Voluntary termination

[Pcgcdale4]

We have a car on Hp, it's proving too much for us, petrol costs , however it has around £1700.00 left the car is not worth this amount I've asked the company what we can do after a lengthy discussion they suggested voluntary termination but their forms they send you say they want £100.00 collection fee or travel 2.5 hours away to drop off, but the car has a scratch that is not worth fixing, price wise more than car worth. We can afford to pay the monthly payments but it seems wasteful leaving a car to rot for 8mths. I'm tired of companies charging us through the nose for things and want to make sure we can hand this car back at no cost to us!
Thank you

[R0b]

Re: Voluntary termination

Hello, 2.5 hours is unreasonable to drop the vehicle off and they can't charge a collection fee.

You will need to be aware of the scratch as it is likely that they will charge you for then when it is collected. Reasonable condition of a car is subjective but there are various factors to be taken into account such as the age, servicing, MOT etc. So just because there is a scratch doesn't necessarily mean you will have to pay for it.

I would advise against signing any of their forms as it is more hassle than it is worth. All you need to do is give notice and its best to do this in writing with proof of postage receipt as evidence.

More information can be found here ->http://www.legalbeagles.info/forums/...ry-Termination

[Pcgcdale4]

Re: Voluntary termination

Please could I just ask another few questions?
The settlement figure on the car is more than the market value and the cost to fix the scratch through insurance would write the car off as the cost is more than the vehicle worth. If we hand the vehicle back can they charge us more than the vehicle is worth?

[R0b]

Re: Voluntary termination

They can charge you for damages where the vehicle is not returned in a reasonable condition and this is subjective. They can only charge for something that happened within your control. Part of the problem for lenders is that they do not undertake any inspection prior to handing the vehicle over so you could really argue that the damage was already there when you took control. The lender would have issues proving that it was you that caused the damage and arguably can't recover something they cannot prove.

So to answer your question, yes they can but only in so far as it should return the car to a reasonable condition. If it puts the car in a better position than reasonable then it cannot be charged.

[Pcgcdale4]

Re: Voluntary termination

Thank you very much for your help. I'm trying to find the letter samples to send to the company to start the voluntary termination but cant seem to find them could you please point me in the right direction thank you.

[R0b]

Re: Voluntary termination

http://www.legalbeagles.info/forums/...ry-Termination