Started VT process with advantage finance

[monty251]

Thanks to R0b*who pointed me in the right direction to the VT guide. I've downloaded the guide and have all the template letter at the ready.

Last night I started the process by sending the initial letter via email. I have attached this below (I've "X"'d out some of the personal details and figures):

Dear Sir or Madam,


Termination of hire-purchase agreement in accordance with section 99(1) of the Consumer Credit Act 1974 (“CCA 1974”)

*

• Goods details: AUDI XX XXX XXXXXXX
• Agreement number: XXXXXXX
• Agreement duration: 54 months
• Credit provided: £12,8XX.XX
• Contractual monthly payment: £2XX.XX

I am writing to inform you that I am exercising my right to terminate the above hire-purchase agreement with immediate effect in accordance with Section 99 of the CCA 1974. Under Section 100(1) of the CCA 1974, my liability is limited to one-half of the total price payable which, according to the terms of this agreement, is £6,XXX.XX with the total price payable being £12,8XX.XX. As at today’s date, I have paid £8,XXX.XX (6X.75% of the total price payable) and I am therefore no longer required to make any further payments.

I would appreciate if you could contact me on XXXXXXXXXX or via email to this address within the next 14 days to discuss the next steps.

Yours faithfully,
XXXXXX XXXXXXXXX

Next day now, no acknowledgement or response as of yet. Just wondering at this stage, am I free to go ahead and cancel the DD? I read in the guide to do so in good time to prevent being liable for payments if you leave it too late, hence the "immediate effect" in the email.

I will keep this thread up to date.

[monty251]

Just an update on this.

I received acknowledgement from Advantage finance and confirmation that my charges are £0. I also received a letter explaining a collection fee of £80. To which i used R0b*'s template letter from the VT guide to dispute this and they've just confirmed that the car will be collected from my address free of charge. So, so far it's a big win for me.

The only thing i'm worried about is the damage and condition report. I do have a dent in the front drive side wing which may be deemed unreasonable (result of someone reversing into it).*

[R0b]

So far so good, charges are always hotly contested and if the damage is there but you didn't get it fixed then I can't see why they can't chase you for it. There may be an argument that you shouldn't be liable to pay for someone else causing the damage but I guess that's up to you to prove.

However, nothing stopping you from refuting any claims for damage and see where they go.

[monty251]

Thanks R0b*. So far so good. The car was collected on Monday morning @ 9.00AM free of charge. Damage report filled out and the car was deemed in "Average" condition for all aspects - one down from "Excellent". No fee or charges presented to me on the day, and I didn't sign anything.