Hi everyone.
I've had a car on finance with Advantage Finance for 23 months and today I've sent them (via email) notification of voluntary termination.
I've read lots of forums on here which have been really helpful and I'm confident that I've paid well over the 50% due against the agreement.
I'd just like some assistance in case I have problems with this, knowing what Advantage Finance can be like - hopefully I won't encounter any problems.
I'm going to post the contents of my email to them and their reply as I'd like some opinions if possible - I have a couple of questions around their response specifically.
Many thanks in advance
Stephen
- - - Updated - - -
My email to them:
11th February 2016
Dear Sir/Madam
VOLUNTARY TERMINATION OF AGREEMENT
Account No: A61945 (Volkswagen Passat / AG58 XXX)
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. You will
understand that the aforementioned section permits the debtor to terminate
the agreement at any time before the last payment is due. There is no
restriction regarding the exercising of this statutory right, particularly
none in respect of any perceived arrears or monies due on termination
I understand that I shall be liable to you for the amount calculated under
the formula in Section 100 of the Consumer Credit Act 1974. Please forward
notice of any sums lawfully due for consideration and payment.
Please send me details of how the vehicle can be returned to you.
You will be aware that statute prevents you from levying a charge for the
recovery of this vehicle; guidelines also state that if you require me to
deliver this vehicle it must be no more than a short (reasonable distance)
from my registered address.
Please confirm receipt of this request by email or post.
Yours faithfully
Stephen Blundell
I've had a car on finance with Advantage Finance for 23 months and today I've sent them (via email) notification of voluntary termination.
I've read lots of forums on here which have been really helpful and I'm confident that I've paid well over the 50% due against the agreement.
I'd just like some assistance in case I have problems with this, knowing what Advantage Finance can be like - hopefully I won't encounter any problems.
I'm going to post the contents of my email to them and their reply as I'd like some opinions if possible - I have a couple of questions around their response specifically.
Many thanks in advance
Stephen
- - - Updated - - -
My email to them:
11th February 2016
Dear Sir/Madam
VOLUNTARY TERMINATION OF AGREEMENT
Account No: A61945 (Volkswagen Passat / AG58 XXX)
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. You will
understand that the aforementioned section permits the debtor to terminate
the agreement at any time before the last payment is due. There is no
restriction regarding the exercising of this statutory right, particularly
none in respect of any perceived arrears or monies due on termination
I understand that I shall be liable to you for the amount calculated under
the formula in Section 100 of the Consumer Credit Act 1974. Please forward
notice of any sums lawfully due for consideration and payment.
Please send me details of how the vehicle can be returned to you.
You will be aware that statute prevents you from levying a charge for the
recovery of this vehicle; guidelines also state that if you require me to
deliver this vehicle it must be no more than a short (reasonable distance)
from my registered address.
Please confirm receipt of this request by email or post.
Yours faithfully
Stephen Blundell
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