Terminate a hire purchase agreement | Sample letter

Use this letter when you want to terminate a hire-purchase agreement with your creditor. You can find information about how to use this letter in our Hire purchase debt guide.

You can choose to send a letter in your own name or in joint names. You may have a debt in joint names, or want to write to your creditors together because you have worked out a joint budget.

Fill in your contact details, account number and any extra information you want to include in the grey shaded areas.
Today’s date will be added automatically.
Sign each letter and enclose a copy of your budget if needed.

Letter in joint names

You can choose to send a letter in your own name or in joint names. You may have a debt in joint names, or want to write to your creditors together because you have worked out a joint budget.

Change to joint version

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8th October 2024 [today’s date]*

Dear Sir/Madam

Voluntary termination of agreement

Account No:

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Car make/model/registration no:

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I am writing to notify you that I am exercising my right to terminate the above agreement under Section 99 of the Consumer Credit Act 1974.

I understand that I will owe you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974.

Please send me details of how the vehicle can be returned to you.

Please confirm receipt of this request by

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to me on Insert your fax number, email address or postal address. (required)
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Insert your fax number, email address or postal address.
.

I look forward to hearing from you.

Yours faithfully

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Terminate a hire purchase agreement (sole name)

Terminate a hire purchase agreement (sole name)

Letter in joint names