VT- MotoNovo

[bp17]

I'm looking for advice on VT with Moto Novo.

im looking to hand my car back to Moto Novo.

My payments are £225.85 pm over 60 month- in total this brings it to a total of £13551
i have 32 payments left whcih means 2 more until I've paid 50% of the payments these are due on 1st April & 1st May. My insurance runs out on the 29th May but im on holiday from the 14th May so i was planning on getting them to collect the car before the 14th May.

when I spoke to them a few month back they told me i would also need to pay the option to purchase fee which is £300, is this correct?

also the car has 2 dents am i best getting these repaired my self before handing the car back?

when would you advsie for me to start the ball rolling?

any help will be much appreciated @R0b

Regards

- - - Updated - - -

@R0b

[R0b]

Re: VT- MotoNovo

Hello,

First of all, your right to VT applies up until the last payment becomes due and as you are close to the end of the agreement, you need to decide very soon what you want to do.

You've already paid over half the total amount payable so you can give notice to terminate whenever you want and you won't be liable for any additional payments. You would only pay the option to purchase fee if you were going to purchase the car, which if you VT means you are not purchasing it but handing it back.

As for the dents, you have to make the decision on this. If they occurred whilst the car was in your possession then you would likely be liable if they are large dents in the car, but if they are small dents you may get away with it. Have you obtained any quotes for getting the dents out? It may not actually cost too much if they can be pulled out easily. If you leave it you will have to argue with the finance company about this and they either take you to court over it for their costs or you may end up having to take them to court as they may have applied a default to your credit report for it.

If you are set on handing the car back, then you could get things started now - the notice has to be in writing so you can either send by email or post or both, but if sending by post make sure to get a proof of postage receipt and/or send by recorded delivery.

There's a lsample letter at the bottom of this link -> http://www.legalbeagles.info/forums/...on-Your-rights

[R0b]

Re: VT- MotoNovo

Sorry just to add I seem to have misread your post. So you have 32 months left of the contract, not 2 months yes? If that's the case and you are two months away, you can either terminate the agreement now and pay up the remaining two months (if you can afford) or wait until you have paid after May's instalment is paid. You can then write to them and given notice, and make them aware that the insurance runs out on 29 May so if they fail to collect it by then, it is their responsibility to insure and tax it.

[bp17]

Re: VT- MotoNovo

thanks for getting back to me.....
I've had a quote of £400 for the repairs on the car.

if I send my letter via email on the 27th April do you think this is enough time for the car to be picked up before I go on holiday on the 14th may?

they are adamant I have to pay the option to purchase fee, i am only obliged to pay 30 payments of the total 60 payments?

thanks again

[bp17]

Re: VT- MotoNovo

Hello [MENTION=71570]R0b[/MENTION]


I sent the letter to moto novo last week-

however they have replied today with the following-

thank you for your email,
we require a handwritten signature for a VT request to be accepted.

can this be arranged?



.....

is this correct?
can you advise if i should or should not sign the letter?

[R0b]

Re: VT- MotoNovo

There is no requirement for you to sign the letter, and the law does not require you to do so. Equally, it is not up to Motonovo to 'accept' the VT as it is a statutory right and they can't choose when and how it should be accepted.

You can either reply to them by email and say that section 99 of the CCA says that you are only required to give written notice to terminate. It does not state anywhere that a signature is required for termination to be effective and secondly, it is a statutory right that Motonovo cannot remove and upon giving the notice the agreement is terminated - it is not up to Motonovo to decide when the VT should be accepted. If they disagree with your position then you require Motonovo to provide the particular section of the CCA that says a signature is required and also the relevant provision which gives Motonovo the discretion as to accepting the notice of termination and when it should be accepted. Otherwise termination has already taken effect and they should now arrange collection.

If you put your name at the bottom of the email then you may also want to add in that a wet signature is not needed as electronic signatures are also considered to be effective, including where one types their name at the bottom of an email or letter and refer them to section 2 of the Electronic Signatures Regulations 2002 if they wish to dispute it.

Alternatively, you can sign your letter if you want although I can't see any reason why they need the signature unless it is being used for something unscrupulous but I wouldn't know. The other potential issue is if you send the signed letter, they may argue that termination did not take place until the later date when it was signed rather than when you first sent the email and you may have to have an argument on that. I would however, caution against signing any of Motonovo's documents.