Using VT Templates Provided by R0b

[stumcbill]

Hi,

I am just preparing a letter to Audi Finance to initiate a Voluntary Termination using the VT templates by R0b, and I just had a couple of questions.

1. I see the template (page 25) refers to termination of a hire purchase agreement - I’m cancelling a PCP agreement - does this still apply?
2. I don’t see the words “Voluntary Termination” in the letter - I just wanted to make sure this was ok? I don’t want to accidentally do a surrender or something?

Thanks,
Stewart

[stumcbill]

Another question:

1. If I send the letter now, can I state a later date that I'd like the VT to take place - for example 1st August 2021?

[R0b]

Hello

A PCP agreement is in effect a hire purchase just the financials structured in a different way.

Voluntary Termination is not a legal definition under the CCA, it's just a industry phrase to described your right to terminate. The letters make it clear you are terminating under ss 99 and 100 so there is no ambiguity.

You can give notice to terminate at any time, both immediate and in the future as long as it is done before the final payment becomes due.

If you are unsure, I suggest you go back and read the VT Guide as these questions are already covered.

[stumcbill]

Another question:

1. If I send the letter now, can I state a later date that I'd like the VT to take place - for example 1st August 2021?

Hi R0b,

Thanks very much, I'll go and re-read the guide again, I must have missed these.

Thanks for the help.
Stewart