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

[labman]

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

thanks andy, have to wait until monday now anyway.

one question, who are the TS?

That's Trading Standards

andy my concern is that if i cant delay my new car, i will have to pay insurance on two vehicles on top of having them taxed. surely even after the 19th the car is my property? as i still have v5. i cant leave it outside my house untaxed or uninsured?

Send the V5 off to the DVLA and transfer ownership to them. Keep car safe, but transfer insurance to your new car and tell the company their car is now uninsured, you have sent off the V5(C) transferring ownership to them and you can only store it off road until dd/mm/yyyy after which you have to move it onto the public highway unless they come and collect it.

As Andy says, stand firm and stick to your guns.

[mrefc]

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

That's Trading Standards



Send the V5 off to the DVLA and transfer ownership to them. Keep car safe, but transfer insurance to your new car and tell the company their car is now uninsured, you have sent off the V5(C) transferring ownership to them and you can only store it off road until dd/mm/yyyy after which you have to move it onto the public highway unless they come and collect it.

As Andy says, stand firm and stick to your guns.

If they have gone over the date does an inspection still need to be done?

[labman]

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

Probably will do it and try to charge you a fortune for faults which you can't see. This is where you refuse to pay for anything unreasonable (or everything) and ask for invoices and receipts for any work they claim they've had done.

[mrefc]

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

Andy/labman.

I'm after some pointers as to what I need to put in an email to motonovo as today's post has come and nothing with regards to arranging collection of my vehicle. The date of termination in my letter was today. I can put my new car pickup back until Saturday

Thanks in advance

[labman]

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

Dear Sir,

Following the termination of my contract with you regarding vehicle FG 01 TTT, I am writing to inform you that you now need to arrange to collect the aforementioned vehicle.

I will be transferring ownership to you using the slip from the V5(C) which I shall send to the DVLA informing them of the change in Registered Keeper. I will also be transferring the insurance onto my new vehicle, so your vehice, registration number FG 01 TTT will be uninsured by me from dd/mm/yyyy.

I am happy to store the vehicle free of charge until 02/12/2013, after which date you will be charged storage fees of £10 per day. Should you not want to have a contractual duty to pay these storage fees, please let me know either by email or by post before the December 2nd 2013. If you choose to decline the offer to contract, the vehicle will be moved onto the public highway.

I have today taken photographs of both the exterior and interior of the vehicle in the absence of there being any condition report. I will not accept any liability whatsoever for any damage or traffic offences caused to or by this vehicle as from midnight today (18th November 2013). Ownership passes to you, and I can be contacted on 0123 456789 when you want to arrange for collection of the vehicle. Please note if the vehicle is collected in my absence, it may be reported to the police as stolen.

I trust this sets out my position clearly.

Yours faithfully,

YOU



I'll pm Andy to ask him to comment on the above as I've never written one before, so hold fire for a while until he has commented.

[mrefc]

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

Thanks Labman. No response to the email I sent so far so I may have to mail that letter. Their letter tells me manheim will be in touch but gives me their number if I have any questions. Don't see why I should chase but if you believe I should I'll call them and see what's taking so long

[labman]

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

Andy has looked and thinks the letter is OK. It is entirely up to you whether or not you phone. I've expressed my views about talking to them on the phone already. :beagle:

[mrefc]

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

Well surprise surprise. After the email sent above the collection company called. Collecting car next Monday. Let's hope there is not too much chargeable damage. They did ask if it was taxed though. Surely I can take the tax disc off?

Thanks to Andy and David for the help with letter

[katy2]

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

Hello, I have found this thread amazing and so useful but please excuse my simple mindedness. I have just less than 50% left to pay on my car. We now have a company car and have no longer a need for 2 cars (including the company car 3!). So will I have to pay anymore money that is out standing if I want to VT the contract? Also is it easier to phone or just send a letter? I'm not to good at these kind of things want to make sure I don't get ripped off and spend money where don't need to. Can I thank you all in advance.

[mrefc]

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

right, car collected today. picked up 2 scuffed alloys and a dent in tailgate. also finance agreement had wrong mileage on it when i purchased it, so i was told i'd need to pay £1000 for excess mileage!! told the guy the car had 48k when purchased not 26k. noted it all down and i refused to sign. luckily i had original mot cert that states mileage was 48k. waiting to hear from finance co. as i am refusing to pay for the things they found as they were on car when purchased

[Guest]

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

right, car collected today. picked up 2 scuffed alloys and a dent in tailgate. also finance agreement had wrong mileage on it when i purchased it, so i was told i'd need to pay £1000 for excess mileage!! told the guy the car had 48k when purchased not 26k. noted it all down and i refused to sign. luckily i had original mot cert that states mileage was 48k. waiting to hear from finance co. as i am refusing to pay for the things they found as they were on car when purchased

Yes, they will undoubtedly present you with huge bill, hoping that they will have a chance of getting you to pay a proportion of it after offering a generous discount.
If you feel you owe nothing, then that is what you pay. If you have evidence of the cars condition when you bought it there is nothing they can do, the act just says that you have to take reasonable care of the property, not that you must improve it.
Scuffs to bodywork are fair ware and tear. They wanted over 2k on one of mine, I told them to get stuffed, they went away and eventually decided to drop any action as a good will gesture. Par for the course

[BIG VIV]

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

Hi,Folks,
Just an update to my VT with Blackhorse.
The VT date from my letter to BH was 4th NOV and ended 18th NOv.
Today I received a letter back from them along with the form that I refused to sign.
The form basically says that to exercise my right to terminate I must agree to pay another £845.45.under the terms of agreement and payable immediately or by arrangement.It goes on to say about agreeing for payment for collection which I refused to sign when this letter originally came from BH.
I have spoken to BH just now and they are adamant that I am still liable for car because I refused to sign form(which I just received back).
The lady from BH said I must pay £842.45 as it's my GAP ???
I told BH that I am not paying anything else as they have had over half of the loan paid back and that the car is going off the drive today and i'm leaving it on the road.I also told them I have cancelled the insurance(I haven't really)and will take photos with a witness and leave keys in car for them.I left it like that with them and ended my conversation with no resolution.
I have also sent log book back to DVLA last week.
Any help or advice would be greatly appreciated.
Thanks
Big viv

[Guest]

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

Gap is the difference between the actual value of the car and the amount due under the agreement on surrender of the vehicle. You have not voluntarily surrendered your vehicle you have voluntarily terminated it under section 99 of the consumer credit act, GAP is not appropriate or payable.

They seem to be under the impression that you have voluntarily surrendered the vehicle as opposed to VT, as long as you have not missed any payments and you have paid one half of the total amount due under the agreement you owe nothing, even if you did you could still terminate the contract.

I take it you have sent the lelter as prescribed on here and recorded the fact ? If so perhaps you should remind them of the fact, Labman wrote an excellent letter a few posts back that you could adapt for the purpose,

[BIG VIV]

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

Hi andy58,
Yes I printed off the letter from the beginning of this thread.
I just don't know what to do next.
Anyone got any further advice please.
Thanks

[BIG VIV]

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

Hi again andy58,
Just saw the letter from a few posts back.
Will send it off recorded delivery tomorrow.
Thanks