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Voluntary Termination of PCP - Excess Mileage
Hi,*
I am aware that this question has been asked on multiple occasions, however, I would like to ask it once more and explain my circumstances.*
I bought a car from a well known German car maker in September of 2017. The car was on a 0% APR deal so I am currently at my VT stage, well within 4 weeks of it. I believe the car was mis-sold to me. The dealer was just looking for a sale and misleading me in various different areas (yes, some more due diligence checks from me wouldn't have gone amiss) such as the below, from which I wrote down in my notes of the book that I took with me at the time (all of the below is noted on file when I logged a complaint):*
1. The dealer said that the excess mileage was 5.5p a mile, whereas the actual figure is 7.65p per mile.
2. The dealer stated that at time of VT or at the time when I swap the car, the excess mileage figure is ignored.*
3. The dealer stated that my deposit (equity from a previous car) was £4,000, however when I got the agreement, the actual figure was closer £2,500.
4. Possibly most importantly, I NEVER received a quotation in writing from them despite asking on several occasions.*
5. The 0% deal was exactly the same figure on exactly the same car when the APR was 3.9%.*
I am now in a horrific position with my car financially. I am in a lot of negative equity and the VT route is the most cost effective route for me.*
Now, after I believe the car was mis-sold to me, here's where the story gets more interesting. The car has been plagued with faults since day one, as below (ALL OF WHICH IS DOCUMENTED IN COMPLAINTS TO THEMANUFACTURER FINANCIAL SERVICES TEAM):*
1. The boot latch failed after 1 month of having the vehicle. Lost time with the vehicle, approx. 1 week.
2. Something in the transfer box failed, the transfer box and gearbox had to be replaced. Lost time with the vehicle, approx. 4 weeks.
3. The car kept having an intermittent fault where the engine would cut out and all electrics of the vehicle would die.*
So now I am planning to VT the car and get out of this horrific deal. There is a couple of scuffs on the car and some scuffs on the wheels but I will get this sorted (I detail cars) so I can't see them charging me for this after I have spruced up the car and treated the scuffs and scratches.*
The issue now is the excess mileage and reading various different threads and various different articles, my understanding is that they contract you to paying these penalty charges, however, you have no legal obligation to pay these penalties as after the 50% mark it's their problem after you've got rid, so to speak, and the finance companies just use bullying tactics to scare you and make you pay up.*
Please can you advise?*
*
I am aware that this question has been asked on multiple occasions, however, I would like to ask it once more and explain my circumstances.*
I bought a car from a well known German car maker in September of 2017. The car was on a 0% APR deal so I am currently at my VT stage, well within 4 weeks of it. I believe the car was mis-sold to me. The dealer was just looking for a sale and misleading me in various different areas (yes, some more due diligence checks from me wouldn't have gone amiss) such as the below, from which I wrote down in my notes of the book that I took with me at the time (all of the below is noted on file when I logged a complaint):*
1. The dealer said that the excess mileage was 5.5p a mile, whereas the actual figure is 7.65p per mile.
2. The dealer stated that at time of VT or at the time when I swap the car, the excess mileage figure is ignored.*
3. The dealer stated that my deposit (equity from a previous car) was £4,000, however when I got the agreement, the actual figure was closer £2,500.
4. Possibly most importantly, I NEVER received a quotation in writing from them despite asking on several occasions.*
5. The 0% deal was exactly the same figure on exactly the same car when the APR was 3.9%.*
I am now in a horrific position with my car financially. I am in a lot of negative equity and the VT route is the most cost effective route for me.*
Now, after I believe the car was mis-sold to me, here's where the story gets more interesting. The car has been plagued with faults since day one, as below (ALL OF WHICH IS DOCUMENTED IN COMPLAINTS TO THEMANUFACTURER FINANCIAL SERVICES TEAM):*
1. The boot latch failed after 1 month of having the vehicle. Lost time with the vehicle, approx. 1 week.
2. Something in the transfer box failed, the transfer box and gearbox had to be replaced. Lost time with the vehicle, approx. 4 weeks.
3. The car kept having an intermittent fault where the engine would cut out and all electrics of the vehicle would die.*
Lost time with the vehicle, approx. 4 weeks.
4. refer to no. 3, this happened two more times.*Lost time with the vehicle, approx. 6 weeks.
Some of the above have been life threatening instances and when they told me they thought they found the issue of the intermittent issue and replaced the required part, I later found out that said part was not replaced.
4. refer to no. 3, this happened two more times.*Lost time with the vehicle, approx. 6 weeks.
Some of the above have been life threatening instances and when they told me they thought they found the issue of the intermittent issue and replaced the required part, I later found out that said part was not replaced.
So now I am planning to VT the car and get out of this horrific deal. There is a couple of scuffs on the car and some scuffs on the wheels but I will get this sorted (I detail cars) so I can't see them charging me for this after I have spruced up the car and treated the scuffs and scratches.*
The issue now is the excess mileage and reading various different threads and various different articles, my understanding is that they contract you to paying these penalty charges, however, you have no legal obligation to pay these penalties as after the 50% mark it's their problem after you've got rid, so to speak, and the finance companies just use bullying tactics to scare you and make you pay up.*
Please can you advise?*
*
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