VT my car.

[Carroll77]

Hi,

Hopefully somebody canhelpin which my next step should be.

I met the 50% payment on the 19th July.

I'd sent a letter to the finance company on the 30thJuly (recorded delivery) using the following template letter
Dear Sir/Madam
Account name: A.N. Other
Account number: 12345678
I hereby give you notice that I wish to terminate the above Hire Purchase agreement with immediate effect. I understand I have the right to do this at any time before the final payment is due, under s.99 (1) of the Consumer Credit Act. I also understand that my liability following termination will be calculated in accordance with s.100 of that Act.
Please let me know the arrangements for returning the goods. 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.

Thank you for your help and I look forward to hearing from you.
Yours faithfully,


On the 8th Aug I phoned to see what was happening. They told me that they didn't receive the letter until the 6th and had sent the forms out until the 7th. Was told that I had to fill out the forms before I could VT. I asked why as I had already gave written notice.

Citizens advice phoned on my behalf today to query my letter, only to be told that I had only requested the form and not VT. Also it would take roughly 28/29 days to proceed and I was still to pay my payment in August as I had the use of the car for a month at the start of the finance agreement.


Citizens advice then suggested I went to my local tradings standard . Person at trading standards told me that I was reading too much into why I should not sign the forms (after I tried explaining the reasons listed in the thread "Voluntary Termination of a Hire purchase or conditional loan under the CCA 1974") and was even advised by her manager that I should just sign the forms. They told me that I would still be covered by the CCA 1974 and I would not be changing any of my rights by signing the forms.

Thanks.

[dogtired]

Re: VT my car.

:bump:

[ostell]

Re: VT my car.

Not an expert but if you search for other VT cases on here the advice seems to be not to sign any forms that are sent and not pay any more. Your initial letter is notice to them of the VT.

[Guest]

Re: VT my car.

There is nothing wrong with signing one of their forms , if all it does is facilitate the VT, so read it careful and make sure what it does, I am not sure what is meant by " reasons listed in the thread Voluntary Terminations...".

Perhaps the confusion comes from your letter which says that the agreement was terminated with immediate effect, I notice this was not our template letter, our sticky does not say this, in fact I think the term "reasonable notice" is used in the description.

They are unfortunately entitled notice before the termination takes place, which is why they probably sent you a form and stipulated 28 days, which is the maximum they can demand.

You will be liable for repayment until the end of the notice period. If they have not made suitable arrangements to recover the car by this time then, you do not have to pay any more.

[Guest]

Re: VT my car.

Just to add to the above.
Any arrears does not effect the right to terminate, they can chase you for any money due after the car has been returned or after the agreement has terminated.

[charitynjw]

Re: VT my car.

I have seen that it is wise to take pictures of the vehicle immediately prior to recovery of the vehicle - proves invaluable should there be any dispute as to the condition of it at that time.

Also, the recovery should be within a reasonable time - you will be storing their vehicle.

[Carroll77]

Re: VT my car.

The forms that they have sent said that
I only had 7 days to return to them.
That I must be present at the inspection and could not nominate a third party (obviously I would be attending to take photos etc.)
That if I wanted the car picked up from my home addresss, they would charge me for the inspection and the collection of the car.
If I wanted to carry out the repairs myself it would cost an additional charge of £50 plus VAT for a re inspection.
I only have 10 days to make full payment depending on the Inspection Report.

I didn't want to sign the form as I feel I giving away some of my rights and scared that it might mean that I am liable to pay more money.

Instead of phoning them, should I send them another letter stating a notice period? I'm quite happy to have the car until my payment on the 19th Sep.

I took delivery of the car in Aug 2010 and my first payment was due Sep 2010 (reached the 50% mark without missing any payments on 19th July.) This is why they said that I would have to pay August as I had the use of the car for a full month. I was getting confused as I always thought "arrears" meant a miss payment.

[Guest]

Re: VT my car.

They cannot contract out of a statutory right, in other words they cannot make you sign away a right that is given you under the law.

As long as none of the conditions say that you agree to pay xxxx then I would sign it, if you want you could enclose something like the letter below.

If you are sure you do not want to sign their form then come back on here and we will draft another letter for you.

Dear sirs

Ref Voluntary termination of vehicle registration xxxxxxxxxx.

Thank you for you letter regarding the above matter the contents of which are noted, the letter is signed and enclosed.

I would remind you that my signing of this letter in no way prejudices my statutory rights in this matter.

You are required to provide a point of access where I can return the vehicle within a reasonable distance from my home, or alternatively you may collect the it yourself, there is no facility under the act for you to charge a fee for this.

There is also no facility for you to levy any charge for"inspection" of the vehicle.

I await your instruction on how you intend to facilitate the return of your vehicle.

[Carroll77]

Re: VT my car.

The Voluntary Form that I was sent,

To
From
Dear Sir/Madam
Argreement No. xxxxxxx
Goods (please complete)
Registration No (please complete)

In accordance with my rights I wish to end this Agreement. Please accept this letter as my notice of termination.

I understand that I will have the registration document, MOT Certificate, Service Records and all tools,accessories, handbooks, and spare security keys ready for viewing.

I will return the vechile as directed by you on the arranged date with the registration document, MOT Certificate, Service Records and all tools,accessories, handbooks that are required for the use of the vehicle. I will also return my security keys for the vehicle and I understand that I will be liable for the cost of replacemnt key if they are lost.

I acknowledge that you will notify me should there be any repair cost required by me after your inspection to recompense my failure to take reasonable care of the vehicle. Any repair costs will be due from me within 10 days of the date of notification. I relise that if payment is not made within this time, legal action may be raised against me.

Signed........................ Date..............
Address......................
Daytime Telephone Number..............
Vehicle Mileage (Required).............

[Guest]

Re: VT my car.

I would write at the top; "voluntary termination under section 99 of the consumer credit act", initial and date this.

Otherwise seem,s fair enough to me, I would enclose the letter in there previous post, write NB attached letter at the bottom.

If they claim "repair costs" you can always state fair ware and tare, be wary of signing anything when you drop the car off though.

[Guest]

Re: VT my car.

Oh I would photo copy before I sent back the form.

[Carroll77]

Re: VT my car.

Voluntary Termination Process Form that I was sent. The bits in bold are the way thatthe form was typed.

You have advised us that you wish to exercise your right to Voluntary Terminate (VT) your agreement and return the vechile to (name of finace comapany). If you have not already paid Half the Amount Payable figure, you must make arrangements to do so. On receipt of all due funds, we shall issue a VT Form which you must sign and return to us within 7 days!

Upon receipt of the signed VT form, you shall be contaced by our Vechile Return Officer. We shall advise you at that time as to where you must deliver the vechicle at your expense (Ref clause 11.1 of your agreement) where, an appointment will be arranged to carry out an inspection of the vehicle at our expense. If you cannot, or do not wish to return the vehicle to the appointed delivery address, we can arrange this for you. The cost of the inspection at your home address and the vehicle collection will be charged to you. This charge must be paid in full prior to the vehicle being removed, and the collection cost will depend on whether the vehicle canbe driven, or requires to be transported.

Upon such time as you have returned the vehicle to our agents, you are responsible for ensuring that the vehicle is kept in a roadworthy condition with all taxes, insurances and certificates being valid during this time. Under the terms of your agreement it is your responsibilty to take reasonable care of the vehicle, having followed the maufacturers recommended servicing schedule.

The purpose of this inspection test is to ensure that you have taken reasonable care of the vehicle per terms of your agreement with us. The inspection compares the vehicle to the British Vehicle Rental and Leasing Association Fair Wear & Tear Return Standard.

INSPECTION and RETURN PROCEDURE.

1. You must be present at the inspection and cannot nominate a third party to attend on your behalf. You will be required to sign the inspection report.
2. If the vehicle does not start or drive, we reserve the right to refuse to accept the vehicle until such times as you have carried out any necessary repairs. During this time your agreement will continue within the original terms and any payments falling due shall be payable by on on the due date.
3. You must ensure that the following items are available at the inspection: V5C Registration Document, MOT Certificate (if more than three years old) all Vehicle Handbooks, Radio Codes, Security Codes and all Tools including Jack. PLEASE NOTE YOU MUST NOT CHANGE THE V5C TO SHOW (name of fiance company) AS THE NEW OWNER/REGISTERED KEEPER.
4. If the MOT Certificate has expired, you must arrange for a replacement at your expense. Alternatively, we will arrange a test, and charge you associated costs, even if you have already paid Half the Amount Payable.
5. On completion of the inspection, you will be given a copy of the report detailing aany costs required to return the vehicle to the British Vehicle Rental and Leasing Association Fair Wear & Tear Return Standard.
6. On receipt of our copy of the Inspection Report, our Vehicle Return Officer shall contact you to collect any sums due.
7. you will have 10 days to make full payment of this amount. If you do not pay this amount in full within 10 days, we shall proceed with the VT of the vehicle and further legal action will be raised against you to recover all sums due.
8. If you choose to have the repairs carried out at a repairer of your choice, you must do so within 7 days.
9. You must then deliver the vehicle to our appointed delivery address for a re-inspection of the vehicle. An additiona charge of £50 plus VAT will be payable by you for this re-inspection.
10. You must deliver the vehicle along with items mentioned in the above paragraph section 6.
11. You must deliver, or hand over the vehicle to our agent in person. Our agents are instructed NOT to receive a vehicle from relatives or a third party. You will have to sign the vehicle in to ours or our agents care.

Please be aware that until such time as you have returned your vehicle to us in reasonabe condition as per terms of your agreement, you are liable to make all payments as they fall due, on the due date.


If you decide that you do not wish to proceed with the VT, please put this in writing to us. Your agreement will then continue as normal.

[Guest]

Re: VT my car.

Firstly they cannot refuse to accept the vehicle, take your phone and photograph the car and the person/ place you are handing it over too, then just walk away if you have to.

Do not sign any report unless you are completely happy with what is on it, and then only if you are sure you are going to receive a carbon copy so that nothing can be added later.

Try to take someone with you if you can, the drop off point should not be more than say 20 mins drive away, if it is any more than this you need to tell them that this is an unreasonable distance.

Contrary to what it says on the bottom, once the car is returned you are no longer liable for any charges under the contract(irrespective of its condition) if they want to pursue you for charges due after the return they can send you a bill, this cannot stop the VT.

[Carroll77]

Re: VT my car.

Thanks so much.

Just to clarify.

Signed the fiance company VT letter and write at the top; "voluntary termination under section 99 of the consumer credit act", initial and date this.
Enclose the letter in the previous post (is this from your post #8?), write NB attached letter at the bottom.
Do I enclose my original letter from my first post?

Do I need to give them a notice period as I would prefer it if I could keep the car to at least start of Sep. (Hoepfully finace company will take the full 28 days.)

[Guest]

Re: VT my car.

You will have to work out when the last day of your contract is, probably 30 days after your last payment, (unless you are paying in arrears).

I would get things in motion then play it by ear, all these things seem to work differently, just take it one step at a time.

Good luck