VT With RCI Financial Services

[frankekers]

I sent an email yesterday to RCI Financial services to advise them I am terminating the PCP agreement with immediate effect, using the Legal Beagles template for this.* They have replied advising the following:

"Good Afternoon,
*
Thank you for contacting us regarding Voluntary Termination.* In order to Voluntary Terminate, you need to have reached the point where you have paid over half the total amount payable in your contractual agreement.* I can confirm as of 10/12/2019 you have reached this point.** Please note the annual mileage allowance of your agreement is 15,000 and* should you exceed this amount you will be charged 8p per mile.
**
Should you wish to go ahead with this termination, please contact our End of Agreement team on 0330 331 0228*who will start the process for you.* Documentation will be sent to yourself which will need to be signed and returned, and upon receipt of the signed documents we will then terminate your Agreement and cancel your direct debit.
*
Your details will be passed to our collection agency Manheim or Wilsons (depending on your location). They will contact you directly to arrange the collection of your vehicle; please be advised, the timescales for the collection is 3 to 4 weeks.* Your vehicle will be inspected by an agent within the BVRLA guidelines of Fair Wear and Tear, which can be viewed on the link below –
*
http://issuu.com/bfwsn67/docs/bvrla_...01091/14043913
*
Upon completion of the inspection, you will need to sign a copy of the report.* This will then be sent to our team to review and any charges that may be applicable will be sent to yourselves.* Please be advised that our End of Agreement team will confirm all figures in relation to half liability and other charges.* We advise that it is your responsibility to ensure the vehicle is roadworthy, which includes:
*
• All tyres are within the legal tread limit • No cracks or chips on windscreen and windows • The vehicle has*a valid MOT Should the vehicle be deemed not roadworthy, our collection agents will be unable to collect the vehicle, and an abort fee of £168 (inclusive of vat) will be charged.* Should you wish to discuss any aspect of the collection or termination, please contact our end of Agreement team on 0330 331 0228 or email*vtteam@rcibanque.com."


I am assuming that I am under no obligation to provide them with signed documentation for them to then terminate, my email was notice of termination, but could someone confirm please?

Thanks,

Frank.







**





*

[R0b]

Yes, your only legal requirement is to give notice in writing to RCI. Anything else is above and beyond your obligation to validly terminate the agreement.

[frankekers]

Thanks Rob, will let you know what they reply.

Frank

[R0b]

I've updated the VT guide in some areas like end of contract charges and excess mileage so it might be worth a read, should give you everything to deal with the matter yourself but is still very much a work in progress when I have time to update it.*

https://legalbeagles.info/forums/forum/legal-forums/motoring-parking/vehicle-finance-and-issues/77730-a-guide-to-voluntary-termination-your-right

[frankekers]

Thanks Rob.

RCI FS replied by saying that I needed to sign documentation...

"Documentation will be sent to yourself which will need to be signed and returned, and upon receipt of the signed documents we will then terminate your Agreement and cancel your direct debit."

I called them and advised them that the original email was sufficient in law to terminate the agreement. They then said they needed a signature to confirm my identity. I replied that as they had already confirmed this by asking security questions, was that actually needed at that point? After speaking to a supervisor, the person from RCI FS advised it was not needed.

They then sent me another email asking me to complete and sign a form to confirm the amount outstanding, which was incorrect, and what the mileage was. I simply stated it was wrong and that there was no amount outstanding and confirmed the mileage of the vehicle.

The form that they wanted me to sign contained the following paragraph...

"I am exercising my right to voluntary terminate the above Agreement. I understand how any liability amount will be calculated and the process for returning the car has been fully explained to me. I agree that I will settle any charges for collection of the vehicle (where this option has been ticked below), damage, missing items and/or excess mileage charges as invoiced by you."

I of course didn't sign this as I do not agree to paying excess mileage costs etc.

Will update you as and when I hear from them again.

Frank.