Voluntary terminate car finance?

[SeanG79]

Sorry I misread your last post, you are not looking to cancel the agreement, you are looking to enforce your right to voluntarily terminate the agreement, they are different.

[john]

Ah, thanks. I have just checked and I have paid well over the amount needed for this.

[postggj]

Agreed

 

The cancellation bit is that you cant cancel the agreement because you signed it on trade premiss

 

Does not effect the 50 % termination point though as already mentioned

[john]

Is this letter OK? Have I missed anything out or added anything I shouldn't, please? I am going to send it next day recorded deliver tomorrrow. Thanks

 

 

 

 

I am writing to notify you that I am exercising my right to terminate the above agreement under Section 99 of the Consumer Credit Act 1974.

 

I understand that I will be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974. That is £6811.28 less any amounts paid including any deposit. That total is £9940.98.

 

There are no payments outstanding on this account. Should any payment be due for part months or any other reason please send a final invoice.

 

I believe this vehicle to be in reasonable condition and I have always taken good care of the vehicle, excepting normal wear and tear. I have photographic evidence of this.

 

Please send me details of how the vehicle can be returned to you.

 

Please confirm receipt of this request by telephone to me on

Edited July 3, 2013 by john
adding info

[postggj]

Send recorded delivery, to speed things up you can email, but always back up with a hard copy

[john]

Thanks. Will do.

[Gaston Grimsdyke]

Is this letter OK? Have I missed anything out or added anything I shouldn't, please? I am going to send it next day recorded deliver tomorrrow. Thanks

 

 

 

 

I am writing to notify you that I am exercising my right to terminate the above agreement under Section 99 of the Consumer Credit Act 1974.

 

I understand that I will be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974. That is £6811.28 less any amounts paid including any deposit. That total is £9940.98.

 

There are no payments outstanding on this account. Should any payment be due for part months or any other reason please send a final invoice.

 

I believe this vehicle to be in reasonable condition and I have always taken good care of the vehicle, excepting normal wear and tear. I have photographic evidence of this.

 

Please send me details of how the vehicle can be returned to you.

 

Please confirm receipt of this request by telephone to me on

 

When is your payment due date? You should VT as close as possible a due date, that way you get to use the car for up to 30 days free. For example, if your due date is the 15th July, your VT liability would be exactly the same on 16th July as it would be on 14th August, so why not use it up to the very last minute? There is no concept of part monthly payments. I would fax over your letter on the day before your next instalment falls due, that will be sufficient for the purposes of section 99.