motonovo voluntary termination

[neojustin]

Hi,

apologies if this has been asked anywhere else.

i am looking to coluntary terminate my agreement tomorrow (22nd) my next months payment is due on 25th. Will i still need to pay this? Or is my call to terminate enough. Im just worried that the day they collect the car is considered the day of termination?

Thanks in advance
chris

[neojustin]

I have seen other threads on this now and looking at them i should be fine to cancel on 22nd and cancel my dd on 25th without fear of them asking for that payment.

thanks

[R0b]

Hello

Anyone who leaves it to the last minute to give notice of termination is taking a risk. Assuming you give notice to terminate with immediate effect then termination will take effect at the point notice is received and you shouldn't be liable to pay the instalment due on 25th.

[MrPnutButter]

I have seen other threads on this now and looking at them i should be fine to cancel on 22nd and cancel my dd on 25th without fear of them asking for that payment.

thanks

Hi R0b

I am in a similar circumstance myself, hoping you might be able to advise on this (happy to raise a new topic if required but this may be an easy answer).

I sent an email and letter on 14/05/19 to PSA Finance notifying that I was VTing, using your template. Due to PSA requesting I complete their paperwork and also questioning the figures (for some reason PSA are claiming I owe another month's payment to reach 50% but that is another matter) we've not gotten any further than that, despite my repeated requests for clarification and urging them to progress this. That's all fine enough, or at least par for the course. I have two issues though:

1. My car insurance has expired today. I pressed PSA a couple of times in the run-up to this, stressing the urgency. I'd hoped to have the car collected by now. I've let the insurance policy roll over, so will be another annual policy. What do you suggest? Am I within rights to cancel and leave the car no longer insured, as it's PSA's responsibility? I don't really want to do this TBH unless absolutely certain. I know there is a 14 day cooling off period I could cancel within or perhaps even cancelling and taking out a month's policy only instead of this drastic step (although in doing so I would be taking on financial costs I should not need to).

2. As PSA are quibbling that I have not paid all that is required (although I believe I have) does this mean that the VT may not actually be valid? And therefore, I will still be responsible for the car until this is resolved?

Thanks in advance for any advice you or others can provide on this

[R0b]

Hi R0b

I am in a similar circumstance myself, hoping you might be able to advise on this (happy to raise a new topic if required but this may be an easy answer).

I sent an email and letter on 14/05/19 to PSA Finance notifying that I was VTing, using your template. Due to PSA requesting I complete their paperwork and also questioning the figures (for some reason PSA are claiming I owe another month's payment to reach 50% but that is another matter) we've not gotten any further than that, despite my repeated requests for clarification and urging them to progress this. That's all fine enough, or at least par for the course. I have two issues though:

1. My car insurance has expired today. I pressed PSA a couple of times in the run-up to this, stressing the urgency. I'd hoped to have the car collected by now. I've let the insurance policy roll over, so will be another annual policy. What do you suggest? Am I within rights to cancel and leave the car no longer insured, as it's PSA's responsibility? I don't really want to do this TBH unless absolutely certain. I know there is a 14 day cooling off period I could cancel within or perhaps even cancelling and taking out a month's policy only instead of this drastic step (although in doing so I would be taking on financial costs I should not need to).

2. As PSA are quibbling that I have not paid all that is required (although I believe I have) does this mean that the VT may not actually be valid? And therefore, I will still be responsible for the car until this is resolved?

Thanks in advance for any advice you or others can provide on this

Best to stat a new thread so nothing is confused with the OP's thread.

[Sohailbhai]

Hi, I have HP car from motonovo finance since 2016. I no longer need the car so went for voluntary termination of the contract. Ive already paid 60% of the total sum. As I have already crossed 50% mark, my question is what happens to the additional 10% ive paid? Is it not going to be used to cover liabilities? Thank you

[R0b]

Nothing, they get to keep the money it doesnt get returned to you.