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Hello there,
Im new to the forum so i hope i am posting in the right format/place. I used a template letter i found on one of the threads to notify the Car Finance Company that i was voluntarily terminating the hire purchase agreement. A copy of that letter is attached. Below is their response, after looking through some posts I'm pretty sure that there are a couple of things wrong with the reply - the paperwork they are planing to send out, do i need to sign this and send back? Can they charge me for collecting the car? Will this go against me on my credit file? Do i give them the v5 (i thought they had to sign the yellow part and i send it off)? lastly i have cancelled my insurance as it only covers me to drive the car shouldn't they have their own insurance?
Here is the content of the letter i sent vt of hp .docx
And here is the reply
Good afternoon
Thank you for your email
If you would like to hand the car back you can, however you are liable to pay up to half of the agreement in order to do so.
You have currently paid a total of £6688.97 and the half way point of the agreement is £4417.64, which leaves a total liability of £0.00.
Any other possible liabilities would be for any make good costs to the vehicle that are not classed as general wear and tear, you are also required to keep the car taxed and insured up to the date of collection as this may also incur a collection charge of £250.
I will arrange the paperwork to be sent to you. If you are happy to proceed with the termination, we require you to sign and send back before we can arrange collection. Could you also let us know the location of where the vehicle is to be collected? Once we have received it we will arrange for one of our third party collection companies to contact you to arrange a suitable date and time for collection.
Please be advised, if you do choose to terminate the agreement early, The Car Finance Company would not look at refinancing you. The termination will also be shown and cause an effect on your credit file
Please could you also provide the information for the vehicle as per the below questions:
Is the vehicle driveable?
Are the tyres legal?
When is the vehicle MOT’d until?
Where is the vehicle?
Best contact number & best time to contact.
V5 available?
Spare Keys available?
Please advise if you wish to still go ahead and we can send the paper work, If you have any further questions, please do not hesitate to contact our collections team on 02392 448 646.
Kind regards
Im new to the forum so i hope i am posting in the right format/place. I used a template letter i found on one of the threads to notify the Car Finance Company that i was voluntarily terminating the hire purchase agreement. A copy of that letter is attached. Below is their response, after looking through some posts I'm pretty sure that there are a couple of things wrong with the reply - the paperwork they are planing to send out, do i need to sign this and send back? Can they charge me for collecting the car? Will this go against me on my credit file? Do i give them the v5 (i thought they had to sign the yellow part and i send it off)? lastly i have cancelled my insurance as it only covers me to drive the car shouldn't they have their own insurance?
Here is the content of the letter i sent vt of hp .docx
And here is the reply
Good afternoon
Thank you for your email
If you would like to hand the car back you can, however you are liable to pay up to half of the agreement in order to do so.
You have currently paid a total of £6688.97 and the half way point of the agreement is £4417.64, which leaves a total liability of £0.00.
Any other possible liabilities would be for any make good costs to the vehicle that are not classed as general wear and tear, you are also required to keep the car taxed and insured up to the date of collection as this may also incur a collection charge of £250.
I will arrange the paperwork to be sent to you. If you are happy to proceed with the termination, we require you to sign and send back before we can arrange collection. Could you also let us know the location of where the vehicle is to be collected? Once we have received it we will arrange for one of our third party collection companies to contact you to arrange a suitable date and time for collection.
Please be advised, if you do choose to terminate the agreement early, The Car Finance Company would not look at refinancing you. The termination will also be shown and cause an effect on your credit file
Please could you also provide the information for the vehicle as per the below questions:
Is the vehicle driveable?
Are the tyres legal?
When is the vehicle MOT’d until?
Where is the vehicle?
Best contact number & best time to contact.
V5 available?
Spare Keys available?
Please advise if you wish to still go ahead and we can send the paper work, If you have any further questions, please do not hesitate to contact our collections team on 02392 448 646.
Kind regards
