Voluntary termination

Who can voluntary terminate 

You have a legal right to Voluntary Termination (VT) as your agreement’s regulated by the Consumer Credit Act 1974, unless you’re an LLP or Limited Company.

You can VT at any point before your agreement ends and return the vehicle to us, but you may need to pay to VT.

The amount you've already paid on your agreement will decide whether you have anything left to pay.  If you took out extras like insurance products, you’ll need to pay these in full. 
 

How to VT

You can view your voluntary termination figure online and request a VT form.  We’ll send it to your digital inbox and send you a copy in the post.

Log in to your online account, or set up an online account if you haven't already,  and on your dashboard, under 'My agreement' select 'View details' and you can see your VT figure under 'Agreement information'. 

If you want to VT, you can request the VT pack by selcting 'End your agreement early' and select 'Voluntary termination'. 

The letter will tell you what you need to pay to VT and how we worked it out. If you want to go ahead, you must sign the VT form. You can either email it or post it back to us. Keep paying your monthly payments.

If you’ve changed your mind and haven’t returned the VT form, you don't need to do anything - just keep paying your monthly payments.  

Once we have your signed VT form, we'll ask British Car Auctions Logistics (BCA), or one of our other external agents, to call or text you to arrange collection of your vehicle.  And, we won’t take anymore monthly payments.

Find out more about the collection process 

If you have an outstanding balance, you’ll have 30 days to pay it. You can do this by logging in to your online account and selecting payments. We don’t take credit cards, you can pay with a debit card. Find out how to make a payment.  

We’ll sell your vehicle at auction. This can take a few weeks so it might take a while to close your account. 

We’ll write to you and tell you your account is closed and let credit reference agencies know so they can update your credit file. 
 

If you can’t pay the balance 

If you can’t pay the balance within 30 days, we'll register a default with credit reference agents. This could affect your credit score, making it more difficult or more expensive for you to borrow in the future.  

If you think you’ll find paying your balance within 30 days difficult or you can’t pay, please call us on 0800 151 2454 as soon as possible.