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Hi,
I was wondering if someone could please help give me advice on what's legally required. this would me much appreciated.
I have taken out a car finance agreement with moneybarn.
I have passed the 50% mark with no missed finance payments and always paid on time.
I have sent the voluntary termination letter via email using a template of a legal website.
I have also called them today to make sure they are in receipt of this termination letter which they have said they have no passed to there asset team.
I sent this letter on the 1st November and payments are taken out the 15th each month.
My two queries are:
1) Am I obliged to continue monthly payments as they have said I need to wait for them to reply and the car is collected and will need to make monthly payments until this is completed. They said it usally takes two weeks which would be fine but anything more will mean I need to pay the following months payment.
2) They have said I will be breaching my contract if I do not continually have my car insured until they collect the car, I want to cancel my car insurance and sorn the vehicle. I will take full risk of my car if anything happens as it is in a secure place but they have said my car needs to be insured or they will not accept my VT.
Please may you advise on how I should proceed.
A
I was wondering if someone could please help give me advice on what's legally required. this would me much appreciated.
I have taken out a car finance agreement with moneybarn.
I have passed the 50% mark with no missed finance payments and always paid on time.
I have sent the voluntary termination letter via email using a template of a legal website.
I have also called them today to make sure they are in receipt of this termination letter which they have said they have no passed to there asset team.
I sent this letter on the 1st November and payments are taken out the 15th each month.
My two queries are:
1) Am I obliged to continue monthly payments as they have said I need to wait for them to reply and the car is collected and will need to make monthly payments until this is completed. They said it usally takes two weeks which would be fine but anything more will mean I need to pay the following months payment.
2) They have said I will be breaching my contract if I do not continually have my car insured until they collect the car, I want to cancel my car insurance and sorn the vehicle. I will take full risk of my car if anything happens as it is in a secure place but they have said my car needs to be insured or they will not accept my VT.
Please may you advise on how I should proceed.
A
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