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

[Jacques]

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

Hi Everyone, this is my first time posting on the forum.

Thank you for all the help and guidance on here. It has really helped me through my VT so far.

I VT'd my PCP agreement on 19th September 2016 (based on the LB template letter, thank you btw.) and I have received a reply from the creditor today (21st September 2016).

In the letter they say that;

"You are also liable to pay for the use of the vehicle since the last monthly installment due to the date of your letter, terminating the agreement, was received by us. The amount is £6.89 per day and is calculated on a pro rata proportion of your monthly installment. This amount as of todays date is £124.08. If the vehicle is not made available for collection within 14 days of the receipt of your letter, the daily rate will continue to accrue until such as the vehicle is collected."

AND

"If you have exceeded the excess mileage band allowed on our agreement of 33000 miles, you will be liable to pay us for the excess mileage at 6p per mile plus VAT. "

My agreement says " You have the right to end this agreement. To do so you should write to the person you make your payments to. They will then be entitled to the return of the goods and to half the total amount payable under this agreement, that is £7874.40. If you have already paid at least this amount plus any overdue installments, and have taken reasonable care of the goods, you will not have to pay any more."

Are these charges legal?

They say in their letter that their agent will contact me to arrange collection of the vehicle within 14 days.

Details:
vehicle - from new on PCP
Agreement Length - 36 Months (ending December 2016)
Payed over 50% of contract sum (£7874.40) (Have payed £8343.40)
No missed payments
vehicle is good/excellent condition (confirmed verbally by dealer) and photo evidence.
Mileage - 42 950
Contracted mileage - 12 000 pa (36 000 total)
Pro rata mileage 33 000

Please can anyone help?! I am not sure if what they are asking ofr is legal or not.

[Jiblexic]

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

Hi,

Firstly thank you for all the free information provided here.

I am looking for some more advice if possible. I have recently served 14 days notice to my creditor on the 5th September. This agreement was a HP for 5 years. I got the letter to confirm I owed nothing further and the VT was being processed, along with what they consider 'minimal wear and tear' is.

After 10 or so days had passed, I called to find out the status of the VT, I was told the car collection company now were who I needed to deal with and it was passed to them on the 12th September, they'd take between 10-14 days to get hold of me.

Here's where I need advice, I've called the collection company today as its been 14 days since they were informed, and they have absolutely no trace of the vehicle. I am out of the country from Saturday for a week, with no one available to hand the car over and I'm not really sure how I proceed from here?

Thanks,
Dan

[R0b]

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

Hi Dan, your best option might be to write/email the finance co. and explain that you have received no contact as regards to collection of the car despite giving notice on 5 September. Having contacted the agent who will be collecting the company, they have confirmed that there is no record passed to them that the car is to be collected.

If the car is parked on your own property and not on a public road then you can also explain that unless they collect the car by XX XX 2016, you will notify the DVLA that they are now the registered keeper, cancel the tax and insurance and put the car on a a public road. You will not be liable for any losses suffered by them after that date. You should also give them a contact number to arrange collection and give them the dates you are not available.

I would also suggest the required date to collect is after you get back from being out of the country.

If the car is not parked on your own property then you might wish to go through the notice to sell route, where if they don't collect the car then you will consider it has been abandoned and you can sell the car but you have to hand the proceeds back to them less any costs for the sale at auction and other costs involved. You can find more info on how to do this on the following link (Post #18 onwards): http://www.legalbeagles.info/forums/...ion-Ford-Focus

[Jiblexic]

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

Thank you R0b, I will draft an email now and post it here for inspection if you don't mind.

Appreciate your response!

[Jacques]

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

Hi again all,

Please ca anyone shed any light on my post above? (#1038)

Any help would really be appreciated! Thank you

[Jiblexic]

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

Hi [MENTION=71570]R0b[/MENTION],

How's something like this?

Dear Sir / Madam

Account No: Car Make Model - Reg (Account No)

I am writing to inform you that I am yet to receive any contact from Collection Agent despite giving notice that I am exercising my write to terminate my agreement on 5^th September 2016.

I have contacted Collection Agent directly as instructed by several members of the Finance Company team, however they have confirmed they have no record of the vehicle, even though Finance Company have confirmed they have ‘instructed’ Collection Agent on 12^th September 2016.

If the vehicle has not been collected between the dates of 10^th October - 17^th October then I will notify the DVLA that you are now the registered keeper and will remove the vehicle from my property.

Due to the delay from Finance Company and/or Collection Agent I am not available for the vehicle to be collected between 1^st and 8^th October therefore under no circumstances should collection be requested during this time.

You will be aware that statute prevents you from levying a charge for the recovery of this vehicle; guidelines also state that if you require me to deliver this vehicle it must be no more than a short (reasonable distance) from my registered address.

Yours faithfully

Obviously company names will be put in, as will mine.

Thanks,
Dan

[R0b]

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

don't put in between dates, specify an exacts date e.g. by 17 October. You should also state that once the vehicle is removed from your property, you are not responsible for any losses suffered by them.

Where you have put "due to the delay from the finance co /collection agent" you need to put this in the line above at the beginning.

- - - Updated - - -
[MENTION=92100]Jacques[/MENTION]

Take a read of this link to answer your questions, but in short they can't charge excess mileage.

http://www.legalbeagles.info/forums/...ment-*UPDATED*

[Jiblexic]

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

Hi [MENTION=71570]R0b[/MENTION],

Thanks for that feedback, when you say it needs to be at the beginning, do you mean like this, also is this now sufficient?

Dear Sir / Madam

Account No: Car Make Model - Reg (Account No)


I am writing to inform you that I am yet to receive any contact from Collection Agent despite giving notice that I am exercising my write to terminate my agreement on 5th September 2016.


I have contacted Collection Agent directly as instructed by several members of the Finance Company team, however they have confirmed they have no record of the vehicle, even though Finance Company have confirmed they have ‘instructed’ Collection Agent on 12th September 2016.


Due to the delay from Finance Company and/or Collection Agent I am not available for the vehicle to be collected between 1st and 8th October therefore under no circumstances should collection be requested during this time.


If the vehicle has not been collected by 17th October then I will notify the DVLA that you are now the registered keeper and will remove the vehicle from my property, therefore once the vehicle is removed from my property I will not be responsible for any losses suffered by Finance Company.


You will be aware that statute prevents you from levying a charge for the recovery of this vehicle; guidelines also state that if you require me to deliver this vehicle it must be no more than a short (reasonable distance) from my registered address.


Yours faithfully

Thanks again for all the advice!

Dan

[claireb]

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

Hi,

I was hoping for a bit of advice on terminating my hire purchase, but it's an unusual situation so don't know if anyone could help at all?

I took out a hire purchase agreement for my ex-partner's car, and since then have paid 41/60 instalments, however he has since taken the car and is refusing to return it (police wont do anything as it is a civil matter, and he has no formal address so small claims court isn't an option). The hire purchase company said they would recover the vehicle, however I'm worried that the costs of recovery and damage (the car wont have been valeted, is pretty grubby to be fair and has some scratches) will exceed the cost of me just paying off the finance and learning from experience. I would need to pay £4000 to pay in full the finance, and the truck, in its current state would be worth about 6000, but I'm guessing the hire company will not take that into account and may send me a ridiculous bill for damage.
I also can't be there or take photos prior to them collecting the vehicle due to threatening behaviour so would rather just stay out of the way - which leaves me open to possibly being charged for damage that may not even be there. I'm just worried that the damage bill might even be more than the 4000 left to pay the finance off?

Thanks for any help or advice.

[R0b]

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

Hi Claire,

You've got yourself in a bit of a stick situation here because usually HP agreements contain a clause or two on having the car for your own use and not for someone else. If there is indeed a clause then technically you are in breach of the agreement which usually warrants termination and makes liable for a lot more than just 50%. It seems however that the finance co. are willing to help recover the car, how they will do that if there is no address I do not know.

Are you still in contact with your ex-partner and do you know where he is currently staying? I would disagree with the police that this is a civil matter because if you have allowed him to use the car but have since revoked that right, then I think that could be treated as theft, which makes it a criminal offence. He has refused to return it and therefore has the intention of permanently depriving you of the car. Perhaps you might want to go back to the police and restate that this is in fact a criminal matter and if they refuse to do anything then you should seek to make a complaint. I am sure you are aware that police resources are also stretched so this is probably not on their priority list but if you are able to give a description of the car and its registration and where your ex-partner might be, then it would certainly help them.

You could also go down the civil route and obtain a CCJ against your ex-partner. You are required to take reasonable steps to ascertain his last known address so he might not be permanently living there but if you are aware that he is residing at a particular place then that is all that is required. Once you obtain a CCJ for delivery up of the vehicle and he fails to comply then that is deemed a contempt of court, which in fact is a civil offence. If he continued to not comply with the order, then in extreme circumstances the court can issue a warrant for his arrest to bring him before the court with potentially a jail sentence (usually a suspended one as again, only used in extreme circumstances).

The other problem that you have is that if he chooses to sell the car, then you will be liable for the full amount under the agreement as you have deprived the finance company of the car.

First instance would be to go back to the police and make a complaint of theft.

[louiswellpad]

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

Hi,

This is my first time on this forum so would really appreciate some help.

I have initiated mt VT with Northridge Finance and have just received in the post detail on the Auction as to where I must leave my car (I must contact them to arrange a time when I have to leave it off)

Included with this letter was a VT Checklist. Should I fill this in?

Also, there is a section about 2 sets of keys. However I only received on set of keys from the dealer and when I rang him he said this is just the finance company trying to get more money out of me and they have no legal right to charge me for a 2nd set of keys as it should not affect the value of the car.

My next payment is due on 15 Oct so I would like to get the car left back by then so avoid any more payments.

I got the car 26 months ago with 67k miles and it now has 101k miles. there are no dents, just a couple of chips on the front bumper from stones which i would class as normal wear and tear. Everything else both inside and outside is 100%. I get it serviced twice a year by my newphew who is a mechanic so no official garage receipts for servicing.

Any tips or advice would be much appreciated.

Thanks
Louis

[Babiesmummy]

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

Hi there.....

Just a quick question. I initiated a voluntaey termination & it is being collected tomorrow, which part of the V5C needs completing, as its in my husbands name he may need to sign it before he leaves for work.

Thanks

Kelly x

[Gilroy]

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

I have already vt my volkswagen golf car has been picked up. When I got the car it had very bad alloys which I removed then put back on when they came to collect it. It also had a 200mm scratch on bonnet which I got repaired. I've had a call yesterday by rms receivables but I missed them. Car had a list off this done egr replaced 6months after I bought it and timing belt water pump etc all the things it needed done according to its service schedule. Im guessing but I think they be after cash for wheels. I informed citroen finance at the time about alloys but then about 18 months ago peugeot took them over. Car was on finance.

Almost forgot I've never had any letters other than a police scotland traffic violation saying the car had been photographed/ dvd evidence doing excessive speed. This was day after they collect car. It was same day it was driven to Leeds...

[R0b]

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

Hi there.....

Just a quick question. I initiated a voluntaey termination & it is being collected tomorrow, which part of the V5C needs completing, as its in my husbands name he may need to sign it before he leaves for work.

Thanks

Kelly x

Can't remember what section off hand but its on the inside possibly section 5 or 6 where both people have to sign it that it is being sold, you retain that section and send to DVLA. Alternatively you can notify the DVLA online here
https://www.gov.uk/sold-bought-vehicle

[Henti]

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

Hi Rob just looking at your advice thread, do you realise your first post on there is incorrect. The 50% mark is calculated on the TAP which includes the deposit, in that case it would be about 4k.