Car finance pcp

[Anne Nesbitt]

How do I give car back without further payment charges.

[Joanne hodgins]

Re: Car finance pcp

I am thinking about doing this also any advice would be gratefully received
Thank you

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How do I get access to the VT template letter?
Thank you

[R0b]

Re: Car finance pcp

Here's an example below, adjust to suit.


Dear Sir / Madam,

TERMINATION OF AGREEMENT PURSUANT TO S.99
OF THE CONSUMER CREDIT ACT 1974

Agreement number:
Vehicle Registration:

I am writing to notify you that I wish to invoke my statutory right under section 99 of the Consumer Credit Act 1974 and hereby give you notice that the agreement is terminated effective immediately from the date of this letter. Please confirm by return acknowledgement of this letter and to make arrangements for collection of the vehicle.

The condition of the car is noted as being in a reasonable condition for its age and photographic evidence has been taken in the event of any future dispute as to the condition of the vehicle.

You will be aware that the Consumer Credit Act limits my liability to half of the total amount payable under the agreement but excludes any sum payable as a penalty, compensation or damages for a breach of the terms of the agreement. Such terms imposed are inconsistent with my rights under the Act and are therefore deemed void and unenforceable.

The vehicle is now available for collection and I would be grateful if you could contact me on [NUMBER] to arrange a suitable time within the next 14 days.

Yours faithfully,

[NAME]

[Joanne hodgins]

Re: Car finance pcp

Hi Rob

Many thanks for your prompt reply
I am a little worried about embarking on this route, which i am doing to get out of the agreement as I am in negative equity and want to get a new car with a different dealer who have advised me to choose this option after looking through my credit agreement. I do have a little damage to the vehicle which i am concerned about how much they will charge me as this does seem to be down to the finance companies discretion.
kind regards
Joanne

Here's an example below, adjust to suit.


Dear Sir / Madam,

TERMINATION OF AGREEMENT PURSUANT TO S.99
OF THE CONSUMER CREDIT ACT 1974

Agreement number:
Vehicle Registration:

I am writing to notify you that I wish to invoke my statutory right under section 99 of the Consumer Credit Act 1974 and hereby give you notice that the agreement is terminated effective immediately from the date of this letter. Please confirm by return acknowledgement of this letter and to make arrangements for collection of the vehicle.

The condition of the car is noted as being in a reasonable condition for its age and photographic evidence has been taken in the event of any future dispute as to the condition of the vehicle.

You will be aware that the Consumer Credit Act limits my liability to half of the total amount payable under the agreement but excludes any sum payable as a penalty, compensation or damages for a breach of the terms of the agreement. Such terms imposed are inconsistent with my rights under the Act and are therefore deemed void and unenforceable.

The vehicle is now available for collection and I would be grateful if you could contact me on [NUMBER] to arrange a suitable time within the next 14 days.

Yours faithfully,

[NAME]

[R0b]

Re: Car finance pcp

is the car brand new or second hand? You are required to take reasonable care of the goods, though there is no definition on this I think common sense would need to be applied. My take on what means would be something along the lines of this:

the car is in a reasonable condition meaning free from major defects both interior and exterior and any major mechanical issues which causes the car to be un-roadworthy. Damage to the paintwork (to an extent), negligent driving, broken windscreen damaging visibility, dents or scratches which is caused other than reasonable wear and tear.

What is reasonable wear and tear? any natural corrosion of the car (e.g. Ford Ka's were known to rust around fuel tank flap), scratches, stone chips caused whilst driving.

You can also help support your claim that the car is in a reasonable condition by ensuring it is regularly serviced, and having a valid MOT though just because a car does not have a valid MOT doesn't mean that it is not in a reaosnable condition as an MOT can only determine the car roadworthy on the day the test was carried out, and repairs to the vehicle mechanically to ensure the running of the car.

The list isn't exhaustive and you have to take a decision yourself as to whether or not it is in a reasonable condition. You could opt to pay a small fee for someone to carry out a condition report confirming that the car is mechanically sound and the overall condition is reasonable. Also any damage to the car that was done whilst not in your possession (for second hand cars) cannot be recovered. The onus is on the lender to prove the damage occurred in your possession.

If they do come back and charge you for certain things then it is up to you whether you want to dispute it or accept it and pay.

[Tazin8or]

Re: Car finance pcp

I am not sure I have been looking for it also