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Barclays Finance
R0b Hello,
After having done extensive research on various forums on this site and elsewhere, I think I have a somewhat good understanding of my rights in terms of ending my HP contract with Barclays Finance.
A little background information, I have already paid back 50% of my agreed amount, my car is in great condition and I’m wanting to hopefully send my VT notice within the next two weeks. However after reading a lot on your previous posts, I have one uncertainty in relation to some terms and conditions within my agreement. This is as follows:
[[ Payments you must make if you or we end this agreement and return the vehicle
If you or we terminate (end) this agreement for any of the reasons set out in this agreement you must pay us the following.
All repayments, interest and other amounts you owe on the date the agreement ends. We will tell you how much you must pay.
The cost of all repairs that are needed to bring the vehicle to a good state of repair.
Compensation or damages if you break this agreement. This will be the amount you still owe under the agreement (the outstanding balance), less the money made from selling the vehicle, after deducting the reasonable costs and expenses (including VAT) of repossessing, insuring and selling the vehicle.
Damages if you break this agreement before it ends.
All reasonable costs we must pay in repossessing, storing, insuring and
selling the vehicle and delivering it to a buyer and any sales commission we must pay. ]]
The section in particular which I am a little unsure about is the second bullet point regarding paying 'the cost of all repairs that are needed to bring the vehicle back to a good state of repair.' My question is, is this specifically in relation to if my vehicle would not meet the standards of general wear and tear? My vehicle is in more than reasonable condition for its ages and for the length of time that I have had the agreement and I am somewhat confident that no damage charges will be found. I am fully aware that signing the VT agreement they usually send out will basically mean me agreeing to paying for any damages etc when the car is given back whereby I understand that under Section 99 of the CCA, I do not have to do so. So, although I feel pretty confident that my car would come under normal wear and tear, after reading up on your posts and our legal rights, I still don't really want to sign the contract because as you said, it's not legal to do so.
I read from another post that Barclays quoted back that specific condition within the agreement and wondered what would my response be? Would I simply say that I believe the car will not require any repairs and that it is not stated within my initial agreement that I have to further sign a VT agreement when I choose to terminate? I am weary of how much stress this is going to be through reading similar stories and wondered if I am quite confident that no damage charges should be found, would it be worth just signing the agreement? I really don't want to given our legal rights but just seeing if there's alternative way around it...
Thanks in advance, your advice to others has really shaped my understanding of how this process works.
A
After having done extensive research on various forums on this site and elsewhere, I think I have a somewhat good understanding of my rights in terms of ending my HP contract with Barclays Finance.
A little background information, I have already paid back 50% of my agreed amount, my car is in great condition and I’m wanting to hopefully send my VT notice within the next two weeks. However after reading a lot on your previous posts, I have one uncertainty in relation to some terms and conditions within my agreement. This is as follows:
[[ Payments you must make if you or we end this agreement and return the vehicle
If you or we terminate (end) this agreement for any of the reasons set out in this agreement you must pay us the following.
All repayments, interest and other amounts you owe on the date the agreement ends. We will tell you how much you must pay.
The cost of all repairs that are needed to bring the vehicle to a good state of repair.
Compensation or damages if you break this agreement. This will be the amount you still owe under the agreement (the outstanding balance), less the money made from selling the vehicle, after deducting the reasonable costs and expenses (including VAT) of repossessing, insuring and selling the vehicle.
Damages if you break this agreement before it ends.
All reasonable costs we must pay in repossessing, storing, insuring and
selling the vehicle and delivering it to a buyer and any sales commission we must pay. ]]
The section in particular which I am a little unsure about is the second bullet point regarding paying 'the cost of all repairs that are needed to bring the vehicle back to a good state of repair.' My question is, is this specifically in relation to if my vehicle would not meet the standards of general wear and tear? My vehicle is in more than reasonable condition for its ages and for the length of time that I have had the agreement and I am somewhat confident that no damage charges will be found. I am fully aware that signing the VT agreement they usually send out will basically mean me agreeing to paying for any damages etc when the car is given back whereby I understand that under Section 99 of the CCA, I do not have to do so. So, although I feel pretty confident that my car would come under normal wear and tear, after reading up on your posts and our legal rights, I still don't really want to sign the contract because as you said, it's not legal to do so.
I read from another post that Barclays quoted back that specific condition within the agreement and wondered what would my response be? Would I simply say that I believe the car will not require any repairs and that it is not stated within my initial agreement that I have to further sign a VT agreement when I choose to terminate? I am weary of how much stress this is going to be through reading similar stories and wondered if I am quite confident that no damage charges should be found, would it be worth just signing the agreement? I really don't want to given our legal rights but just seeing if there's alternative way around it...
Thanks in advance, your advice to others has really shaped my understanding of how this process works.
A
