Voluntary termination
Discussion
Hi guys, long story, but I'll be brief!
The wife bought a ten year old jag x type on HP a couple of years ago, it was tatty and a bit rough but mechinacaly sound.
We are going through VT with the finance company, the car is now well over 100k miles and still a bit rough round the edges, they say we will be charged for any damages they find on the car, however when we bought it it was quite scratched and a bit worn out.
They say it doesn't matter that the car was a bit tatty when we first got it, and it's irellevant its now 12 years old, am I being optimistic here or are they being unfair?
They have said it will treated the same as a car that is new!
The wife bought a ten year old jag x type on HP a couple of years ago, it was tatty and a bit rough but mechinacaly sound.
We are going through VT with the finance company, the car is now well over 100k miles and still a bit rough round the edges, they say we will be charged for any damages they find on the car, however when we bought it it was quite scratched and a bit worn out.
They say it doesn't matter that the car was a bit tatty when we first got it, and it's irellevant its now 12 years old, am I being optimistic here or are they being unfair?
They have said it will treated the same as a car that is new!
R55 Blue said:
Hi guys, long story, but I'll be brief!
The wife bought a ten year old jag x type on HP a couple of years ago, it was tatty and a bit rough but mechinacaly sound.
We are going through VT with the finance company, the car is now well over 100k miles and still a bit rough round the edges, they say we will be charged for any damages they find on the car, however when we bought it it was quite scratched and a bit worn out.
They say it doesn't matter that the car was a bit tatty when we first got it, and it's irellevant its now 12 years old, am I being optimistic here or are they being unfair?
They have said it will treated the same as a car that is new!
How much is still outstanding on the finance if I may be so rude?The wife bought a ten year old jag x type on HP a couple of years ago, it was tatty and a bit rough but mechinacaly sound.
We are going through VT with the finance company, the car is now well over 100k miles and still a bit rough round the edges, they say we will be charged for any damages they find on the car, however when we bought it it was quite scratched and a bit worn out.
They say it doesn't matter that the car was a bit tatty when we first got it, and it's irellevant its now 12 years old, am I being optimistic here or are they being unfair?
They have said it will treated the same as a car that is new!
When you say going through the VT process - have you filled in any of the forms they've sent you, or used the wording/letters you find on the internet?
If you've signed anything they sent (often under the guise of being helpful/making it easier) you may have formed a new contract in which you agree for damages to be assessed however they see fit. IF you've sent the letters from legal beagles using templates then you're on much better ground.
If you've signed anything they sent (often under the guise of being helpful/making it easier) you may have formed a new contract in which you agree for damages to be assessed however they see fit. IF you've sent the letters from legal beagles using templates then you're on much better ground.
R55 Blue said:
1200 and a few pennies
Depending on the charges for early termination to bring it back to the condition acceptable to them as per your agreement, it might be cheaper for you to keep it and pay off the outstanding amount if the car is that tatty.These costs soon mount up.
R55 Blue said:
No no forms filled in, I thought about selling it but an hoo check will show finance outstanding
As long as you pay that off to the satisfaction of a potential buyer that should not be an issue. They pay you, you pay off the finance in their presence and you keep whatever is left over and they drive away in their new car.Everyone is happy
Monkeylegend said:
As long as you pay that off to the satisfaction of a potential buyer that should not be an issue. They pay you, you pay off the finance in their presence and you keep whatever is left over and they drive away in their new car.
Everyone is happy
In that case the car is effectively worthless as the sale value almost certainly won’t exceed the value owed Everyone is happy
sleepera6 said:
Monkeylegend said:
As long as you pay that off to the satisfaction of a potential buyer that should not be an issue. They pay you, you pay off the finance in their presence and you keep whatever is left over and they drive away in their new car.
Everyone is happy
In that case the car is effectively worthless as the sale value almost certainly won’t exceed the value owed Everyone is happy
Unless he can terminate for a few £'s it's probably more cost effective to continue the agreement to completion, unless of course the car is so bad it won't make it that far.
R55 Blue said:
We have paid more than 50% I think they know it’s worth very little and are trying to claw back what they can.
Check with finance company if you have paid of the more than 50% of the TOTAL owed which includes the interest.If you have you should be able just to return the car.
You can argue that the scratches are acceptable on a 12 year old car with 100k+ miles.
Check your T&Cs.
Do the finance company know the condition of the car when you bought it though?
You said it was tatty and a bit rough and you might have taken reasonable care of it in as much as it is no worse now two years later.
However the finance company will see it as it is when you hand it back and argue you haven't met the reasonable care interpretation.
You said it was tatty and a bit rough and you might have taken reasonable care of it in as much as it is no worse now two years later.
However the finance company will see it as it is when you hand it back and argue you haven't met the reasonable care interpretation.
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