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Hi, I have a credit agreement with a well known Car financing group, it has been brokered through my work as an employee car ownership scheme.
My credit period is 18 months and I am about 13 months into this. The mileage allowance is 1,000 per month, currently I am at 19k vs 13k allowed, therefore 6k over the request. the car is a 2018 plate.
I have asked them about a VT scenario, requesting numbers, not committing. This thought is driven by the mileage component.
The credit company have stated:
"Voluntary Termination, this is in Section 99 of the Consumer Credit Act 1974 and is something available to those in Personal Contract Purchase, Conditional Sale or Hire Purchase Agreements, not Credit Sale Agreements"
Is this correct are Credit Sale Agreements excluded from this
The car is in perfect condition and the mileage and condition perfectly reasonable.
My credit period is 18 months and I am about 13 months into this. The mileage allowance is 1,000 per month, currently I am at 19k vs 13k allowed, therefore 6k over the request. the car is a 2018 plate.
I have asked them about a VT scenario, requesting numbers, not committing. This thought is driven by the mileage component.
The credit company have stated:
"Voluntary Termination, this is in Section 99 of the Consumer Credit Act 1974 and is something available to those in Personal Contract Purchase, Conditional Sale or Hire Purchase Agreements, not Credit Sale Agreements"
Is this correct are Credit Sale Agreements excluded from this
The car is in perfect condition and the mileage and condition perfectly reasonable.
