 3 years and haven’t managed to claw it back. Regardless of my missed payments I am still over the 50% mark. The finance company have turned around and said if I want to voluntarily terminate I owe them £609. This makes no sense to me as my repayments are £156 per month and I am in arrears of £312 and I have reached 50% regardless of missing payments. Even though I have missed payments, I have still paid more than 50% so why should these matter?