Advantage Finance VT help :)

[theoldrouge]

You VT under s99, not their terms s99 is statutory for your protection

 

99 Right to terminate hire-purchase etc. agreements.

 

(1)At any time before the final payment by the debtor under a regulated hire-purchase or regulated conditional sale agreement falls due, the debtor shall be entitled to terminate the agreement by giving notice to any person entitled or authorised to receive the sums payable under the agreement.

(2)Termination of an agreement under subsection (1) does not affect any liability under the agreement which has accrued before the termination.

(3)Subsection (1) does not apply to a conditional sale agreement relating to land after the title to the land has passed to the debtor.

(4)In the case of a conditional sale agreement relating to goods, where the property in the goods, having become vested in the debtor, is transferred to a person who does not become the debtor under the agreement, the debtor shall not thereafter be entitled to terminate the agreement under subsection (1).

(5)Subject to subsection (4), where a debtor under a conditional sale agreement relating to goods terminates the agreement under this section after the property in the goods has become vested in him, the property in the goods shall thereupon vest in the person (the “previous owner ”) in whom it was vested immediately before it became vested in the debtor:

Provided that if the previous owner has died, or any other event has occurred whereby that property, if vested in him immediately before that event, would thereupon have vested in some other person, the property shall be treated as having devolved as if it had been vested in the previous owner immediately before his death or immediately before that event, as the case may be.

[theoldrouge]

In view of the cars condition, I would advise you also organise your own expert independent inspection

 

Do not take any action prior to receiving reports

[dx100uk]

might pay you to take lots of photos too

bodywork

inside

engine

underneath

 

 

dx

[Bardogirl]

Update.

 

Got the report back today. It says that the problems which I am having were unlikely to be present at the time of sale and that I am responsible for the repairs.

 

They have said that they know this isn't the answer I was hoping for and have said that they will lower my monthly payments to help me pay for repairs.

 

 

The account would fall into arrears but with no charges added.

 

Now all the report states is that the engine would not start and this was due to camshaft sensor found by doing a live diagnostic scan.

 

I knew this before they came out. Nothing's been mentioned about the back box I had to have replaced.

 

They've said they hope this will be a satisfactory response and if not provided the obudsmans details.

 

I don't know what to do now.

 

 

My dad seems to think I should get the now expired car MOT done

and see if there are any more problems with it to Throw at them.

 

 

I don't know whether to just pay to get it sorted.

 

 

Had no vehicle for a month and paying for this on top of public transport to get me to and from work is proving costly!

 

Any advice? Thanks as always

[Peterbard]

Personally i would do lust enough to get the car running then commence the VT procedure it would be advisabe to get it through the MOT if you can.

 

Contrary to what they would have to believe you do not have to have paid 50% of the total amount payable in order to VT, this can be confirmed by national debt line or any other advisory services. The act says tht you can VT at any time.

 

They would have to then pursue you for any amount they considered you owed after the return, you can then argue your case in the county court although my experience is that they dont usually take t that far(they will however huff and puff).

 

This the letter I generally recommend( apologies if ther are others on here), send it half way through the payment cycle and state the the next contractual payment will be the last and after this the agreement will be terminated.

 

VOLUNTARY TERMINATION OF AGREEMENT

 

Account No: (CAR MAKE/MODEL/REGISTRATION NO.)

 

I am/we are writing to notify you that I am/we are exercising my/our right to terminate the above Agreement under Section 99 of the Consumer Credit Act 1974. You will understand that the aforementioned section permits the debtor to terminate the agreement at any time before the last payment is due. There is no restriction regarding the exercising this statutory right, particularly none in respect of any perceived arrears or monies due on termination

 

I/we understand that I shall/we will be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974. Please forward notice of any sums lawfully due for consideration and payment.

 

The above agreement will be terminated 14 days from the date of this notice.**

 

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

 

You will be aware that statute prevents you from levying a charge for the recovery of this vehicle. Guidelines also state that if you require me to deliver this vehicle, it must be no more than a short (reasonable distance) from my registered address.

 

Please confirm receipt of this request by telephone/fax to me/us on (your telephone number or fax number), or via email at (your email address).

[obiter dictum]

Dodgeball

 

Can you give a link to statute where it states the creditor cannot charge a collection fee when doing a VT for my own records?

 

Thanks

[Peterbard]

you must vt

 

 

why will you be responsible for mot and repairs?

 

 

its their car anyway they should have paid for repairs

 

 

dx

 

DX the hirer is responsible for keeping the vehicle in reasonable condition whilst it is on hire.

[Peterbard]

Dodgeball

 

Can you give a link to statute where it states the creditor cannot charge a collection fee when doing a VT for my own records?

 

Thanks

 

HI

 

It is more a question of where it isn't, the liability on VT is itemised in section 100, there is no mention of any recovery fees, only the ones stated.

 

By the time of recovery, the agreement will be terminated an have nothing to do with the debtor, it is therefore for them to recover their goods. The advice given by motoring organisations is that the debtor should return the vehicle themselves if it is only a short drive away say half an hour, other wise the creditor should collect at no charge, but this is only guidance he is under no statutory instruction to do so.

 

Their have been cases where a finance company has refused to collect a vehicle and the ex hirer has successfully claimed storage fees through the small claims court.

 

In these cases the finance company almost always come back with their interpretation of the section but they invariably give way. There is lots of information on this on the web the best in my view being on national debt line.

[obiter dictum]

yep, that is why i asked

 

There the issue lies in the ambiguity of statute. As always in these matters it will be down to the courts to decide on what the true intentions of Parliament were when drafting the legislation.

 

I have seen quite a few posts on other forums where the creditor has tried to levy collection fees, which is clearly wrong to try and discourage the termination of the agreement

[Peterbard]

yep, that is why i asked

 

There the issue lies in the ambiguity of statute. As always in these matters it will be down to the courts to decide on what the true intentions of Parliament were when drafting the legislation.

 

I have seen quite a few posts on other forums where the creditor has tried to levy collection fees, which is clearly wrong to try and discourage the termination of the agreement

 

Yes but as said if there were any intention of charging these fees it would have been included in section 100.

Also the hirer may have a duty of care in relation to third party goods under common law, but he does not have any reason in law to suffer detriment. It may be that he is having to store the companies car on is drive and his own on a pay and display car park for instance, his losses would be directly due to the ompany

[theoldrouge]

How independent was the report?

 

I would advise you to obtain your own expert report prior to VT

 

Their report seems a tad to convenient to me

[Bardogirl]

Wow. Further update.

 

I gave the garage to go ahead to fix the cam shaft sensor and to run the MOT.

 

The garage have just called me, he fitted the part and this has made no difference whatsoever. He has checked the car over properly and in fact it is the timing chain which has gone. He has said this is quite a big job as the car will need to be stripped down and costs a fair bit.

 

The garage owner is being so helpful, he has said won't charge me for the repair and advises I go to citizens advice. He said he will speak to the finance company if needed as he feels they are treating me unfairly.

 

I hadn't even driven as many miles as I thought...just over 700 in 5 months.

 

Do I stop payments to the finance company or will this just make things worse?

 

Many thanks,

 

[dx100uk]

I wouldn't stop paying yet no.

[Bardogirl]

Thanks

 

What a stress!

[theoldrouge]

I would strongly suggest that before you proceed further you obtain an independent vehicle inspection report

 

You need an expert report that a court will accept

 

Whilst they can be expensive, it is nothing compared to the loss you will suffer via VT

 

In view of the fact that the faults became apparent almost immediately after purchase and you have only covered 1100 miles since purchase

 

Imo you could build a good case for both a refund and compensation for any losses you have suffered as a result

 

Do not let your garage dispose of any replaced parts

[theoldrouge]

https://www.citizensadvice.org.uk/consumer/cars-and-other-vehicles/buying-a-car/buying-a-used-car/what-to-watch-out-for-when-buying-a-used-car/getting-an-independent-report-about-a-car-s-condition/

[Bardogirl]

Hi everyone.

 

To cut a very long story short the auction house came and picked the vehicle up yesterday. I have incurred no further costs for any repairs/handing the car back and have received a chunk of money back which I am happy with. Could have pushed it further but I just wanted it gone.

 

My questions now is, I forgot to bring the V5 to give to the person who came to pick the car up. He said the vehicle will be sold at auction on Tuesday so they will need it for then and asked if I can post it which is no problem. I just don't know which bit I need to post?

 

I have already informed the DVLA of the change of hands on line and it says to destroy the little yellow slip part of the V5. Which bit do I send to the auctioneer?

 

Thanks in advance