Voluntary termination of PCP - RCI Finance

[bro99d87]

Good morning all,

I've seen a number of posts explaining my rights in regards to walking away from a PCP Finance deal and will be sending in the recommended letter this week. I require one more payment to bring me to the 50%, should I send a cheque with my termination letter or will they send me a final invoice once terminated?

Thanks

Darren

[bro99d87]

Voluntary termination of PCP - RCI Finance

So after a month of not hearing anything and convincing myself that all was good and no further action required, I have received a letter asking me for £1150 in mileage and £480 in damages. With regards to the damage, I signed on collection the electronic document saying that I disagreed with the assessment as I believed it to be fair wear and tear on a 3 year old car.

I've sent back letter from Legalbeagles saying that I do not agree and await next round.

Hey ho

[JazzJPH]

Voluntary termination of PCP - RCI Finance

So after a month of not hearing anything and convincing myself that all was good and no further action required, I have received a letter asking me for £1150 in mileage and £480 in damages. With regards to the damage, I signed on collection the electronic document saying that I disagreed with the assessment as I believed it to be fair wear and tear on a 3 year old car.

I've sent back letter from Legalbeagles saying that I do not agree and await next round.

Hey ho

Good morning. While browsing the forums here I found the advice was not to sign anything, as it may suggest you're accepting to set the standards set by the finance company, which tend to me more strict than "fair" condition guides such as Cap HPI.

My mileage charges were similar to yours, you must have gone over by quite a lot. from what I have read there's a certain point where it will be seen as unfair trying not to pay the mileage charges. I myself have agreed to pay them. I went over the agreed mileage and I have accepted that I should pay the extra, since I was saving more than that by reducing the monthly payments. That's up to you though. My understanding is that courts will almost certainly rule in favour of the finance company for excess mileage charges.

Personally, I have objected to some refurbishment charges, since the BVRLA standards are so strict in my case. It all depends on what is deemed fair really. Do you have pictures of the "damage" ?

[Irispuce]

Hello,
I made first contact with RCI yesterday regarding my intention to VT. They sent me some paperwork via email, but I do not wish to sign anything. So I was just going to send them the template letter via recorded delivery.
I too am a bit short of the 50%. How did you pay your shortfall?

[Phaeton]

My understanding is that courts will almost certainly rule in favour of the finance company for excess mileage charges.

I am interested as to why you state this, so far it's been untested.

[Kati]

R0b ??