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Good morning and thanks for anyone who reads this,
So I wanted to start the process of handing my car back to the finance company and I was given the below email this morning.
I understand I still need to pay £564.60 to meet my halfway point, how can they justify they charges for anything not done or missing?
I do need a new V5 (£25 from DVLA) and the most current MOT (£10) from the test centre.
However, £300 charge if I've not been properly servicing the car. The car got serviced, all be it by myself every year so there's no stamp in the book.
What could I do here?
Good Morning,
Thank you for contacting our office to enquire about the voluntary termination process.
I have explained the voluntary termination process below, However, you do have the option to part exchange the vehicle or sell the vehicle providing we receive full settlement.
As outlined in your agreement you will be liable to pay upto half of the total repayable amount, If you have already passed your halfway paid mark you will be required to continue making monthly payments until your request to Voluntary Terminate has been received. Any overpayment will be used towards your liability if required.
The remaining liability to reach half of the total repayable amount is £564.60.
Here are a list of our requirements and charges if not present. The charges reflect the loss at auction.
Current MOT certificate - £75 if missing
V5 Registration document (log book) - £235 if missing
Service History Book - £25 if missing
Proof of regular servicing - £300 if not maintained
Master/Spare Key – At BVRLA cost price
Vehicle Manual - £10
Please note, this is also followed by an inspection by one our agents. They will come to inspect/collect the vehicle after arranging the best time and place with you. They will be looking for any damages to the vehicle. For example, any scratches, dents, damages to alloys etc.
If any damage is found, the agent will issue you with a report. You have the opportunity to dispute any damages found, but please be assured this is reviewed by MotoNovo to ensure the inspection is fair. You will only be billed for anything above average wear and tear.
If you do wish to voluntary terminate your vehicle, please confirm either via telephone or send in a signed letter this can be scanned and emailed to us or take a picture and attach to the email. Once it has been received, we will pass this onto the relevant team who will start the Voluntary Termination process. You will then receive written confirmation of this and contact from your collection agents.
If you require any further information or assistance please do not hesitate to contact us.
Kind Regards
So I wanted to start the process of handing my car back to the finance company and I was given the below email this morning.
I understand I still need to pay £564.60 to meet my halfway point, how can they justify they charges for anything not done or missing?
I do need a new V5 (£25 from DVLA) and the most current MOT (£10) from the test centre.
However, £300 charge if I've not been properly servicing the car. The car got serviced, all be it by myself every year so there's no stamp in the book.
What could I do here?
Good Morning,
Thank you for contacting our office to enquire about the voluntary termination process.
I have explained the voluntary termination process below, However, you do have the option to part exchange the vehicle or sell the vehicle providing we receive full settlement.
As outlined in your agreement you will be liable to pay upto half of the total repayable amount, If you have already passed your halfway paid mark you will be required to continue making monthly payments until your request to Voluntary Terminate has been received. Any overpayment will be used towards your liability if required.
The remaining liability to reach half of the total repayable amount is £564.60.
Here are a list of our requirements and charges if not present. The charges reflect the loss at auction.
Current MOT certificate - £75 if missing
V5 Registration document (log book) - £235 if missing
Service History Book - £25 if missing
Proof of regular servicing - £300 if not maintained
Master/Spare Key – At BVRLA cost price
Vehicle Manual - £10
Please note, this is also followed by an inspection by one our agents. They will come to inspect/collect the vehicle after arranging the best time and place with you. They will be looking for any damages to the vehicle. For example, any scratches, dents, damages to alloys etc.
If any damage is found, the agent will issue you with a report. You have the opportunity to dispute any damages found, but please be assured this is reviewed by MotoNovo to ensure the inspection is fair. You will only be billed for anything above average wear and tear.
If you do wish to voluntary terminate your vehicle, please confirm either via telephone or send in a signed letter this can be scanned and emailed to us or take a picture and attach to the email. Once it has been received, we will pass this onto the relevant team who will start the Voluntary Termination process. You will then receive written confirmation of this and contact from your collection agents.
If you require any further information or assistance please do not hesitate to contact us.
Kind Regards
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