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post #3 of (permalink) Old 20th April 2006
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If your finance is from RFS (as mine was), then you have basically two options:

1) If you have paid MORE than half of the installments for the car, you can ring Renault up and ask for a "voluntary termination". If they accept, then you'll get a call from some people who will turn up, and inspect your car. Provided it's in good condition for a vehicle of it's age, they take it away, and cancel the finance agreement.

2) If you have paid LESS than half the agreement, ring up RFS and ask for a settlement figure. This will include a penalty for early repayment (and be warned - this may be quite a bit), and you can then write them a cheque for the full amount (plus penalty) and keep the car, or send the car back with a cheque for the penalty figure.

Luckily, I was over halfway when I decided that my time with the Slaguna should come to an end, but if you're not over halfway, I strongly urge you to keep hold of the car until you are - you'll find it could save you thousands.

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