Final Option payment

[jackpot]

I have had the car for 2 years 3 months over a 3 year deal.. I would like to give the car back and walk away. How do i go about doing this on a final option payment.

 

[kevindgas]

contact the finance company that takes the payments, ask for a settlement figure

NOT A FORD by any chance?

 

[jackpot]

Do i need a settlement figure? Ihave 3 options.

Pay the guarenteed price at the end and the car is mine outright.
Trade in for a new one.
Give the car back and walk away.

I dont really want ta settlement figure as im not buying it. I want to give it back.

Its a peugeot 307 by the way

 

[big-all]

if you contracted to 3 years you probably still have several monthly payments you cant get out off as thats the contract

but the only people to ask are the ones you have your lease with

 

[kevindgas]

i think you took the term Settlement figure too seriously what i meant was ask the finance arranger if you can pay up etc

 

[garry81]

I had the same thing with my Citroen C4. The consumer credit law says that you can terminate your agreement without any effect on your credit history. I don't know the full in's and out's but if you had a three year deal you can cancel and hand back the car after you have made half of the payments which in this case would be 18 months. Or if it was a two year deal 12 months.

The best was forward is to contact the finance company which for Peugeot and Citroen is usually Banque PSA and ask for a voluntary termination. They will ask for this in writing and you can do this by e-mail. About a week later you will have a call asking when they can pick the car up. Once they have done this you get another letter saying the contract has been closed.

Hope that helps.

Garry