Finance Q&A - Change/Amend Finance

What is a voluntary termination?

 Hi, I was checking my car contract and it mentioned voluntary termination, but I'm unsure what this means exactly? 


Answer from the Stoneacre finance team:

Hi Alan, voluntary termination allows you to end car finance agreement early providing you fulfil certain conditions, such as:

1)     The car doesn't have excessive damage

2)     Paying off at least 50% of the car finance sum including interest and in some cases GMFV. The car is then returned to the dealer.

To start voluntary termination, simply inform your dealer that you no longer want to continue with car finance.

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