Santander car loan

[Never-In-Doubt]

Re: Santander car loan

Link 1 at the bottom states "you have no right to cancel this agreement under the cca1974".

However, the cca itself supersedes their terms as to grant credit this way surely it must comply with cca or it's an unregulated product meaning they can't take you to court for a ccj lol. Itd be a civil and expensive case.

Nah, let me look into this tmw. I'll update through the night with the legislation for you.

[The Debt Star]

Re: Santander car loan

here's the CCA and T&C.

Any comment?

http://i822.photobucket.com/albums/z...1/4abb6f9b.jpg
http://i822.photobucket.com/albums/z...0f02b48c-1.jpg
http://i822.photobucket.com/albums/z...1/9966f9ed.jpg
http://i822.photobucket.com/albums/z...1/82c3bcb1.jpg

[The Debt Star]

Re: Santander car loan

Have a mooch here mate: ---> http://www.financingyourcar.org.uk/c...dcarguides.riv

I was sure so long as 50% was paid then you can hand in the keys and the car and walk away....?

the link doesn't really answer the question about whether Sabtander are obliged or can consider taking the car back in full or part repayment.

CCA to follow...

[The Debt Star]

Re: Santander car loan

Its written into the CCA matey.....

ooh thats interesting...is their CCA kosha then?

[Never-In-Doubt]

Re: Santander car loan

Does anyone any experience of this? Does the contract HAVE to stipulate that return of goods is permissible?

Its written into the CCA matey.....

[Never-In-Doubt]

Re: Santander car loan

Have a mooch here mate: ---> http://www.financingyourcar.org.uk/c...dcarguides.riv

I was sure so long as 50% was paid then you can hand in the keys and the car and walk away....?

[The Debt Star]

Re: Santander car loan

The equity in nthe car is less than the finance, by £1.5K & thats the problem I have.

I want to get rid of the car to save money on the finance and insurance. we can get by as a 1 car family.

[jen_br]

Re: Santander car loan

The only way return of goods is permissable is if you get repo'd but your criedt will suffer.

May I ask why you want to end the contract? Do you still need a car? Somtimes dealerships will sell a car for you or buyyour car and clear the finance.

[The Debt Star]

I have a motor loan with Santander. Originally GE money. Used it purchase a car from the car shop in November 2008. its for 5 year term so I'm just under half way through (half way in May).

I want to give them (Santander) the keys and walk away from the loan.

Unfortunately the contract states that I have to pay a cash lump sum if terminating early. There's no mention of any return of goods for termination payment, just cash settlement.

On my wife's car loan with Black Horse it clearly states that she can, if she wants, hand the car over in settlement once half the repayments have been made.

With my motor loan this does not appear to be possible.

Does anyone any experience of this? Does the contract HAVE to stipulate that return of goods is permissible?