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

[ostell]

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

Hi,

I'm looking to voluntary terminate my agreement on a hire purchase, the problem I believe I have is that i've only had the car for around a year and a half and i'm in a 4 year contract. I was wondering what my options where and if this would be any problem?

I've sent the letter today so il just wait to see what they say, however i'd like to know if i'm going to run into any problems here?

HP is with barclays.

Thanks,

Are you sure this is HP with Barclays or a personal loan with Barclays to purchase the car? If it's a personal load than VT is not possible,

[Chris_P]

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

Hi All,

Hopefully an easy one here.

I purchased a Polo last year from a franchise dealer. All the finance was done through VWFS. It's a 3 year deal and I've not paid anywhere near 50% and want to voluntarily cancel as I don't need the car anymore.

What are my options here?

Appreciate all advice.

C

[Jferriday7]

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

Hi,

I'm looking to voluntary terminate my agreement on a hire purchase, the problem I believe I have is that i've only had the car for around a year and a half and i'm in a 4 year contract. I was wondering what my options where and if this would be any problem?

I've sent the letter today so il just wait to see what they say, however i'd like to know if i'm going to run into any problems here?

HP is with barclays.

Thanks,

[RJW]

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

Hi there. I too have followed this thread for a while and it's helped me understand Vt ing my vehicle but I would appreciate some advice please. I spoke to an advisor on 6/1/16 and discussed VT. Googling brought me here! Advisor said a pack of papers to sign would be sent out in the post (Peugoet Financial Services) Before this had even arrived I had understood about simply putting the VT in writing and not signing anything.

I sent my VT letter by recorded post o the 12th January. Checked it was delivered, it was signed for at Peugeot financial services on the 13th I printed a copy of the signature where it was received etc and I have my receipt for proof of postage also. I requested acknowledgment of this in writing. Which I didn't receive. I stopped my direct debit.

On the 2nd of February I received a letter stating I owe two months payments, no mention of the VT. I replied with a letter stating again I had VT'd the agreement, enclosed a copy of the original letter, accompanied by a copy of their receipt of said letter and also agreed that in fact in fairness of a notice period there were arrears but of one payment only, to which extent I enclosed a cheque for £249.00

This letter was received by them on the 3rd Feb (next day) and the cheque cleared my account on the 5th, so clearly that letter was received..! I also stated the timescale from my VT was nearing unacceptable for collection of the vehicle to have not been arranged, would they kindly get their company to arrange this with me as soon as possible.

Another letter today, (15th Feb) again absolutely no acknowledgment of the VT, merely states there are account arrears of £249. What do I do next please??

[EmmaL]

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

Hi the Inspector came out today & has made a report covering every little scratch on the car, wheel trim scuff, tiny chip in windscreen,the car is over 7 years old so I will be disputing this £657 bill! Getting it picked up was pretty easy but moneyway mess you about sending letter after letter, delay tactics I think, said I didn't sign my first letter but I did. I'm relieved it's gone, as financially was killing me due to lack of work but can't afford the bill no way

Hi, I have finance with Money way. Was wondering if you could give me any info. From what I can see they mess you about. Other than the bill for wear and tear they have charged you. Did you have any other problems handing the car back? How long would you say it took you all in from start to finish to finally get rid of the car? When did you cancel your direct debit and did you get accepted for credit afterwards? I'm vt'ing in July and going to apply for credit straight away. Thanks for any info you can provide.

[Lisajb21]

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

Hi the Inspector came out today & has made a report covering every little scratch on the car, wheel trim scuff, tiny chip in windscreen,the car is over 7 years old so I will be disputing this £657 bill! Getting it picked up was pretty easy but moneyway mess you about sending letter after letter, delay tactics I think, said I didn't sign my first letter but I did. I'm relieved it's gone, as financially was killing me due to lack of work but can't afford the bill no way

[Lisajb21]

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

Hi Peter
I posted on here a few weeks ago re my VT
Just a quick update, inspector came &took car away & left me with a print out totalling £657! I refused to sign this. They are trying to charge for a lightly scuffed wheel trim, bumper scuff, few scratches, slight windscreen chip (passenger side) although it's tiny & a dent in the roof which I complained about after the car had been delivered to me,I did contact previous owner who told me via email he caught vandles on the roof! What are my rights regarding fair wear & tear for a 7 year old car please? Don't know what to do once that bill comes in?

[James1982]

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

That's great thanks R0b. There is definitely no mention of excess mileage in the agreement, I have gone over it with a fine tooth comb. Honda aren't and therefore can't claim for excess mileage. I will send the dispute letter and see what they come back with.

[R0b]

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

As I've said in many previous posts there are no obligations to sign anything other than hand the vehicle over so no, there would be no implication and there is no justification why a second inspection is required, you've signed the report indicating you are happy with what is being said and the onus is on Honda to prove it was not returned in a reasonable condition.

If you want to go down the ombudsman route, suggest you get a breakdown of costs first and then once you have everything you require invoke their complaints procedure disputing what they have said and pointing out the fact no mileage clause was in the contract (i'd double check it just in case as its usually in there for most lenders) and then follow that. If they uphold the original decision they should confirm in a final letter and option to go to the ombudsman.

I am in the process of doing a comprehensive guide on VT which will hopefully be put on here and include complaining to the ombudsman, albeit it i'm getting there slowly. If it gets to that stage before it is up then I can help you through that also.

[James1982]

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

hi R0b, thank you for the quick reply. I will write to Honda asking for a full breakdown of costs. I do have a copy of the inspection report along with many photos. Mileage isn't a problem as there wasn't a clause in the agreement.
One thing I did find strange was there were two inspections. I signed the first inspection report as I was happy with it and was given a copy. The guy who did the inspection subsequently left. Then the guy who collected the car a few hours later did another inspection (which I refused to sign) which did highlight more imperfections than the first inspection. So can they use both inspection reports or just the one I signed for? Do you know if there is there any legal implication if I don't carry out my own independent inspection within the ten days? Can I still dispute the charges? And is going down the financial ombudsman route an option for me? Thanks in advance, James

[R0b]

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

Hi James,

Yes a full breakdown of costs and what they are demanding in terms of damage and mileage. Did you take photographs of the vehicle before you handed it over? Do you also have a copy of the inspection report?

Dispute it all is what I would say

[James1982]

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

hi R0b, just to provide an update from my posts a few weeks ago and to ask for some further advice if you wouldn't mind please. I had my Civic collected two weeks ago and had the full inspection which highlighted a few scuffs, scrapes and stone chips - nothing major. The assessor even commented the car was in a good condition for it's age (nine years). Luckily for me (or so I thought) the biggest scuff to the bumper wasn't listed on the inspection report that I signed which I imagine would have been the biggest expense. I received a letter last week from Honda demanding payment of £198.75 due to the car 'not being in a good condition for its age and mileage'.

The letter says I have ten days to arrange my own inspection if I want to dispute the charges before the car is sold at auction ( I thought it would have been sold by now). Obviously it isn't cost effective for me to arrange my own inspection so my question is do I have to pay the £198.75? Do you recommend I ask for a full breakdown of costs? In addition to this I am still expecting a demand for payment of £108 for them collecting the car which I will dispute. Thanks in advance, James.

[EmmaL]

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

Hi thanks for reply-yes sent both letters "signed for" cancelled the DD same day, it was due on 21st Jan & they had both of my letters before then. Their latest letter to me is dated 21st Jan & have just noticed a sentence saying if they don't hear back from me within 7 days from 21st Jan- they will then commence with my volentary termination request, surely this is just another "drag out"? As in my mind I requested over 3 weeks ago?

Hi, Hope you don't mind me messaging you. I have car finance with moneyway and I'm going to VT in July when I've paid half the money. Did you find it was an easy process? They didn't try and hit you with a lot of unnecessary charges? Did someone come and collect your car or did you have to drop it off at an auction house? Also if you don't mind me asking, did you get accepted for finance afterwards? I'm going to try for finance straight after VTing. Thanks for any help you can provide.

[R0b]

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

It could be a struggle if you signed it but even if you have, you could argue that you do not need to as the law restricts your liability. If they have failed to acknowledge any repairs on the vehicle which were done through them or an official repairer then bigger fool them. suggest you write back to them again pointing this out and that your not liable for any excess mileage. There is a few letters on here to help you out in the last 5 pages.

[p065088f]

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

Thank you for the information you have provided in the thread.

I have recently Voluntary Returned a Mercedes A Class and unfortunately I signed the VT Confirmation letter that Mercedes Finance sent out to me. They have now sent me a bill for £2421 for Excess Mileage and for damage costs. The damage is for a bumper repair that I had done by a Mercedes Benz Official repairer (I travelled a long distance and paid premium costs especially for this) and also had two wheel repairs done, by companies that were chosen by an alloy wheel insurance that was taken out with the Mercedes Finance. I sent Mercedes proof of my wheel insurance and the official repair certificate but they have not acknowledged it.

Could you please advise me on the best course of action to take against Mercedes or are my hands tied after signing the voluntary termination confirmation letter?