How much toI give my car back to Renault

[Levo]

Bought car on the Selections finance (£200 deposit, 3 years payments, with 2.5k final payment or give car back). I am 2 years, 1 month into it and Im bored - dont really want to keep the car till next Dec.

If I choose to give it back now will I be stung with a big give it back early bill?

 

[TheRoninV6]

best bet is to ring them mate, they will tell you exactly how much you owe, but maybe you would be better of trading it in now for something else a nice 182 maybe????

 

[dimmadave]

Trading in is better,my boss is in the same boat with a megane scenic,but they aint interested in takin it back unless he trades for another car.

 

[Chili Red]

I doubt youd be able to trade it in because there wont be enough equity in it. Check your agreement from Renault and there should be a paragraph about ending the agreement early. Or just ring and ask!

 

[lawrence]

if you check your finance agreement, it would say that any outstanding payments ie if youve paid less than half the price of the car they are well within their rights to ask for half of the finance plus the car so long as the car is in as new or more than satisfactory state, if youve paid more than half then they can refuse and take you to court

 

[edde]

Youv got to pay 11 month finacne then £2.5k to buy the car as such (will be a little different since you have a paperwork bill to pay but that might be knocked of since your not paying any more interest).

So you owe £4.7k on the car. Id assume the cars worth about that much so your looking at possibly walking away from the deal. Talk to Renault finacne they may just give you the paperwork to fill in and you drop the keys of at Renault and they accept it back and you walk away/ drive away in a new car.

 

[Levo]

Cheers everyone, will dig out my paperwork tomorrow and have a good read, then will ring them. Hopefully I wont owe them too much.

Thanks,
Mike.

 

[iceblue182]

nothing 2/3rds rule give it back and walk away

 

[daz182]

You will have to pay RFS the diiference on what you owe(i Had to this do get out of my finance deal last March) Once you give them the money they will send someone round to pick up the car.