Voluntary Terminate PCP with RCI Finance

[jackson030207]

Re: Voluntary Terminate PCP with RCI Finance

Hi all

i have been back and forth disputing with Renault and they are still pursuing for the excess mileage and damages referring me to section 11.3 on page 5 of the agreement.

I have now received a letter of intention to take court proceedings. I'm very close to backing down but really don't have the money to pay them as they want £2100.

has anyone else got any updates

[Simon102]

Re: Voluntary Terminate PCP with RCI Finance

Hi SamTaylor - How much did they reduce the bill by?

[Simon102]

Re: Voluntary Terminate PCP with RCI Finance

Received a new letter from RCI Finance, saying there were various charges applied to my agreement after the collection of the vehicle. I need to pay £3000. If they haven't heard from me within 14 days, they will pass to their Debt Collection Agency.
They make no reference to the letter I sent in October (Template letter 1 disputing the charges of excess mileage).
I will email them the letter and see what they say.
In their correspondence, they have not even provided a breakdown of the charges and how they calculated the excess mileage .....
Any advice Rob?

[R0b]

Re: Voluntary Terminate PCP with RCI Finance

It's unhelpful for them to say various charges were applied following collection of the vehicle amounting to £3,000. How can you consider your position if they haven't given you a breakdown of those alleged charges?

It's not unreasonable to go back to them and request a proper response to your letter rather than avoiding the contents of it altogether and until they do, you cannot consider your position nor do you admit any of the charges totalling £3,000 are payable.

[bro99d87]

Re: Voluntary Terminate PCP with RCI Finance

Afternoon all,

I've been reading this thread with interest as I am just about to pull the plug with RCI Finance and looking at the above I suspect it will be a little bit of a nightmare!

One question I do have, I still have one more payment to make to reach the 50%. I read where I can terminate before that time, however I was wondering if I should enclose the outstanding balance on a cheque with the VT letter or wait for an invoice?

Thanks

Darren

[Simon102]

Re: Voluntary Terminate PCP with RCI Finance

RCI Finance have sent me an email stating this, after I had sent them letter template to dispute the excess Mileage:

QUOTE:
After reviewing this, I can confirm we will not be removing any charges. Mileage is a contractual fee and is therefore enforceable.

Please also note the clause in the Consumer Credit Act states: Consumer Credit Act 1974, section 99(2), states: “termination of an agreement…does not affect any liability under the agreement which has accrued before the termination.” This would support that these charges are fair as they were included within the terms and conditions prior to the termination of the agreement

This clause makes you fully liable.

What should my response be please Rob?

Thanks
Simon

[Simon102]

Re: Voluntary Terminate PCP with RCI Finance

This is the agreement relevant to excess mileage: (Interesting bit is at the bottom)

Excess Mileage
Annual Mileage Allowance : 5000 miles. Excess Mileage Charge : EO.08 per mile (inc VAT).
You must not exceed the Annual Mileage Allowance. For each mile driven in excess of the Annual Mileage Allowance, you will be required to pay the Excess Mileage Charge. This will be charged on expiry, or the earlier ending of this agreement, or where you request us to act as your agent to sell the Goods (see paragraph 1 1 of the terms).
In the event that the Goods are returned to us for any reason and you have failed to comply with your obligation to keep the Goods properly maintained and in good repair and condition, you will be responsible for the cost of any repairs necessary to put the Goods in good repair and condition.
Warning : Missing payments could have severe consequences, including our taking legal action against you, which may include a claim to repossess the Goods and/or the obtaining of a charging order against your home. It may make it more difficult for you to obtain credit in the future due to entries on your record held at the credit reference agencies.

TERMINATION : YOUR RIGHTS
You have a 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 €8360.02. If you have already paid at least this amount plus any overdue instalments and have taken reasonable care of the goods, you will not have to pay any more.

[Simon102]

Re: Voluntary Terminate PCP with RCI Finance

Any advice on the above please Rob,

I also see this issue was mentioned on moneybox today on Radio 4.

Its all kicking off.

I was mis-sold mine as well, as the garage (Lookers) knew full well I did much more than 5K per year as this was my second car on PCP with them and weren't upfront with the interest rate which was 10%....

[Caprisun]

VT was started 13 February 2018
I'm at the stage of letter sent to RCI "Intent to sell goods due to abandonment" section 12 TORTS letter sent 5 March 2018 RCI are not acknowledging any letters or e mails. They have also been made aware on the phone but nothing has come back mail or E Mail.
It's genuinely in the way on a private drive, Log book changed to RCI Finance, untaxed, a sorn declared and also uninsured. The car is in fine fettle, looked after, serviced as per schedule and only a little up on mileage but to RCI's disadvantage devaluing by the day.
They have until 19 March 2018 to make contact.
Question now is, when the 19th comes how and where do I sell the car and who, under the circumstances,will buy it?

[Samtaylor1986]

Hi all. Apologies for the lengthy delay

so I VT’d in August 17 and my dispute is still ongoing. They contacted me to remove ‘some charges’ that equated to around £250. But I am still disputing further charges.

However around two weeks ago the VT team emailed me to say that as I ignored a letter sent in September 17 and still haven’t paid they were passing the debt over to debt collectors.

i haven’t ignored any letters and actually emailed them when I received this letter to request they do not threaten me with 14 days to pay when I am currently in dispute with them. The car had a repair job via insurance and apparently the paint job is ‘dodgy’ - the work is guaranteed for 5 years so I provided them with all this information and then SIX weeks later they emailed to ask for a photo of the invoice. I gave this. Nothing for four weeks then another email to say they couldn’t see the photo and I needed to put the photo in PDF format......despite me documenting ALL the information on the emails

i then took this further and asked to make a formal complaint and I want to know who their governing body is etc to report them.

Currently communication with customer relations and I explained I was co-erced into signing the liability slip to process the VT and that this is legally wrong. He asked me why I think this so I haven’t information and mentioned legal.beagles. And he has basically said that legal beagles are incorrect and I liable for ALL charges.....

[Caprisun]

Re: Voluntary Terminate PCP with RCI Finance

Afternoon all,

I've been reading this thread with interest as I am just about to pull the plug with RCI Finance and looking at the above I suspect it will be a little bit of a nightmare!

One question I do have, I still have one more payment to make to reach the 50%. I read where I can terminate before that time, however I was wondering if I should enclose the outstanding balance on a cheque with the VT letter or wait for an invoice?

Thanks

Darren

Darren I did this:

Phoned RCI requesting to make an additional payment due to banking issues at my end. Paid a portion of a monthly payment mid month prior to Direct debit. This totalled me up to 50% so I thought (took me over actually I got my sums wrong) I then VT ed and cancelled my Direct debit when to balance paid in appeared online (log in portal) I did this so as not to owe RCI any money at the time of VT and did not want to make a full over payment unnecessarily.
My portal is still live today but the communication section and account details have been disabled/removed. RCI accounts Payment department are still writing perusing monthly payments despite being told of the VT situation and are threatening a strike.
Expect a torrid time whatever you do.

[Caprisun]

VT was started 13 February 2018
I'm at the stage of letter sent to RCI "Intent to sell goods due to abandonment" section 12 TORTS letter sent 5 March 2018 RCI are not acknowledging any letters or e mails. They have also been made aware on the phone but nothing has come back mail or E Mail.
It's genuinely in the way on a private drive, Log book changed to RCI Finance, untaxed, a sorn declared and also uninsured. The car is in fine fettle, looked after, serviced as per schedule and only a little up on mileage but to RCI's disadvantage devaluing by the day.
They have until 19 March 2018 to make contact.
Question now is, when the 19th comes how and where do I sell the car and who, under the circumstances,will buy it?

Well the section 12 TORTS letter landed with registration of delivery, the following day a third party Auction Company commissioned by RCI contacted me by phone to arrange an inspection and collection an E mail followed with "what to expect" The inspector reported the condition to RCI who instructed "No further charges" and away it went. 23 March 2018. VT was served 13 February 2018.
Over all, not a nice process due to RCI's inability/willingness to communicate with me and clearly with themselves. No closure communications of any sort have been received from RCI as yet.

Good luck to anyone going through this, hold your nerve and continue posting and E mailing and copy in the VT primary mail each time at each step.I had No verbal contact with the "RCI VT Team " No questionnaires were filled out and nothing signed for of any sort.
As said, no closure correspondence as yet so not counting chickens for a while but I considered it RCI property as from 13 February 2018.

[Redyakki]

Hi All,

I need your insights on my PCP with RCI that I recently VT’d (I signed the reply slip) and I have been prepared to pay the excess mileage (around 4K). The car was due to a service in May (based last year’s service) but no warning lights on the dashboard. The main reason why I’m VT’ing is that the maintenance cost isn’t worth of keeping the car as the battery fails and it may need replacing too. So £300+ servicing and new battery will cost almost enough to deposit for a new car which I did.

So, will RCI chase me to pay the servicing and the battery? I am prepared to pay £400+ for the excess mileage but not sure if they will be “kind” enough to not bother with the servicing? I haven’t had enough experience in managing situations like this so I don’t understand most of the terms - reading this forums actually helped a lot.