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Good Evening Legal beagles.
I was in a position to VT my vehicle with Motonovo at the beginning of December as was recently made redundant and we had no need for two vehicles in our home. This was accepted by Motonovo, they also wrote to me in the middle of december confirming the request to VT and also to state that I had a liability of £240.42
The vehicle was collected last week by Motonovo's collection agent and was marked as no need for refurbishment and has been taken to auction
I received a letter from Motonovo dated 6th January the day after the collection - talking about the collection etc and having the opportunity to review
They have written that the currently liability is at £240.42 and asking for payment within 30 days.
The next paragraph reads as this
"We would point out that your liability is limited to the the amount required to settle the agreement. This may be further reduced after the proceeds of sale have been credited to your agreement, following the sale of the vehicle. You will receive confirmation of the final amount due shortly."
I called Motonovo this evening and asked them to explain this and wasn't fully convinced on the response that needed to be checked twice with a manager. I asked what does this mean and does this mean that the sale of the car at auction will place my liability into a positive and I would be due monies back. The call handler fumbled on this stating that I owed the full amount on the agreement and this means whatever they get from the vehicle is a way for them to recover their losses as they would have been due the full amount over the term of the agreement. I reminded him of the VT and this had been accepted and that the vehicle was collected with no refurbishment required.
The call handler wasn't very confident on this and agreed it sounded like my liability would be reduced however his default position was that if the car sold for a £1 or £10,000 at auction this wouldn't matter and the liability of £240.42 still stands
Any help would be greatly welcomed
Many thanks
A
I was in a position to VT my vehicle with Motonovo at the beginning of December as was recently made redundant and we had no need for two vehicles in our home. This was accepted by Motonovo, they also wrote to me in the middle of december confirming the request to VT and also to state that I had a liability of £240.42
The vehicle was collected last week by Motonovo's collection agent and was marked as no need for refurbishment and has been taken to auction
I received a letter from Motonovo dated 6th January the day after the collection - talking about the collection etc and having the opportunity to review
They have written that the currently liability is at £240.42 and asking for payment within 30 days.
The next paragraph reads as this
"We would point out that your liability is limited to the the amount required to settle the agreement. This may be further reduced after the proceeds of sale have been credited to your agreement, following the sale of the vehicle. You will receive confirmation of the final amount due shortly."
I called Motonovo this evening and asked them to explain this and wasn't fully convinced on the response that needed to be checked twice with a manager. I asked what does this mean and does this mean that the sale of the car at auction will place my liability into a positive and I would be due monies back. The call handler fumbled on this stating that I owed the full amount on the agreement and this means whatever they get from the vehicle is a way for them to recover their losses as they would have been due the full amount over the term of the agreement. I reminded him of the VT and this had been accepted and that the vehicle was collected with no refurbishment required.
The call handler wasn't very confident on this and agreed it sounded like my liability would be reduced however his default position was that if the car sold for a £1 or £10,000 at auction this wouldn't matter and the liability of £240.42 still stands
Any help would be greatly welcomed
Many thanks
A
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