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

[Furryhobnob]

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

I'm not sure if she had it in writing, in fact I think she has an email with just the charges for the excess mileage with no mention of the damage to the alloys, like I said though it's not on the report/receipt when they collected the car, for some reason her contract was for 37 months and she gave it back after 34-35 months

[ncf355]

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

They have no grounds whatsoever for court action, tell them Section 100 of the CCA 1974 only requires that you take reasonable care of the vehicle, alloy wheel damage in particular is very likely to be regarded as 'fair wear and tear' - how many cars out there have scratched alloys?

Did they 'waiver' the alloy charge in writing?

If so, they are on extremely dodgy ground attempting to reinstate that charge as a threat to require payment for the mileage

How long had she owned the car when it was returned?

[Furryhobnob]

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

Thanks ncf, so even though her contract stated 6000 miles per year,this doesn't come into effect when vt'ing?

[ncf355]

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

Hi,

you just need to stick to your guns

Obviously, in using 'fraud department' they are attempting to intimidate you - this is not fraud in any way, shape or form and they damn well know it!

You are entitled, having paid in excess of 50% of the total sums due under the agreement, to VT without further cost.

[Furryhobnob]

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

Hi guys, have just came across this thread and joined up and would appreciate some help, my partner had a 207 with Peugeot under pcp which she vt last month after paying £8400.20 of which the total amount to pay was £14797.80 so she's above the 50 percent, she told them she needed 12000pa as her work is 20 miles away but her contract says 6000pa, at the time of them picking the car up the mileage was 37055 so according to rms receivables she owes £1372.57 for excess mileage, I did a little digging around and got her to email them quoting she owes nothing under the cca 1974 but they have replied saying she's got 10 days to pay or they will report her to the fraud department who will likely take her to court, they originally said she also owed £120 for damage to 2 alloys which wasn't on their inspection report when they collected the car, they wavered this but now say because she's refusing to pay the excess mileage she now has to pay for the alloys too, any advice on what we do next would be great

[TheBoomerang]

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

Mine are 175/m, thanks again!

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

I would say that two weeks notice is sufficient then, i.e letter in by middle of april

Yes that is usually what I recommend. If your total annual repayments are less than 1500 you have to give one months notice however.

[TheBoomerang]

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

I would say that two weeks notice is sufficient then, i.e letter in by middle of april

[TheBoomerang]

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

I think that a court would consider the vehicle was still under hire, where the hirer had not given the creditor the opportunity to regain possession of his goods.

I see, that's great, thanks.

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

I think that a court would consider the vehicle was still under hire, where the hirer had not given the creditor the opportunity to regain possession of his goods.

[TheBoomerang]

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

Why not?

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

The agreement is terminated as soon as I send my letter in though? In theory could I send my letter to them end of April and avoid making 1st May payment?

Why would you think this ?

[TheBoomerang]

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

The agreement is terminated as soon as I send my letter in though? In theory could I send my letter to them end of April and avoid making 1st May payment?

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

You need to get the VT in as quickly as possible as you will be liable for any contractual payment up until the end of the notice and the agreement is terminated.

[TheBoomerang]

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

When you say settlement figure do you mean the 50% figure on Your agreement ? or the figure they have given you.
How much ave you paid altogether including any deposit/ part exchange ?

Yes, settlement figure is £3.5k. Just pointing out that it makes no financial sense to settle it in cash when I can settle via VT. I have paid over half so no issue there, just want I ensure I don't compromise anything by timing the VT to suit me!