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

[R0b]

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

Yes you will only be liable for up to the 50% mark, http://www.legalbeagles.info/forums/...ry-Termination

There is a letter to send on there

[PaulT87]

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

Thanks Rob I will let you know how I get on

[PaulT87]

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

I know I'm going to sound a bit thick here so I will apologise the template letter states I have paid 50% off do I need to change the wording in this case

Cheers Paul

[R0b]

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

Yes you can amend it to say something like, it is my understanding that I have not yet paid half of the total amount payable nevertheless I am entitled to terminate the agreement. Therefore please could you send me by return, the remaining difference between what I have paid and half of the total amount payable.

[PaulT87]

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

Thanks I will see what I get back

[PaulT87]

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

Well I have sent the email off and got no reply payment is due tomorrow so I guess they will wait till they have the next months payment

[PaulT87]

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

Rob I need abit more advice sorry I've sent 2 emails and not even received a reply what should I do ?

[R0b]

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

What exactly is it you want to do? have you received any acknowledgment of your emails being received? If so you could send a further email and state as they have failed to reply but acknowledged receipt, you are making clear that the agreement is now terminated and so you have cancelled your direct debit as no further payments are required and to arrange collection of the vehicle.

[PaulT87]

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

My email doesn't let me know if the other recipient has got just tells me it's been sent I have sent the email stating I want to vt but ask for the remainder of what I owe up to 50% but received nothing back and there normally quite quick to respond to any emails

[Big Ton]

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

Hi Rob,

Sorry to be a pain, I have no doubt you will have answered this question about 100 times by now. I've read through the posts, my only concern is with the condition. My car has a full approved service history with zero issues. Aesthetically it's spot on. When the last service was due, I asked if they could run a diagnostic as my radio had stopped working. As luck would have it, it's been an electrical fault that requires a very very expensive repair. The technician explained that this couldn't possibly have been caused by me nor could it have been prevented by me. My main concern is that if I now VT my agreement, can I be held liable for this repair as its not been my negligence that this fault occurred?

Sorry if I'm asking a repetitive question, I just want to make sure before I jump in head first.

Thanks

[R0b]

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

Hi Big Ton,

Its unlikely that the agent will check the inside of the vehicle, although I think it would be difficult to say that a non-working radio puts the vehicle in an unreasonable condition. It's all subjective and if the exterior is in reasonable condition I wouldn't worry too much, and if they do claim it then provided that it wasn't recorded on the damage sheet (which is unlikely) then I suppose you can play dumb as it wasn't recorded on the sheet they cannot claim for it.

If you want to be certain you could ask for a copy of the damage report but don't sign it. They are usually more concerned about the look of the vehicle than the electricals, provided that it is not something major which affects the vehicle and its roadworthiness.

[Big Ton]

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

Thanks very much, I wasn't sure if I'd have to declare it. Appreciate the advice.

[R0b]

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

Never give the lender any excuse to charge you for something, yor under no obligation to declare and it is up to them to ensure the vehicle is in a reasonable condition. Again the non working of a radio does not make the vehicle unreasonable condition.

[PaulT87]

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

Hi Rob some good news not long after my post I have received an email from the finance company stating they have received my email and forwarded it on to the correct department however I still haven't heard a peep from them they took there monthly payment on Friday but haven't sent the new code so the car will be immobile within a couple of days where do I stand if they don't reply do I declare car off the road and send the logbook off to the dvla in there name ?

[R0b]

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

Cancel your direct debit now as they should not need to take any further payments from that.

What do you mean immobile and new code?