Advice ref: Voluntary Termination

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vtwin_man
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Advice ref: Voluntary Termination

Post by vtwin_man » Sat Sep 23, 2017 12:05 pm

Hi All

Bit of advice needed.

My wife's Adam is being replaced shortly by a Mini Clubman.
The Adam is worth slightly less than the outstanding finance, but we can vt if necessary. The other option is to pay it off and then sell separately.
Any opinions?
Now, M235i with everything!
Gone E90 330d Msport Saloon. Brilliant car.
Gone, BMW 3 Series Msport Coupe 320i, worst engine ever!
Gone, BMW 130i se Japan Red best car I ever had ...

kylemacca01
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Re: Advice ref: Voluntary Termination

Post by kylemacca01 » Sun Sep 24, 2017 4:33 pm

Realistically how much would you make over the owed amount if you sell privately?

Presumably the likes of Evans Halshaw and WBAC would offer less than outstanding finance?

It's a trade off between the effort it takes to sell and the profit to be made, it's it's not much I personally wouldn't bother and would just VT it.

M-cognito
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Re: Advice ref: Voluntary Termination

Post by M-cognito » Mon Sep 25, 2017 1:34 pm

VT it. Less hassle. It shows on your credit record as a VT however there are no negative effects on your score as you're merely exercising your rights. It's one of the reasons a regulated HP or PCP is more expensive than a lease hire.

The only potential issue (but it's remote) is that that finance house may not offer you finance in the future. It's rare but I've heard it happen before.


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vtwin_man
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Re: Advice ref: Voluntary Termination

Post by vtwin_man » Mon Sep 25, 2017 6:58 pm

Thanks, guys.
Now, M235i with everything!
Gone E90 330d Msport Saloon. Brilliant car.
Gone, BMW 3 Series Msport Coupe 320i, worst engine ever!
Gone, BMW 130i se Japan Red best car I ever had ...

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