HP Half Rule

[rev87]

Wondering if anyone has any experience with returning a car under this rule:

My agreement is as follows:

5. Cash Price: 17950
6. Less Cash Deposit 3100
8. Credit to be financed 14850
9. Interest Charge 5890
10. Document Fee 63.33
11. Purchase Fee 63.33


12. Total Cost of credit (9+10+11) 6016.66
Total amount payable (8+12) 20866.66
Hire Purchase price (5+12) 23966.66

1/2 Hire purchase price stated in agreement is 11983.33

I have paid 7140 in installments so far

My big question is does the deposit go towards the 1/2 price?? I could afford to make up the €2k difference if this was the case and end the agreement.

Any help appreciated!

Contacted Lombard already but to say they were unhelpful regarding the half rule is an understatement! Maybe the fact the car is only worth 5-6k max doesn't appeal to them

 

[Time]

Contacted Lombard already but to say they were unhelpful regarding the half rule is an understatement! Maybe the fact the car is only worth 5-6k max doesn't appeal to them

Nope and they will put up road blocks everywhere to try and stop you. They may even try and claim it does not apply to you. Whatever you do, do not sign a voluntary surrender form as this will mess your credit rating for at least 5 years.