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My client's company bought a new electric car under a hire purchase agreement & FYA was claimed. 

Half way thourgh the agreement the car broke down with a serious engine issue and it could not be repaired. The saloon called the car back and they offered a new car to my client for the value of the current car. New agreement will be signed soon. Can FYA be claimed on the new car? Is there any issue here I have to be aware of? 

thank you


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By meadowsaw227
30th Jun 2022 10:50

Presumably as you will end up with only one car you will have full sale proceeds on the car going back to offset any FYA ?

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Replying to meadowsaw227:
By freshapple
30th Jun 2022 12:08

Hi, yes, there will be only 1 car & will have full sale proceeds offset against FYA.

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