Hi Billyboy1.

Was there an agreement to pay over a certain amount of equity in lieu of your vehicle's value when your trust deed began?

Hi tda thanks for getting back to me,my trust deed company got took over about 6months ago to another one,if i was going to sell it the previous company valued it at £5500,and said they would want the £2500 which ive not got a problem with and the other £3000 left would be mine to buy another moter, but i dont know if the new trust deed company would allow me to do the same , thanks tda

Hi Billyboy1

Yes, I am sure that you have nothing to worry about on that score. What was agreed with you at the outset should be honoured.

Hi kevin thanks cant honestly mind if this was agreed at the start of the trust deed,but i asked the question to my last trust deed company who i will not mention for professional reasons and i still have an email saying thats how it works but i dont know if the new trust deed company would allow me to do the same , think al need to give them a call, i dont want to mention any company's here dont think i need to, but just wondered if they all did the same as i potentially have a buyer for my car ,thanks

As you identified in your first post Billyboy1, it's going to be sensible to contact your trustee and agree a plan of action before you actually sell the car.

Hopefully there will not be any problem with this.

Ok tda thanks very much for your valued advice,thanks.