Anybody any experience? RCI Voluntary Termination of PCP (Selections)

[tommylad]

Hi there, I have read a lot of the forum threads about conducting a VT with many finance firms such as Black Horse and GMAC, however I will be doing mine in a week's time with Renault (RCI) once my new car arrives.

Has anyone got any experience conducting a VT with RCI? What was it like? How long did it take? What solicitors firm did they use? What were the charges like for wear and tear deemed over and above?

I am 42 months into a 48 month agreement and am now not using the car. I have reached the excess mileage limit and want to be hit by as little charges as possible.

Any input would be most welcome.

Thanks!

[R0b]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Hi Tommy,

If you haven't read already it might be best to take a read of this link -> http://www.legalbeagles.info/forums/...ry-Termination

YOu can't be charged excess mileage if you have VT'd

[tommylad]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Thanks Rob. I have read about it lots, I wanted to know if anybody had dealt with RCI in particular just to see how it went. I have a few bits of paintwork that need touching up so I wanted to know what their charges were like before I get it done myself, if it's worth it.

I go away to Australia for a few weeks in a month's time and need it handled before I go so I'm in a tricky spot, squeezed for time.

Renault advised it should be handled in two weeks. Is this realistic?

[R0b]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Since i've been on here, I haven't come across anyone who has VT'd with RCI. Either way, I think the standard positon is the same for any finance company, and will try it on as best they can to recover as much as is possible. Excess damage is all very much subjective and the car need only be in a reaosnable condition - if we are talking about around a 3 year old car and there is paintwork issues then, its unlikely to be reaosnable wear and tear and so if might be worth a quick touch up rather than a full job. Remember the vehicle need only be returned in a reasonable condition, not perfect or a very high standard.

2 weeks is probably reasonable provided there is not hiccups and you get your notice in asap. The only hiccups I can see is they don't accept your VT notice or refuse to collect unless you pay collection fees. There is of course ways around that but they will probably put you in contact with an agent of theirs to confirm a date for collection.

[tommylad]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Yes I have got a mobile repairer in to polish the scuffs and one big scratch. Do you think once the VT has gone through they would be in a position to wait for me to deliver it to them?

Worse case scenario is it's not sorted by the time I go away and they have to wait three weeks to get the car back. Or I send the letter just before I go away and sort it on return?

From your experience does everything happen quiet quickly or can it be a long drawn out process?

[R0b]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Hi Tommy,

I think they would wait if you notify them of the reason, if they dont then they can collect the vehicle at their own expense and you post the keys to them.

Its entirely up to you as to what you wish to do, my experience is that it is a fairly quick process, you could obtain details of their agent and contact them direct to arrange a suitable time as opposed to you waiting for them.

[tommylad]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Thanks Rob. I will get my letter posted today and let you know of the outcome. The forum has been a great help.

[tommylad]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

[MENTION=71570]R0b[/MENTION]

Hi again,

Posted off my letter on the 8th June and received this today from RCI. Something I wasn't expecting was RCI sending me back something to sign to confirm my Voluntary Termination. I had assumed that the letter was the Voluntary Termination they require and that the next thing that I would be hearing from them was to organise collection/delivery, correct?

What do you propose I should do?

The line on the return slip says "I agree that I will settle any charges for collection of the vehicle, damage, missing items and/or excess mileage charges as invoiced by you" and by signing it I am clearly setting myself up to pay.

Do I produce another letter? I have seen someone on here having a similar debate concerning GMAC with some decent lines in it. Or do I phone them? With a phone call there is no hard evidence of the communication and so would it be a he says/she says argument if it ever went that way?

Or am I being too cautious?

Thanks again.

[R0b]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

I would suggest not to sign, your not obliged but entirely up to you, just be prepared if you do they're likely to hound you saying you agreed to the charges.

You can phone them or write to them is your choice. If you want to call you can follow up with a letter/email confirming what was discussed get a name of the person you spoke to.

You can tell them 14 days or you shall cancel tax/insurance and remind them that there is no obligation for you to sign anything especially when it says you agree to make yourself liable for whatever charges.

Essentially they can't hold you to ransom for not signing the paperwork - if they're being awkward you could bring up the aggressive and unfair practices under the consumer protection from unfair trading regulations. Undue influence in causing you to do something you wouldn't normally do

[tommylad]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Thanks as ever [MENTION=71570]R0b[/MENTION] . I will write another letter something along the lines of:

"In my original letter dated 08/06/2016 I exercised the right to voluntarily terminate the agreement. The agreement is therefore voluntarily terminated and I am not legally obliged to sign any further paperwork from you and will not be doing so. I will take reasonable care of the car for 14 days from the date of receipt of my original letter. If you have not contacted me to arrange delivery/collection of the vehicle it shall be signed over to you via the DVLA and moved from my private property to a public highway without tax and insurance. I look forward to hearing from you soon to arrange collection/delivery."

That alright? Going to hard to begin with?

[R0b]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Yep sounds good just be prepared to follow it through, I expect them to say you have an obligation to keep the car taxes and insured until collection but you could remind them that the agreement is terminated and they need to collect within a reasonable amount of time

[tommylad]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Well I have just extended the insurance for another 10 days just to be on the safe side. I will give them a call and quote the expiry date of insurance as the deadline, which is beyond 14 days from when I sent the first letter. We will see what happens tomorrow.

Thanks again [MENTION=71570]R0b[/MENTION].

[tommylad]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

[MENTION=71570]R0b[/MENTION] Good morning,

Called RCI to track progress of the VT. A woman named Nicola told me to resend a copy of my letter as for some reason "it was not on the system yet"... How come they sent me a letter about the VT in return!? I scanned a copy of the signed letter and emailed it to her.

She stated that I could cancel the direct debit after they had called to confirm and arrange inspection/collection which they do free of charge via Manheim auctions. Managed to swerve signing their paperwork for the time being. She assured me that signing their paperwork was not to catch me out but part of the process and I shouldn't be so wary. Judging from other peoples' comments I'm not so sure.

Thanks again!

[R0b]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Just make sure to keep that copy of the letter confirming VT and the information safe. your date of notice will be the time you first sent it. The paperwork is cleverly drafted to make you acknowledge that you will pay any damage to the vehicle on inspection so i would simply say no to signing it

[tommylad]

Re: Anybody any experience? RCI Voluntary Termination of PCP (Selections)

Done, very sad but I have got a folder together for documents and records of names, dates and times. I will carry on documenting the VT process for any further forum readers.

Thanks again