Black Horse VT request, what are my options now? Paperwork inside...

[Spit]

Hi everyone, I have had a Mercedes C220 from new purchased in September 2003. I kept the car and got a car loan arranged by Mercedes for the final balloon payment. I am getting a company car in December and last month a guy in the car trade told me about VT. Sure enough I get my agreement out and send a letter. No response so I send another and cancel my direct debit. I have a bad credit rating from past business debts this year so a missed payment to make them take notice does not bother me. I have paid well more than half and the final payment is due next July. The car really needs to go now though.

 

The car is in good order and has 176k miles on the clock. I am not upto date on servicing because it was just getting too expensive for the age/mileage of the car. My agreement does not mention about servicing, just keep in good order. There are some chips and scratches on the alloys but what can you expect with a 7 year old car with 176k mileage.

 

I got a letter back from Black horse wanting all sorts to take the car. I know I am behind on payments 3 weeks as I cancelled the direct debit which is fine so I am wiling to pay whats due but they are wanting £365.98. My normal monthly payment is £260.

 

I have the MOT and V5 documents.

 

I have scanned all paperwork for you to look at.

 

How would you guys handle this, just pay up what they want? The figure just doesnt seem to relate to anything.

 

Agreement:

 

 

The letter and stuff I just received:

 

 

 

 

 

 

 

Thanks for all you do on this forum, its the best thing on the internet!!! I tell everyone about it

[Tingy]

The termiation fee seems very fair, especially if they offer an arrangement facility to help you pay it. HOWEVER the trap is the condition of the car. I did a VT a few years ago and got badly stung by the charges piled on. You are opening yourself up to a totally open ended payment by signing that agreement. Is there no way you could take the car to the garage and get this figure agreed?

[just_jue]

Hi, with regards to the collection fee :

 

Account Number XXXXXXXXX

Dear Sir/Madam

 

Vehicle Details: Car model, Registration Number XXXX XXX

 

With regards to the £75.00 collection fee for the above vehicle it appears that you are not allowed to charge this under the consumer credit act.

 

Also the agreement may say that you have to return the goods to your original supplier or somewhere similar. You should not be asked to return the goods further away than is reasonable on the grounds of cost and distance. I do not consider (Destination of auction house) a reasonable distance. The car was purchased from ( showroom) some XX miles from my address. This is how far I am prepared to travel.

 

I await your response