what happens if i dont pay the Optional Final payment at the end of the contract?
2007-07-28 06:29:01 · 7 answers · asked by Anonymous in Cars & Transportation ➔ Other - Cars & Transportation
on the vw website, the package is £99 per month, with the opitional payment of 3k at the end
2007-07-28 06:38:33 · update #1
It's a contract hire deal. You are agreeing to effectively hire the vehicle for the period and rate stated in the agreement. At he end of the contract, you have 3 options:
1) You can buy the car outright by making the final payment.
2) You can swap the car for a new one by taking out a new contract.
3) You can hand the car back and walk away.
Provided you have kept to the terms of the contract (read the small print about mileage limits, servicing etc) then choosing option 3 above will *not* generate any adverse credit scoring - indeed, the credit agreement will actually be marked on your file as settled, which is a *good* thing to have.
2007-07-29 04:15:22 · answer #1 · answered by Stu_H 1 · 0⤊ 0⤋
They could repo the car. After all those other payments, why not just pay the last one and be done with it? It would be easier than going around with the credit people and having them ding your credit score. good luck.
2007-07-28 06:35:31 · answer #2 · answered by Fordman 7 · 0⤊ 0⤋
The option is: you pay the final 3000 and keep the car, or take out another finance with a new car new deal, or give the car back.
2007-07-28 06:42:13 · answer #3 · answered by Anonymous · 1⤊ 0⤋
this could be merely a splash a troublesome question and you will ought to debate this with monetary help officer, because of the fact pupil monetary help is for use for classes, room and board, books and factors, yet then it does say so you might use it for transportation too; in spite of the shown fact that, i've got been informed that paying for a automobile does not count selection on account which you will get a separate automobile loan for that. do not do something before conversing it over with monetary help loan officer, on account which you do not want to get in hassle for fraud in the approach!
2016-09-30 23:19:02 · answer #4 · answered by richberg 4 · 0⤊ 0⤋
if its indeed optional then I wouldn't pay it
but I have never heard of the optional payment
2007-07-28 06:35:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋
REPO!!!! AND GOES ON YOUR CREDIT, REFINANCE THE REMAINING "BALOON" PYMT
2007-07-28 07:39:57 · answer #6 · answered by samercer76 2 · 0⤊ 0⤋
can you say repo
2007-07-28 08:01:07 · answer #7 · answered by dave l 2 · 0⤊ 0⤋