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

[Nicola0007]

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

Hi,

I am trying to sort out collection with Santander but they want to charge me £70 or drive it to new castle! I live in central Scotland so it's not reasonable. I told them they can't do this under CCA but they want the legislation in writing from me. Does anyone know where I can get it or exactly what I need to say to them? Hoping to get the car picked up next week. Any help would be great

[singlis13]

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

Hi there!
I terminated my car 2 months ago, was over 50% on the agreement and had an inspection on site which showed no faults. However, we were well over our milage and our pcp deal stated 6p per mile over the agreed amount.
The problem I have is that we have not received any bill what so ever or any communicatiom saying nothing i owed. I've read horror stories about people getting huge bills months later. Are they allowed to do this or is there a maximum time limit in which they have to send any bills? I'm really worried we'll get a massive bill randomly through the post in a few months.
Thanks

[Vicp]

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

Hello all

So here is my case

I have a vehicle on HP from Hartwell.
I have made arrangements to exercise my right to VT.
when I first got the car back in 2012 I was making high payments and my contract included a mileage cap along with excess mileage charge. 6 months after I contacted them to reduce my payments resulting in a new contract being issued , which luckily for me didn't have anywhere written about an excess mileage. I've spoken to a solicitor ( however cars / HP are not their area ) and she has said I should b ok as it's not in my current , in force agreement.
I've read the horror stories about them trying everything but as long as my contract in force doesn't mention it I should b ok??

So one thing that is my fault is that the vehicle wasn't serviced last year. It was MOT'd but not serviced at the ford garage. I understand that this is my fault. Does anyone know the knock on effect for me having a missing stamp in my book? The agreement says as recommended any the manufacturer which is either mileage or dates ??

Help? I'll prob get stung but I need to prepare myself for the cost?!

Any help appreciated

[Kimeda]

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

My question is slightly different. I have a VW Polo and was not given the option to refinance or part exchange due to a poor credit rating. The obvious thing to do therefore is voluntary termination. I told the finance company in July I wanted to hand back the car. The finance company is saying they will not accept the car back unless it has a valid MOT certificate. The car only became three years old and therefore due for MOT in July. I have not been using the car as I went elsewhere and have a different car on HP. I cannot afford to get the car MOT so what happens next?

[RichM]

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

just realised I resurrected an old VT thread from about 3 years ago....apologies!

see below for original question. thanks:

Hi Everyone,

I have been reading this thread for a while and used the template letter to VT my car in May. MB Finance have now wrote to me advising that I owe them £1200+ for damages to the vehicle. The damages are as follows
- excess mileage charge - this I am happy to pay as I was over the mileage pro-rata
- poorly refurbished alloys - I had all 4 alloys refurb'd due to kerb damage, the alloys were diamond cut but have been refurbished to a v good standard, however, are not diamond cut
- poorly repaired front bumper - I had the front bumper repaired due to a scuff to the paintwork, admittedly the front bumper repair wasn't 100% perfect.

My concern is that the car went straight to auction and was sold, I dont believe these repairs have been carried out and as such I am paying for repairs that will never happen. I have advised MB of this and their reply was:

'In relation to providing evidence of the repair work carried out on the car, the fact that we choose to repair our cars before onward disposal is a remarketing decision and not a requirement to justify any charges we believe are payable by the customer. The agreement is worded accordingly and is also the reason why no VAT is applicable to any damage charges that we issue to the customer since the charge is classed as a compensation charge for not returning the car within the return standard as opposed to a charge for actual works carried out.'

Where do I stand with this? Can they charge me as compensation?

thanks
Rich.

[debsydo]

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

does this apply to static caravans etc or just cars?
ty

[alloa64]

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

Just had a call from Wayne at RMS, I terminated 3 months early, owe them nothing for the finance as i was well over my 50% i have offered to pay the mileage over the initial 18000 and for the damage on the car, listed as scuffs and stone chips - he says the car was dirty i said i was not paying for scuffs not listed on the sheet , he says i have to pay pro rata for mileage. I knew i would have to pay something for the mileage but the charges are excessive - the car will be punted to an auction house and the repairs will not be carried out. What are my rights

[judgemental24]

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

They have to allow a certain amount of damage due to the age and milage of the vehicle.
They cannot charge for scuffs and stone chips, that is a normal motoring hazard and can happen at any time.

What ths rep is saying happens every time a VT is done and very difficult to enforce. You need to be challenging the alleged damage

[Strett]

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

Hi - thanks for this thread and replies to people's questions, it has been really useful for me personally as I have now started a VT on my own car bought via a HP with Moneyway.
I was up to date on payments but £650 short of the 50% mark stated in agreement if I go by the amount paid thus far as advised on the phone by their customer services person so I paid it that day. I sent an email with a signed scan of the letter attached and sent the letter via recorded delivery, which was confirmed by royal mail as signed for the next day; so I think I've done everything right.
I rang Moneyway yesterday as it's been over a week with no response and the car insurance policy we have ended yesterday - all they said was that it was with the legal team being looked at that day and I would get a letter by the end of the week.

I have two questions - firstly, should I still be insuring & taxing the car until they collect it? It's not in use currently, just sat on my drive. I have sent the Yellow form from the V5C off with just my signature (and a not to say I'm handing it back) but not had a note back from the DVLA as yet.
Secondly, how long is acceptable to wait to get a collection/drop off arranged?

[judgemental24]

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

As you have now terminated the agreement with the creditor you need to inform DVLA that you are no longer the registered keeper/owner of that vehicle.

You need to tell them the finance company have now taken possession as the agreement has been terminated. Give DVLA the full details of the finance company.

Please please send by recorded delivery

After you have terminated the agreement it is reasonable to wait 2 weeks., to dispose of the vehicle

They might ask you to drive it to an aucton 30 miles away, but no further. If they play silly buggers they can come and collect it from your home

Any longer remind them of their liabiliy with DVLA as the vehicle is parked on the highway and might get clamped

[Strett]

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

Many thanks, much appreciated

[travellinggirl]

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

Hi there,

I too have been stung by mileage charges (mine was capped at 500 per year!) and am looking to dispute this as only part of what my car company have screwed me over on. is anyone able to point me in the direction of a letter template I could use to dispute this please?

I have also written to the financial ombudsman because I was not given the opportunity to take my contract away and look at it, but was encouraged to sign it there and then or 'miss out' on the 'deal'. I originally went into the garage just to book a service for my previous car and was sold a newer, same model car as he told me that I would not have to pay my service that way and this was limited because it was the end of the month. At the time I told my dealer I was leaving the country in 18 months and he advised me that I could hand back the car after 18 months and incur no additional fees. He also advised my partner of this when I brought him along because I wanted support. The garage refuse to comment on what he did or did not say and he no longer works there. So my 'free service' has cost me £950 in termination fees and £440 in mileage charges!

[Buddy8912]

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

Hi, not sure if this is in the right section......
I'm awaiting collection of my vehicle I have VT'd. The finance company have wrote to me and stated that if there isn't a service book present I will have to pay £400 ....... Guess what , I can't find the said service book !!
can they in force this ?

[judgemental24]

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

No they cannot unless it is in the original finance agreement you signed

Many cars purchased from a garage were straight from auction houses anyway and did not include service books

Ask them under what terms and conditions you have to pay the penaly charge and get them to send you those terms and conditions where referenced

That should shut them up

[Buddy8912]

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

Excellent . Thanks for your reply , to be fare it did have a service and history when I bought it !