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

[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

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

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.

[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?

[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

[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.

[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??

[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,

[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

[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,

[Jferriday7]

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

I think your correct actually, i'm going to wait on there reply however I think its a personal loan. I'm not too sure, If it is a personal loan what would my options be?

[Jferriday7]

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

Hi again, sorry i've just had a look at my finance docks, type of credit is conditional sale agreement?

[R0b]

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

If it is a conditional sale agreement you will be fine to VT - there should be a box on your pre-contract information which tells you how much you should be paying before you can VT. If you have not reached this amount you will need to pay it before the agreement is terminated.

[RJW]

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

Anyone?

[R0b]

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

Hello,

Send them another letter with the effect of saying that you disputed the amount of rears and that there was only 1 months worth of arrears outstanding. By accepting and cashing the cheque they have agreed that only 1 month is outstanding and no such further monies is owed - any further letters requesting payment shall be treated as harassment and action may be taken against them.

If the date for collection has passed and they have not collected the car, I would give them a further 7 days to collect the vehicle otherwise you shall return the V5C to the DVLA informing them of a change of registered keeper, and that you will cancel the tax and insurance on the vehicle. Liability and responsibility will then fall to Peugoet as a result of their failure to collect the vehicle within a reasonable time as the Agreement has now been terminated (alternatively if you have a drive yu can suggest that you will store the vehicle on the driveway and charge a daily rate of £5 until they have collected the vehicle, which of course will not be returned to them until such payment as you would be holding a lien over the goods, or you could return ti and chase through the courts.)

All of the above is subject to you being certain that you owe only 1 months arrears - so before you do send something like that out, double check your figures as if you are wrong, then you could land yourself with further problems.