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

[bazzler]

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

Will do, thanks mate

[miliitant]

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

if they start playing hard ball, then i will hit them wiith the required legislation

[labman]

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

Bazzler,

Trust ME here, I have overseen the best part of 50 or 60 VT's now and none have gone wrong. Do not sign anything at all other than a condition report on the vehicle which you MUST get a copy of. You can cancel the Direct Debit now, you have no need to wait at all. The agreement is ended.

Remember to photograph the vehicle at the auction house with a copy of that days paper in every photo so they cannot question the condition or the date - photos of both interior and exterior.

Get them to do the condition report, but refuse to sign it if you disagree with even the slightest thing on it. Write that you disagree with the specified points and have photographic evidence, and date this. Get a copy.

Then walk away - all done and dusted. I know this is asking a bit of a leap of faith, but I've done loads of these through my own consumer charity for people.

[bazzler]

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

Bazzler,

Trust ME here, I have overseen the best part of 50 or 60 VT's now and none have gone wrong. Do not sign anything at all other than a condition report on the vehicle which you MUST get a copy of. You can cancel the Direct Debit now, you have no need to wait at all. The agreement is ended.

Remember to photograph the vehicle at the auction house with a copy of that days paper in every photo so they cannot question the condition or the date - photos of both interior and exterior.

Get them to do the condition report, but refuse to sign it if you disagree with even the slightest thing on it. Write that you disagree with the specified points and have photographic evidence, and date this. Get a copy.

Then walk away - all done and dusted. I know this is asking a bit of a leap of faith, but I've done loads of these through my own consumer charity for people.

Excellent and most appreciated advice from everyone... I will update after my next call to get a drop off date sorted

[bazzler]

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

Oh. My. God. I'm fuming.... will explain later, but their disposal team are unwilling to allow the VT as I do not have a service history on the car due to there not being a service manual when I purchased it

Also, she wanted me to verbally say on a recorded call that I had read and agreed with the new T & C's they have sent out. GRRRRRRRRRRR

She is speaking to a manager about it tomorrow, kept asking who I was getting my advice from and felt like a fool because I couldn't just say some guys on a forum

Never been so angry on a phonecall. She would not move past the fact I would not confirm on the call I had read and was happy with everything on the documents they'd sent.

[miliitant]

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

Not 100%, but i'm fairly sure they can't enforce this, and the car just has to be in reasonable condition for it's age. Finance companies tend to add their own terms but I doubt they can enforce it.

are their any terms on the credit agreement that states the vehicle has to be maintained by a regular service history to terminate the agreement

they cannot make you agree new terms and deny you your rights under the consumer credit act 1974


You have the right to terminate and end your agreement under Section 99 of the Consumer Credit Act 1974 at any time before your last instalment is due, although you will have lost the right to terminate your agreement if the creditor has already terminated it or if the full balance of the agreement has become payable.

If you decide to terminate your agreement voluntarily and hand back the goods to the creditor, you should only have to pay up to half of the total amount payable under the agreement, minus sums that you have paid and sums that are due. Sums that you have paid include any deposit plus the instalments that you have paid: sums due are any arrears/missed payments due at the time of termination.

The one half or 50% figure is stated on the agreement in the box headed "Termination: Your Rights".

You will then also owe any arrears (missed payments) plus damages if you have failed to take reasonable care of the goods (over and above normal wear and tear). The creditor might argue that there will be an extra charge for damage or unusual wear and tear. It is important to look at any charges to see if they are reasonable.

It is very important that you tell your creditor in writing that you are terminating and ending your agreement. If you do not terminate in writing the creditor will not treat it as a voluntary termination and you will not be able to benefit from the 50% limit on your liability. Keep a copy of the letter of termination in case you need proof of this later. which you may want to adapt and to send to your creditor when terminating your agreement.

Warning: You may have a default notice sent to you by the creditor because you are behind with the payments on your agreement. Once the time has run out on the default notice this may mean you will have lost the right to end the agreement voluntarily and return the goods yourself. It depends upon your agreement. Your creditor may have called in or "terminated" the agreement when the default notice runs out. Some agreements say another notice to terminate the agreement has to be sent to you after the default notice has run out. Phone us for advice.

Warning: You do not need to have paid the "50%" to be able to terminate your agreement although some creditors say you do. All that is necessary is for you to give notice to the creditor in writing that you are terminating the agreement.

Also, where an Hire Purchase agreement contains a separate subsidiary agreement for insurance products (e.g. for payment protection insurance and/or a guarantee or warranty), it is not necessary to pay off this agreement before terminating the Hire Purchase agreement.

However, terminating/ending your Hire Purchase agreement does not terminate a subsidiary insurance agreement. You will remain liable to pay it.

Some creditors try to charge you for collecting the goods after the agreement has been terminated. It appears that this is not allowed under the Consumer Credit Act. If asked to pay an additional charge, you can complain to your Trading Standards Department or phone us for advice. Your agreement may say that you have to return the goods to your original supplier or somewhere similar. You should not be asked to return the goods further away than is reasonable on the grounds of cost and distance.


TELL THEM YOU ARE GETTING YOUR ADVICE FROM A GOOD FRIEND WHO IS EMPLOYED BY A NATIONAL TRADE UNION AS A LEGAL AND MEDICAL SECRETARY

[labman]

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

I assumed you'd already VT'd it in writing. If you have, there is nothing they can do. They cannot refuse it. No need to tell them anything.

I dealt with one like this a few weeks back. We ended up taking the car back to the garage, handing the keys in and getting a signed receipt for them. We sent the log book off which annoyed the garage, but not much they could do - it made them the registered keeper whether they liked it or not. That might be worth bearing in mind.

Don't get into legal discussions would be my advice. They are trying it on and hoping you'll swallow it.

[labman]

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

Not 100%, but i'm fairly sure they can't enforce this, and the car just has to be in reasonable condition for it's age. Finance companies tend to add their own terms but I doubt they can enforce it.

TELL THEM YOU ARE GETTING YOUR ADVICE FROM A GOOD FRIEND WHO IS EMPLOYED BY A NATIONAL TRADE UNION AS A LEGAL AND MEDICAL SECRETARY

Taken From the National Debt Helpline: (post 4)
http://www.consumeractiongroup.co.uk...-Few-questions

Just so it is attributed correctly to National Debt Helpline - avoids potential problems.

[miliitant]

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



every little helps

[labman]

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

Indeed - we all get the info from somewhere lol. Sure you work for a union and not Tesco?

[bazzler]

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

From the original T's & C's of my original finance agreement:

6 - Car & Maintainence of the vehicle

6.1.1 - You will take good care of the vehicle and keep it in good and serviceable condition and maintain in accordance with the manufacturers and suppliers servicing recommendations, handbooks and manuals, and ensure it has a full service history.

Ok.... I presume this is the point they're trying to say their asset collectors will refuse the VT because of.

I bought the car 2nd hand from a main dealer, the car did not have a service book or any manuals at the time of purchase. I took the car back to the same garage to get some warranty work done earlier this year and they didn't even have a record of me purchasing the car from them! I had to prove it with my warranty documents, so therefore they never invited me to get any services done... I have done just under 6,000 miles in 2.5 years, have no previous service history to 'maintain' (That I'm aware of) and due to it having no service book, I'm unaware of what the manufacturers recommended service plan is, but have taken the car to a Vauxhall dealer to have a recall done and has a full current MOT just done in August.

When the call handler kept asking if there was something I disagreed with in the new terms and conditions they have sent to confirm the VT, I said regardless of whether or not I disagreed with something in it, I've been told I don't have to sign it in order to continue. This was when I said it didn't have a service history and she said is this why you don't agree to sign it, I said not particularly, I shouldn't have too etc. We went around in circles for ages and we were both getting piddled off by this point.

Think I'm going to have to speak to a manager next

[labman]

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

Legislation overides their T&C's. You cannot return something you never had. I would take it back and give them the keys.

[labman]

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

Just to add, I can't stress enough that I wouldn't get into an argument about it. Just return the car, hand back the keys, ask for a signature of receipt. If they refuse leave the keys and walk away. Photo car on premises with newspaper again as proof.

When I did this with someone recently, I recorded everything as well, just in case.

[bazzler]

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

Just to add, I can't stress enough that I wouldn't get into an argument about it. Just return the car, hand back the keys, ask for a signature of receipt. If they refuse leave the keys and walk away. Photo car on premises with newspaper again as proof.

When I did this with someone recently, I recorded everything as well, just in case.

Is that take the car back to the dealer I bought it from? Or the auction house that they say the car must be taken to?

If I take it back to the dealer, presumably I will have to write to the finance company to inform them where the car has been left for collection?

If they continually ask me what exactly I have a problem with in the document they've sent out, and why do I not want to sign or verbally say I'm happy with them.... how would you answer that? Just saying I don't or shouldn't have to sign anything else gets me nowhere. I'm going to give it one last try to get this sorted with a manager today amicably, I will tell him that I am willing to transport the car to their designated auction house as a gesture of good will despite the fact it is borderline 'reasonable distance to travel' (there and back is 60 miles, return journey without a car).

Does that sound reasonable on my behalf, in going above and beyond my duties in accordance with the CCA 1974?

edit:

CCA 1974 - Section 100 / Subsection (4)
If the debtor has contravened an obligation to take reasonable care of the goods or land, the amount arrived at under subsection (1) shall be increased by the sum required to recompense the creditor for that contravention, and subsection (2) shall have effect accordingly.

Would they use that to say I've contravened the original contract that says I must maintain and service the car, and possibly charge me for the services missed (only done 6k miles in 2.5yrs)?

Cheers

[labman]

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

In hospital at moment. Will try to reply later