To avoid this, send them a letter stating that you are requesting a voluntary termination. You don`t need to sign documents or fill out termination packages. The citizens` council provides a model letter to this effect. You say that the pre-execution liability is “usually” used to describe the money owed in arrers/overdue payments? Both are not applicable in my case. Can you confirm that excess mileage charges cannot be included in this point? It is detailed in the CCA and, if it is a way for them to steal mileage taxes, then the whole article is wrong and I hope that is not the case. Please let us know. I am about to go back to them with regard to mileage, which was not considered a condition, but just asked me where I was on another point. Just because you`ve written a demanding letter/bill doesn`t mean you have to pay for it. Stay firm and make it clear that you understand the law and your contractual position, and they will probably fall back – at least on mileage and J something (!). Damage to the stone chip will be a matter of interpretation, but $328 is not unreasonable if the car needs a varnish. Here, too, it depends on what you and you think is “reasonable,” and that is a grey area of the law. Hello, I took a car on finance 18 months ago and I am willing to pay the rest of the 50% borrowed.
I`ve been waiting for my car in 18 months, will it affect the voluntary layoff? Thank you If it is a personal loan, you have no right to voluntarily terminate. Check your financial documents – if you have VT rights, they are clearly formulated in a particular clause. A private loan is not protected against the vehicle, so the financial company is not interested in the car – you simply owe them the money you borrowed – interest and fees. Voluntary termination only applies to secure financing agreements such as PCP or HP. Before you make a financing deal, it`s worth making your money – and always reading the fine print. Some financing agreements charge extra to cancel prematurely, so it`s best to know about this early on. These are described in detail in the treaty. Hey, Stuart. My wife bought a car on the 13th this month through HP dealers.
We have decided that the refunds are too high and we want to pay the car with our savings. The car cost $6,000, and we paid $1,000 in bail and we allowed 1,500 $US, ex on our old car. Can we terminate the HP contract and pay directly for the car, and if we do, we will have other costs from the financial company? We will examine a consumer law built into all regulated personal contracts (PCPs) and leases — your right to voluntary termination (VT). They need appropriate legal advice to argue these points with them. Pre-termination liability is generally used to describe money that is in possession of arrears or outstanding payments, not for mileage arguments. SALUT Stuart, I bought a 6 month Vauxhall Astra from a senior trader with a one-year financial contract. The vehicle obviously came with the initial three-year warranty, but I was concerned that if something were to happen after that period, I would have to pay the bill. To cement the agreement, the dealer gave me a Q network warranty for the remaining two years that I don`t know, which was useless, because I used the car as a school car. The dealer knew it would be a drive vehicle, as we had bought it before. If you buy a car on the finances, you have the right to return the car and terminate the contract.
Depending on the amount you paid, you may no longer have to pay. Thank you for the information you provided in this article. I recently voluntarily returned a Mercedes A-Class and unfortunately I signed the VT confirmation letter that Mercedes Finance sent me. You sent me an invoice of $2421 for extra miles