Car finance vt

[Paull1972]

Hi I recently sent a letter to my finance company and vt’d My car after exceeding the 50% point they are now trying to charge me £250 to collect the vehicle I have emailed and informed them I am willing to deliver the car within a reasonable distance.
They then replied that they will not start the vt process without payment.
I wrote to them on the 28/12/2017 stating I would be invoking my right to vt the agreement under sec 99 of the cca 1974,so are the finance company allowed to block the vt if I do not pay them £250 and fill out there paperwork

[Kati]

Re: Car finance vt

and another one [MENTION=71570]R0b[/MENTION] xx

[Paull1972]

Re: Car finance vt

Any advice would be appreciated I have no arrears on the account and I have exceeded the 50% point on the agreement

[ostell]

Re: Car finance vt

Not my expertise but I believe the agreement is ended when they receive your letter. You now give them a time to pick up the car after which you will cancel tax and insurance on the car as it is now their property and responsibility. You can then tranfer the V% to them on line.
Wait for Rob though.

[Paull1972]

Re: Car finance vt

I have already given them a collection date and also offered to deliver the car within a reasonable distance but they just keep asking for £250 to collect the car

[R0b]

Re: Car finance vt

Hello,

If the lender is seeking £250 for collecting the car this does not affect termination of the agreement. The effective date of termination ought to be stated in your notice to the lender, so if you told them it would terminate immediately then the agreement will end as soon as they are in receipt of your notice. Once termination takes effect, you are classed as an involuntary bailee and you have a duty to take reasonable care while it is in your possession. If the lender is refusing to collect the car without payment then you can invoke a rule under the Torts (Interference with Goods) Act 1977 which allows you to write to the lender and give them a reasonable time to collect the car otherwise you will dispose of it (usually by auction). The rule affords you a defence of any liability for handling or interfering with the car provided you give sufficient notice and made them aware of the consequences if they don't collect it.

There is a template letter which you can find here but will need to adapt it to suit your current situation (the last one).

http://www.legalbeagles.info/forums/...tter-Templates

Alternatively, others on here have threatened to cancel the insurance/tax and disclaim any liability if they do not collect the car but that is up to you.