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

[Guest]

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

Oh my god I think I’ve made a big mistake.

I have just returned my car under a VT using the letter on the forst page of this thread.

My contract was with Peugeot finance on a contract that had a mileage agreement of 6,000 per annum!
I have had the car for 34 months and have paid more than half of the finance and so thought I would VT as I have done in the past. Only problem is I have done 79,992 miles in the 34 months and they are claiming mileage costs of 63.441 miles at 0.0425 per mile at a cost of £2,696.26. Only additional cost which I thought was fair was for £62.00 for tone chips on the bonnet and bumper plus 1 wheel trim that was slightly damaged.
This money is being requested by the company that collected the vehicle on behalf of Peugeot called RMS receivables.
The car had a full service history with a Peugeot main dealer and was basically spotless inside and out.

I also noticed in very small writing on the contract it states:- "You have no right to cancel this agreement under the Consumer Credit Act of 1974, the Timeshare Act of 1992 or the Financial Services (Distance marketing) Regulations 2004.

I have VT 2 cars in the past both with mileage agreements that I had exceeded (not by as much as this time) and had only ever had to pay for any minor damage. These were both pre 2007 so was I just lucky or have there been changes to the law.

Sorry this is a bit long and drawn out but just hope that someone can give me some good advice before the bailiffs come knocking.

Thanks

You could challenge thi a being an unfair term( UTCCR 1999), the act only says that reasonable care must be taken of the goods, would 6 k a year qualify ? The usual millage for a vehicle is said to be between 1o and 12 k. They will undoubtedly point out the fact that you contrasted this charge, however, you cannot "contract our" of a provision of statute.

I suspect that a degree of horse trading is required here, they will try and intimidate you but you must stick to your guns at the end of the day they have to get a judge to agree with them before they can do anything.

[Chippers]

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

Hi there,
I voluntarily terminated my Hire Purchase agreement today, after having paid over 50% of the full amount. The finance company were very threatening over the phone, saying that because the vehicle has high mileage, I will have to pay excess mileage and also I will have trouble getting finance in the future. I bought the car with 22k miles three years ago and it has now done 120k.....to cut a long story short, the Vehicle collection agency collected it this morning and it passed a condition report with flying colours (except for a scuff on one alloy wheel).....I paid £50 for the collection and another £45 for the repair to the alloy wheel....however, I wouldn't pay the £9,100 !!!! they want for excess mileage :-( .....they phoned me and said that they will send Bailiffs to my house and put a black mark on my Credit rating in due course.
Please help ........I believed that I returned the car in very good condition (backed up by the report & lots of photos).....can they charge me excess(ive) mileage ???
Thanks,
Chippers

[Guest]

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

Hi there,
I voluntarily terminated my Hire Purchase agreement today, after having paid over 50% of the full amount. The finance company were very threatening over the phone, saying that because the vehicle has high mileage, I will have to pay excess mileage and also I will have trouble getting finance in the future. I bought the car with 22k miles three years ago and it has now done 120k.....to cut a long story short, the Vehicle collection agency collected it this morning and it passed a condition report with flying colours (except for a scuff on one alloy wheel).....I paid £50 for the collection and another £45 for the repair to the alloy wheel....however, I wouldn't pay the £9,100 !!!! they want for excess mileage :-( .....they phoned me and said that they will send Bailiffs to my house and put a black mark on my Credit rating in due course.
Please help ........I believed that I returned the car in very good condition (backed up by the report & lots of photos).....can they charge me excess(ive) mileage ???
Thanks,
Chippers

Who is the creditor ?

Personally I would not have paid any collection fees, but anyway what is done is done.

They cannot send "bailiffs" or anyone else until a judge says you owe them money and the get a judgment against you. They can mark your file saying that you |VT'd the vehicle, but that is not generally regarded as a negative indicator to future creditors.
If you have received a demand for access millage you must contest it.

You want to know the exact section of the contract you signed which authorizes any such charge.

How they have calculated them.

How they justify them in line with the Consumer Credit Act 1974 section 100, which only states that "reasonable care" musty be taken of the goods."

Remind the that section 173 of the same act prevents them from contravening a requirement of the statute by the use of a contractual term, and also that any unfair term can be challenged under the Unfair terms in Consumer Contract 1999 Provisions.

Remind them that recording adverse data on a disputed debt is contrary to ICO guidelines and that any damage to your credit will result in an action being taken against them and will be reported to the relevant authority.

[psycho28sc]

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

hi, all after a bit of advice
i requested a VT on saturday via email (hard copy in post) from Toyota,(using template letter in this thread) as i looking at getting a different car and mine is in -ve equity, they emailed today asking me to sign a form which had info about i would be liable for repairs, damage, service history collection charge etc on it and signing would dig me a massive hole. I promptly sent one back saying i am not signing anything as its my contractual right to VT and i have already signed a contract with them. Heard nothing back from this ... so phoned them this afternoon and the chap said he passed it to his senior manager who wasn't available surprise surprise, turns out that they require a signature to prove who i am, i stated they would get a hard copy in post tomorrow, this shut him up!!! Result!!!!!

My question is, i have a bumper scuff and at least three of the wheels have curb damage, don't really want to get stung for repairs they say they send a 'engineer' out to go over the car and log any damage, do they really or does it just go to auction?? they also stated i can't take it myself to auction as i wont be permitted on the grounds?? think this bit of a white lie to be honest. My contract clearly states "have taken reasonable care of the goods" the car is 2.5 years old and the odd scuff and curbed wheel is to be expected right?

what do you guys think??

[Guest]

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

hi, all after a bit of advice
i requested a VT on saturday via email (hard copy in post) from Toyota,(using template letter in this thread) as i looking at getting a different car and mine is in -ve equity, they emailed today asking me to sign a form which had info about i would be liable for repairs, damage, service history collection charge etc on it and signing would dig me a massive hole. I promptly sent one back saying i am not signing anything as its my contractual right to VT and i have already signed a contract with them. Heard nothing back from this ... so phoned them this afternoon and the chap said he passed it to his senior manager who wasn't available surprise surprise, turns out that they require a signature to prove who i am, i stated they would get a hard copy in post tomorrow, this shut him up!!! Result!!!!!

My question is, i have a bumper scuff and at least three of the wheels have curb damage, don't really want to get stung for repairs they say they send a 'engineer' out to go over the car and log any damage, do they really or does it just go to auction?? they also stated i can't take it myself to auction as i wont be permitted on the grounds?? think this bit of a white lie to be honest. My contract clearly states "have taken reasonable care of the goods" the car is 2.5 years old and the odd scuff and curbed wheel is to be expected right?

what do you guys think??

Yes the CCA just says "reasonable care of goods, "not that they wont send you a bill, they undoubtedly will, you must contest it usually if you stick to your guns they back off.

[psycho28sc]

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

Yes the CCA just says "reasonable care of goods, "not that they wont send you a bill, they undoubtedly will, you must contest it usually if you stick to your guns they back off.

any tips for when they do?? Surely it goes to auction in the state it's in sold as seen,

[ncf355]

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

How about going to a few bodyshops before hand and getting written quotes for the wheels and bumper?

[Guest]

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

any tips for when they do?? Surely it goes to auction in the state it's in sold as seen,

As said earlier in the thread I would evidence the damage by taking lots of pictures, you would expect slight damage due to fair wear and tare depending on the age of the car, you do not have to present the vehicle in showroom condition, also if you bought the car second hand what is to say that some damage was not already theret, they would have to show in the balance of probabilities that it is likely that it was in perfect condition when you bought it, they rarely take the risk of going to court , loosing would be to costly.

[Goaphil]

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

Hi andy58,

With your help and quoting exactly what you stated I got just over a grand of the settlement fee at the first attempt.

Thanks very much for the advice.

Goaphil

[Guest]

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

Hi andy58,

With your help and quoting exactly what you stated I got just over a grand of the settlement fee at the first attempt.

Thanks very much for the advice.

Goaphil

Great and well done

[vanbasten]

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

I sent a letter to VT my HP agreement and have now received correspondence from the Finance Company, detailing the return of vehicle process stating that there will be a cursory inspection when the vehicle is collected to identify any obvious damage followed by a "professional inspection" by an independent 3rd party at the auction house. Then it says "if there is any excess mileage and/or damage deemed above fair wear and tear following the professional inspection their agents will contact me directly".

The car is almost 7 years old.

There is a form requiring my signature to say i wish to go ahead and end my agreement, and that i will be liable for any damage to the vehicle. (No mention on this form of Fair wear and tear.)

Should i sign and return the form or will it affect my VT if i dont?

[Guest]

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

It is upto you, there is no requirement for you to sign anything, VT'ng your vehicle is a statutory right, they cannot refuse to comply because you have not signed their documentation.

Having said that, the implication that you can sign away a statutory right is misplaced, just because there is a term on their letter it does to mean that a requirement of the CCA does not apply. (they cannot over rule the statute).

All that is required under section 100 of the act is that "reasonable care" is taken of the goods.

Your options are that you contact them and tell them that you are not signing anything thank you very much.

You sign it. ( which really makes little difference in the scheme of things.)

you sign it and add(subject to statute) and initial it after the offending section.

[ncf355]

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

I sent a letter to VT my HP agreement and have now received correspondence from the Finance Company, detailing the return of vehicle process stating that there will be a cursory inspection when the vehicle is collected to identify any obvious damage followed by a "professional inspection" by an independent 3rd party at the auction house. Then it says "if there is any excess mileage and/or damage deemed above fair wear and tear following the professional inspection their agents will contact me directly".

The car is almost 7 years old.

There is a form requiring my signature to say i wish to go ahead and end my agreement, and that i will be liable for any damage to the vehicle. (No mention on this form of Fair wear and tear.)

Should i sign and return the form or will it affect my VT if i dont?

Intrigued

Is your mileage significantly into excess?

[vanbasten]

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

Intrigued

Is your mileage significantly into excess?

No, in my terms and conditions of my HP agreement it simply says that i must not allow the mileage of the vehicle exceed 30,000 in any 12 month period. There were 21,000 miles on it when i got it and it has now just turned 53,875 miles 24 months later.

[ncf355]

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

Aha

Well, best of british with it

I think if it was me I'd refuse to sign that just to play it safe - Like Andy states, it wouldnt make a lot of difference but why complicate things?.