Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

[mrefc]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Hi. About to start a vt with motonovo finance. How picky are the inspections? I have some scratches, chipped alloys and 3 grilles missing from an air vent. Car is 6 years old.

also any tips when dealing with the finance company ? I've read that I shouldn't sign any paperwork they sent out after my initial letter?

thanks

[labman]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

They will try for what they can in all probability. However, fair wear and tear is fine, so it is then you start to discuss. Have you read about getting photos of the damage the day it is collected with that days newspaper as proof of the date? That's a good idea, both inside and outside the car.

In reality, a car of that age is going straight to the auctions, so if they did try and charge you and really pushed the point, just ask where the work was carried out to repair the various pieces of damage, ask for copy invoices of parts and the actual work being done. They won't be able to produce them.

Have you sorted out the delivery / collection of the vehicle as that will need doing as well?

[mrefc]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

They will try for what they can in all probability. However, fair wear and tear is fine, so it is then you start to discuss. Have you read about getting photos of the damage the day it is collected with that days newspaper as proof of the date? That's a good idea, both inside and outside the car.

In reality, a car of that age is going straight to the auctions, so if they did try and charge you and really pushed the point, just ask where the work was carried out to repair the various pieces of damage, ask for copy invoices of parts and the actual work being done. They won't be able to produce them.

Have you sorted out the delivery / collection of the vehicle as that will need doing as well?

letter is going off tomorrow as just ordered my new car for collection in 3 weeks. Using letter from page one.

Do they charge after? How long? And do you have to pay them?nat half way point after nov 11th payment so no worries of extra to pay there.

saw newspaper thing. Very smart idea. I take it its best to clean car inside and out before handing back?

[labman]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

If you used letter from post #3, you will see it states agreement is terminated 14 days from date of letter or something like that (sorry, writing from memory). They will charge you up to that date as the agreement is live; after that they cannot charge you as you have terminated the agreement so there is no agreement in existence against which to charge.

Hope that makes sense. :beagle:

[mrefc]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

If you used letter from post #3, you will see it states agreement is terminated 14 days from date of letter or something like that (sorry, writing from memory). They will charge you up to that date as the agreement is live; after that they cannot charge you as you have terminated the agreement so there is no agreement in existence against which to charge.

Hope that makes sense. :beagle:

think so. But I meant do they charge for the damages after the car is collected? Or after auction etc?

[labman]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

I'm not sure to be honest, but either way you negotiate, and obviously you try to persuade them it was fair wear and tear. If they can't prove they did any repairs, you don't pay as the price would be reflected in the auction.

[mrefc]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

I'm not sure to be honest, but either way you negotiate, and obviously you try to persuade them it was fair wear and tear. If they can't prove they did any repairs, you don't pay as the price would be reflected in the auction.

Thanks. One other thing. They asked if I had the user's manual which I don't as it was never with the car when I purchased it. Are they right to charge me £10 for this?

[labman]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

No, they're not. You should resist every charge now, they usually try to make you pay as much as possible for exercising a contractual right which should cost you nothing. :beagle:

[mrefc]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

No, they're not. You should resist every charge now, they usually try to make you pay as much as possible for exercising a contractual right which should cost you nothing. :beagle:

letter sent recorded delivery today. will let you know what response i get. i've put the 14 days thing in. do they normally leave it this long or will it be quick?

[labman]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

letter sent recorded delivery today. will let you know what response i get. i've put the 14 days thing in. do they normally leave it this long or will it be quick?

I assume you mean this:

"The above agreement will be terminated 14 days from the date of this notice." (if you pay less than £1500 per year on your agreement it has to be one months notice.

The agreement will be terminated 14 days from the date of the notice, so assuming you dated it today, the agreement will terminate on November 19th 2013.

[mrefc]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

so 19th of nov is when they would ask for car back/be collected?

[labman]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Not necessarily. They can expect you to deliver the vehicle back within a 'reasonable' distance. Often they ask people to take it straight to an auction house. More often, there is a delay in the collection of the vehicle, and after termination, you are effectively storing the car for them - you could try charging storage, but I suspect they wouldn't pay.

Either way, you may well end up with the vehicle in your care after the 19th, though obviously you cannot drive it after that date as it is not yours to drive. It's best to get return / collection arrangements in place asap really.

[mrefc]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Not necessarily. They can expect you to deliver the vehicle back within a 'reasonable' distance. Often they ask people to take it straight to an auction house. More often, there is a delay in the collection of the vehicle, and after termination, you are effectively storing the car for them - you could try charging storage, but I suspect they wouldn't pay.

Either way, you may well end up with the vehicle in your care after the 19th, though obviously you cannot drive it after that date as it is not yours to drive. It's best to get return / collection arrangements in place asap really.

you say not mine to drive? but i'd still have to have insurance/tax on it plus the v5 would still be in my name. hopefully it will be sorted before i get my new car as i would have to insure both at the same time, not good

i'm assuming i'll get a letter from them by the end of the week, hopefully explaining what happens next. like i said earlier, reading the posts on here, i should sign no paperwork they send as it is not a requirement of a vt. is this correct?

[labman]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

Yes it is correct. Use your common sense really. You know the date you cease to have an agreement with them. You are entitled to cancel insurance on the vehicle, and when I did this for someone recently with the garage playing silly beggars, I posted off the V5(C) to the DVLA changing ownership to the garage. They weren't happy, but what was my friend supposed to do - it wasn't her car anymore and they were showing no signs of making arrangements to collect it. It would be prudent to sned a letter / email telling them you're cancelling the insurance - why pay for something that isn't yours? Would you pay my car insurance? So why pay theirs?

The issue of the tax disc is similar really, though as with the insurance I would give the garage due notice of removing both, and ensure ownership is changed and you have proof of this. Again, I've helped someone do a VT where the garage ended up being fined for having no road tax on the car. Play fair, given the circumstances, but don't be taken for a mug.

[mrefc]

Re: Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974

so in that case, you are giving the car back to the garage. in my case i am giving the car back to the finance company right?

hopefully i wont have to worry about that and the car is not outside my house on the 19th nov. will post an update when i receive a response from my initial VT letter. if nothing by friday i'll be calling them up