WWW.MOUNTBATTENCARSALES.CO.UK/Close Brothers - Faulty car

[theoldrouge]

OK so slight differences in the figures as you originally said

£6318 left to pay so take that from £11662 would mean you had paid £5344 but now you say inc deposit you have paid £5023 towards the agreement with any interest adjustment as dx says your max liability is £808. What the car fetches at auction is neither here nor there to you as you do not receive any money from the sale, It all goes to CB to help towards their considerable losses

Normally I would advise sending a SAR to double check for a Default However in your case personally I would just get on with it as if CB realise what has happened they may issue a DN pretty quick , You need to realise you have been exceptionally lucky so far and could walk away from this mess with a profit of £1500 to £2000

My advice would be GET ON WITH IT

Click VT for information 

[Giraffegirl13]

Will look into it asap thanks 

[Giraffegirl13]

If I VT they're gonna make me pay for all the repairs!

 

 

[dx100uk]

they cant, not  your problem.

 

 

[Giraffegirl13]

"Good morning, 

Customers can voluntarily terminate their agreements in order to return an asset to a lender. Customers are liable up to the half paid amount on an agreement plus any wear and tear that that falls outside of the BVRLA standards ( BVRLA BVRLA Fair Wear & Tear).

If customers is less than half paid and have any liability following the inspect and collect of an asset, they are required to pay this to the finance company in full. If they are not able to do so, the liability will be transferred to a Debt Collection Agency in order for a payment plan to be put in place. 

A Voluntary Termination shows on the credit profile as an asset having been handed back. If there is unpaid liability this will show as an amount outstanding on the credit profile – it will be recorded on the Credit Profile as a Default for the amount unpaid."

No way is the dead car on my drive "normal" wear & tear?

[dx100uk]

but the damage is not thru W&T.

 

[Giraffegirl13]

Have I got mixed up? I thought it was W&T acceptable and everything else I have to pay for?

Eg the fact it needs a whole new engine!?

[dx100uk]

nope.

dx

 

 

 

[theoldrouge]

All you need to do is to send the VT letter stating that the agreement will terminate on  xx/xx/2023,

that they then must collect their car for which no charge can be levied for collection

If and when they invoice you we can then deal with that

You will only be paying that which is necessary to bring the amount paid to 50% of the agreement 
All finance companies hate VT and are full of bluster

[Giraffegirl13]

This is what I've been told & emailed:

 

Good afternoon,

Thank you for your recent email confirming you wish to proceed with voluntary termination of your finance agreement.

Your agreement has been transferred to our Asset Recovery Team who will manage your agreement throughout the termination process.

To confirm, you have not paid over 50% of your agreement and your agreement is in arrears of £360.50 for 2 missed payments. Therefore, your liability is £487.75 plus any excess damage deemed outside of fair wear and tear.

We’ve now shared your information with our vehicle inspection agent DMN who will be in contact within the next 5-10 working days to arrange an inspection.  Following the inspection a copy of the inspection report will be emailed to CBMF usually within 24 hours, who will then endeavour to contact you within 72hrs of receiving the report to discuss any damage/mileage costs.

Please follow the link below to access our fair wear and tear guides.

https://www.closemotorfinance.co.uk/customers/finance-explained/information-and-advice

Any excess damage above fair wear and tear will be chargeable.

Inspection Process;

• DMN will telephone and agree a suitable time/day for inspection 
• Place the vehicle documents V5, MOT/service history and the spare key (s) inside a sealed envelope and have them available for the inspection
• The DMN Driver will contact you prior to arrival 
• The driver will complete a vehicle inspection to confirm that the vehicle is in an acceptable condition and then take the vehicle to complete collection
• The driver will attempt to obtain a signature where possible – a doorstep photo will be taken in its absence.

Following this, we’ll then share your information with our vehicle collection agent Motor Auction Group who will be in contact within 5-10 working days to arrange collection of your vehicle, once collected the vehicle will then go into the next available auction and your agreement with CBMF will be terminated. Your credit profile will be updated, and where applicable, any outstanding liabilities will be transferred to our debt collection agency.

Collection Process;

• MAG will telephone and agree a suitable time/day for collection 
• Place the vehicle documents V5, MOT/service history and the spare key (s) inside a sealed envelope and have them available for the inspection
• The MAG Driver will telephone the customer an hour prior to arrival 
• The driver will then take the vehicle to complete collection 

You’ll be required to complete section V5C/3 (Yellow Section) of your logbook and return this to the DVLA.

[dx100uk]

yep all std.

when they get the vehicle you do NOT sign anything. as usually that means you take responsibility for anything outside W&T, which is wrong!! that they deem so.

what they get at the auction is their problem.

dx

 

[Giraffegirl13]

Ok - I'll sort this out asap and see what happens