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Voluntary termination- final liability Help !

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  • Voluntary termination- final liability Help !

    I have called my finance company to VT my vehicle. I first called them on 13th of October and they told me there was £400 outstanding to reach 50% of my agreement. I made this call because I might be working from home for a long period due to covid and was awaiting confirmation

    I then called them today to VT as I received confirmation that I will be working from home for at least year so no longer need the vehicle they then told me that I now have to pay £600 liability. My agreement started on the 14th of the month but I pay at the end of each month so they said because I have kept the vehicle for an extra two weeks their system automatically generated that I need to pay the £200 for this month which takes it to £600

    I refused as I am led to believe that as long as I pay 50% of agreement there will be nothing else to pay am I correct if I pay £600 I would have gone over 50% or at the very least they should say I should pay two weeks payment not a month

    please help
    Tags: None

  • #2
    You can't call your finance company and terminate the contract, you have to write to them. Have you done this?

    Unless the due date has passed, you dont owe anything for that month.
    If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
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    LEGAL DISCLAIMER
    Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.

    Comment


    • #3
      Thank you for your response yes I have sent them
      an e-mail the payment due date is the 30th but because a new month started on the 14th and I have used the vehicle since then they say I am liable to pay for the month. When I questioned this they said it’s system generated and they can’t do anything about it

      Comment


      • #4
        Start date of the agreement is irrelevant, payment is not due until 30 October so until that date passes you are not liable to pay, especially if you have exceeded the 50% threshold.
        If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
        - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
        LEGAL DISCLAIMER
        Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.

        Comment


        • #5
          Thank you for your response. £400 will take me to 50% which I am happy to pay it’s just the other £200 they are demanding for the “month” which I find unfair as it takes me over 50%. I have sent them the e-mail and will keep you updated with their response. Thank you for your response !!

          Comment


          • #6
            Then pay the £400 if that's what you are liable for and dispute the rest.
            If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
            - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
            LEGAL DISCLAIMER
            Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.

            Comment

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