Wow! That sounds like a great deal! Here's hoping my discussions tomorrow go as well!

Could that be light at the end of the tunnel?

 

neilb,

speaking to my mate later so i will get back to you. from what i remember it doesnt effect your credit rating at all, if it did there would be no way my mate would consider it.

 

Thanks Darlo, much appreciated.

 

A useful discussion all round. Good luck m8

 

well i have just spoken to my mate, dont know if i am more confused now, than i was before!

basically, you can only hand it back half way through the agreement with a hire purchase plan (and thats not a rule, it may only apply to some). doing this can also effect your credit rating, as its a 'deferred' payment. would be worth checking the agreement's small print. but given the effect it MAY have on you credit rating i would try other means, and consider this as a last resort.

hope that is of some help.

 

Good luck! Oh, I also acted as if I was indifferent to the whole thing and was quite prepared to go elsewhere etc. I was quite clear about what I wanted and was ultra polite but firm. I kept the big grin until I drove the new one away!

 

Thanks for the tip. Oh and thanks to Darlo for clarifying too.

This has been really useful for me. I'll let you all know how I get on tomorrow.

 

no worries mate, hope you get it sorted

 

It can impact your credit rating, but only if you let it. After settlement (termination) i simply got my credit report from experian, noted that it had been recorded as deferred payment and called the finance co. in question. I explained the situation, they ammended their records and my credit record went back to its unblemished state

btw, the comment re: HP is correct IIRC

Good luck
Ian