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VT with RCI Finance - Nissan

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  • VT with RCI Finance - Nissan

    Hi - First of all can I extend many thanks for anyone who reads and responds to this post, I really am grateful.

    My wife and I own a Nissan Qashqai which was purchased new under a PCP agreement and due to reach its 4 year conclusion December of this year.

    We have now paid over 50% of the total amount loaned and intend to hand the car back under the VT procedure.

    There is one small dent and some minor scratches to the car which are being repaired (at the time of writing) in advance of returning it.

    Also, 3 of the 4 diamond cut alloy wheels are showing signs of corrosion, 2 of them can be blamed on scratching to the alloy, which we are also having repaired prior to VT however the 3rd appears to be without cause and most likely a manufacturing fault so I am reluctant to pay for that to be repaired.

    We have gone over the agreed mileage by 7-8k however my understanding of this was the mileage arrangement was in relation to the trade-in value at the conclusion of the PCP and not so much in relation to the VT aspect, however I am keen to learn if this is correct.

    The car is in my wife's name and last week she contacted RCI to enquire about VT. She was given some instruction with regard how to do this and they proposed, at the point she decided to begin the VT process, that they would conduct a telephone questionnaire with her where they would, as I understand, enquire as to the condition of the car and its mileage. They then said they would put together a document drawn up from her answers to said questions for her to sign and return. I understand they would then close the account (direct debits) and arrange collection of the vehicle.

    My concern at this stage, prior to her embarking upon the questionnaire is that her answers could be legally binding and ultimately harmful to our position so therefore curious as to how we should approach this.

    We have owned the vehicle for nearly 4 years, we have had it serviced as required and barring the small items of damage as described and unfortunate higher mileage we have otherwise taken good care of it. I feel we have been let down slightly by the selling garage given the car is now in considerable negative equity given it is a diesel and the slightly excess mileage, hence our desire to make best use of the VT process.

    I am not seeking to escape realistic charges, in fact the cost of repairs described above are likely to be somewhere close to £500 however I would like to be in a position to walk away from the car and current deal which we feel is somewhat an uncomfortable and unwelcome weight around our necks, the PCP deal seems to have fallen short of what we expected (even taking mileage into account). In fact, this is the 3rd vehicle we have taken under PCP and have only seemed to shift the debt from one car onto the other and really want this process to end!

    Should we be given an amount to pay for excess mileage under £500 then, combined with what we have paid for repairs, I would be happy to walk away from the car with the benefit of the experience (never to be repeated).

    Please, therefore, could we be advised how best to proceed with the VT procedure based upon people's knowledge and experience of this. I have spent most of this evening reading various posts on this forum which I have found most helpful however none of which are as recent or similar in circumstance to the position we find ourselves in.

    I have, as it happens, found a cheap replacement vehicle to tide us over whilst we deal with this. I am keen to buy this car and want to put the VT process in motion at the soonest opportunity so as not to pay any more costly monthly payments and get dangerously close to the 4 year conclusion of PCP agreement which I understand would cause further difficulty.

    Again, thankyou to anyone who takes the time to read and respond to this post.

    Best Regards

    Trevor
    Tags: None

  • #2
    R0b

    Hi Rob, I saw you posted helpful information on other posts so thought tagging you in might help

    Comment


    • #3
      Read R0b's signature. I believe it has a link to the VT process. You can also find the recomended VT template on this site.

      Comment


      • #4
        Ok will do thanks, I was curious specifically regarding the proposed questionnaire amongst other things.

        Comment


        • #5
          Can anyone please advise me on the questionnaire ornhas anyone else had experience with Nissan / RCI they can share with me? Thanks

          Comment


          • #6
            Perhaps you might be missing the point.

            The VT guide explains that you are not required to complete any paperwork or deviate in any way from the legal requirements of exercising your right to VT. The guide doesn't give every answer or query that someone might have and but it is sufficiently worded and sometimes you might have to read between the lines to get your answer though it really shouldn't be difficult to work out.

            Just to be clear, going through the questionnaire does not exercise your VT rights but it may allow RCI to invoice you for excess mileage and, because the invoice came about before the termination took place, it is certainly arguable that you are liable to pay for those charges and anything else invoiced before termination.

            I'm sure you will appreciate that people on this forum ask the same question every day but worded in a different way. It doesn't matter how it's worded or what you've been told you must do, you only have to do one thing to terminate the agreement. The contractual terms do not override the legislation if there is a conflict between them as the legislation will always prevail.

            If you are still unsure then I suggest you go back to the VT guide and re-read the part where I mention the law around voluntary termination.
            Check out some useful guides below

            A guide to voluntary termination
            Seting aside a CCJ
            Completing an N180 Form (Courtesy of Jaguarsuk)

            - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
            LEGAL DISCLAIMER
            Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Some of the content I post may include example wording, letters, or other similar responses but they are intended purely for informational and educational purposes. Using some or all of the content I post may fail to meet your needs that is specific to your situation. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice and you can do this through the Law Society's Find a Solicitor database, by contacting your local Citizen's Advice Bureau or legal advice centres such as LawWorks. You may also be able to seek legal advice from your local university who may run a free (but limited) legal advice clinic to members of the public.

            Comment


            • #7
              Hi - thatís all understood thanks. I had trawled the forum looking for similar circumstances but couldnít find any. Your response has now cleared that up. Thanks again.

              Comment


              • #8
                Hi, me again.

                We sent RCI an email and received the below response. We have also sent them a letter identical to the email with a signature on it. I'm seeking advice now regarding contacting them via phone and how best to proceed please, also the last bit on their email is slightly confusing.

                R0b

                As previous, all help appreciated.....





                Good Morning,



                Thank you for your email.



                In order to go through with the Voluntary Termination process, we would require that you contact our End of Agreement team on 0330 331 0228. Their Lines are open 9:00 AM - 5:30 PM, Monday - Friday.



                Alternatively you can send in a letter declaring your wish to Voluntary terminate featuring a hand signature.



                I also refer you to subsection 2 of section 99 of the CCA, which states:



                '(2)Termination of an agreement under subsection (1) does not affect any liability under the

                agreement which has accrued before the termination.'



                As any damage or mileage would have been accrued prior to termination, you will be liable for this.

                Comment


                • #9
                  Any advice before tomorrow please?

                  Comment


                  • #10
                    R0b ?

                    Comment


                    • #11
                      Having to reply tomorrow so any advice appreciated please.

                      Comment


                      • #12
                        Iíve sent this.....
                        Good Morning


                        I sent a signed letter last week which you should receive very soon if not already.

                        As stated I would like to arrange collection of the vehicle at the soonest opportunity.

                        I have cancelled my direct debit arrangement with my bank also.

                        I am happy to be contacted on my mobile number to arrange collection of the vehicle.

                        Comment


                        • #13
                          Sorry, I don't always look on here at weekends.. try to keep away.

                          I suggest you read the link below who is in a similar position to you.

                          https://legalbeagles.info/forums/for...ination-of-pcp
                          Check out some useful guides below

                          A guide to voluntary termination
                          Seting aside a CCJ
                          Completing an N180 Form (Courtesy of Jaguarsuk)

                          - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
                          LEGAL DISCLAIMER
                          Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Some of the content I post may include example wording, letters, or other similar responses but they are intended purely for informational and educational purposes. Using some or all of the content I post may fail to meet your needs that is specific to your situation. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice and you can do this through the Law Society's Find a Solicitor database, by contacting your local Citizen's Advice Bureau or legal advice centres such as LawWorks. You may also be able to seek legal advice from your local university who may run a free (but limited) legal advice clinic to members of the public.

                          Comment


                          • #14
                            Hi R0b

                            I appreciate your time and advice, its very helpful.

                            I've read the other thread and seem to be embarking upon a similar journey myself.

                            In my instance, I sent them a signed letter as well as an email, and cancelled out direct debit.

                            We have invited RCI to call us to discuss collection of the vehicle though will resist any 'questionnaire' requests and ask for all future correspondence to be done via email.

                            I will no doubt be back on here seeking further advice....

                            Thanks again.

                            Comment


                            • #15
                              Good Evening

                              We have begun the VT process now. We emailed RCI informing them of our desire to do this and they advised we had to post them a signed letter. We did this and sent it to the address for the company as per Google.

                              We chased up the letter via email only to find we had to post it to a different address altogether, which we did.

                              This process took around one week. We immediately cancelled our Direct Debit though RCI now claim because our second letter wasn't received until after the next Direct Debit due date that we owed them that payment.

                              Their email also has a 'return slip' attached which asks us to declare mileage and sign it.

                              Can I assume, having read similar advice to other people in my position, that so long as I have informed RCI in writing, then the email should suffice with regard cancelling my Direct Debit and beginning the process? I feel its wrong of them to acknowledge the email though hold us to account with regard the date they received the letter in relation to the latest Direct Debit payment.

                              Also, can I please assume I am best not declaring mileage and signing that slip?

                              Interestingly, we borrowed £24,705 and have paid to date £13,200 - a good amount over the required 50%

                              Thanks for any help in advance.

                              R0b any advice please? I'm hoping to email my response tomorrow outlining the above. Thanks.

                              Comment

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