Backing a car under halves and thirds.
Discussion
A friend has a big ole barge on 5years HP which is well over half way. The car is turning into a moneypit and will need an infusion of 2+ grand to get it through its next MOT.
So we are considering giving the damn thing back to the finance company.
The situation is:
The car is overdue a minor service.
There is a small mark on the back bumper of the car where the local Jag dealer reversed it into a pole.
There are mechanical issues with the brakes, front wheel bearings and the tyres could use changing.
So, has anyone backed a car under halves and thirds? Whats the proceedure on it? All I know from my time in the trade is that you can back the car.
So we are considering giving the damn thing back to the finance company.
The situation is:
The car is overdue a minor service.
There is a small mark on the back bumper of the car where the local Jag dealer reversed it into a pole.
There are mechanical issues with the brakes, front wheel bearings and the tyres could use changing.
So, has anyone backed a car under halves and thirds? Whats the proceedure on it? All I know from my time in the trade is that you can back the car.
You can certainly return the car to the finance company, but it will be inspected and any maintenance work required carried out. They will then send you a bill for all the work they have completed, and I can guarantee the garage they will use will be more expensive than yours.
You really need to get the car up to spec before returning it, small marking dings and the like can usually be negotiated however.
You really need to get the car up to spec before returning it, small marking dings and the like can usually be negotiated however.
Did the finance company inspect the car when they issued the loan (I doubt it). Surely they would need to prove that the issues they might want to charge for (bumps, dents etc) were not already there on purchase?
The relevant clause in the finance agreement will say something along the lines of:
"You will have nothing further to pay providing you have kept reasonably good care of the goods", so very vague really.
I would expect the finance co to bluff and bluster but whether they'd take things any further???
The relevant clause in the finance agreement will say something along the lines of:
"You will have nothing further to pay providing you have kept reasonably good care of the goods", so very vague really.
I would expect the finance co to bluff and bluster but whether they'd take things any further???
The service was missed because of more pressing repairs. 2 gearbox jobs in 2 years! However, the only thing that wasn't done during the gearbox change was the engine oil, which we did on the drive. The problem isn't that its not been done, its a lack of a stamp.
The other issues, the brakes, wheel bearing and tyres are the reason for the return. The car has been one problem after the other, the first problem on the day after she picked it up and that is the reason she wants rid. The car is road legal and so the finance company has no right to reject it or charge for repairs that don't need to be done for legal use on the roads. Bearing in mind they are just going to chuck it through BCA anyway...
The other issues, the brakes, wheel bearing and tyres are the reason for the return. The car has been one problem after the other, the first problem on the day after she picked it up and that is the reason she wants rid. The car is road legal and so the finance company has no right to reject it or charge for repairs that don't need to be done for legal use on the roads. Bearing in mind they are just going to chuck it through BCA anyway...
Doesn't matter. They need the car to be in roadworthy condition to sell on.
If it NEEDS brakes and tyres, (which let's face it are consumables and should be replaced on a regular basis anyway!), you'll get the bill and it'll hurt. How can tyres, brakes and a wheel bearing be £2k?
Tyres; Part worn will probably set you back £30 each.
Brakes; Depends on what needs done, but if it's just pads, you can have the lot replaced for about £100 an axle if the disks need doing they'll be about £150 a pair and can be done at the same time as the pads.
Wheel bearing; Depends on what it is TBH. Some can be done for as little as £50, but I've heard of others like the ones on older 5 series BMWs being quite expensive.
So to sum up, about £1k should see it serviceable and ready to deliver many more miles of safe motoring.
It'll probably look bad on your credit history too, but I'm prepared to be proved wrong about that.
If it NEEDS brakes and tyres, (which let's face it are consumables and should be replaced on a regular basis anyway!), you'll get the bill and it'll hurt. How can tyres, brakes and a wheel bearing be £2k?
Tyres; Part worn will probably set you back £30 each.
Brakes; Depends on what needs done, but if it's just pads, you can have the lot replaced for about £100 an axle if the disks need doing they'll be about £150 a pair and can be done at the same time as the pads.
Wheel bearing; Depends on what it is TBH. Some can be done for as little as £50, but I've heard of others like the ones on older 5 series BMWs being quite expensive.
So to sum up, about £1k should see it serviceable and ready to deliver many more miles of safe motoring.
It'll probably look bad on your credit history too, but I'm prepared to be proved wrong about that.
OK, Let me state again for the record. ITS NOT ME!!
All of the parts listed are Advisories, or where last month anyway. The vehicle is road legal and road worthy, but it needs a fair chunk investing in it to get it through its next MOT.
Also, I am against the idea of just giving back the car, but the person asked what their options were and fixated on the Halves and thirds rule as the answer to all their problems.
All of the parts listed are Advisories, or where last month anyway. The vehicle is road legal and road worthy, but it needs a fair chunk investing in it to get it through its next MOT.
Also, I am against the idea of just giving back the car, but the person asked what their options were and fixated on the Halves and thirds rule as the answer to all their problems.
nsmith1180 said:
OK, Let me state again for the record. ITS NOT ME!!
All of the parts listed are Advisories, or where last month anyway. The vehicle is road legal and road worthy, but it needs a fair chunk investing in it to get it through its next MOT.
Also, I am against the idea of just giving back the car, but the person asked what their options were and fixated on the Halves and thirds rule as the answer to all their problems.
how is it roadworthy if it will fail the mot ?All of the parts listed are Advisories, or where last month anyway. The vehicle is road legal and road worthy, but it needs a fair chunk investing in it to get it through its next MOT.
Also, I am against the idea of just giving back the car, but the person asked what their options were and fixated on the Halves and thirds rule as the answer to all their problems.
bimsb6 said:
nsmith1180 said:
OK, Let me state again for the record. ITS NOT ME!!
All of the parts listed are Advisories, or where last month anyway. The vehicle is road legal and road worthy, but it needs a fair chunk investing in it to get it through its next MOT.
Also, I am against the idea of just giving back the car, but the person asked what their options were and fixated on the Halves and thirds rule as the answer to all their problems.
how is it roadworthy if it will fail the mot ?All of the parts listed are Advisories, or where last month anyway. The vehicle is road legal and road worthy, but it needs a fair chunk investing in it to get it through its next MOT.
Also, I am against the idea of just giving back the car, but the person asked what their options were and fixated on the Halves and thirds rule as the answer to all their problems.
nsmith1180 said:
OK, Let me state again for the record. ITS NOT ME!!
All of the parts listed are Advisories, or where last month anyway. The vehicle is road legal and road worthy, but it needs a fair chunk investing in it to get it through its next MOT.
Also, I am against the idea of just giving back the car, but the person asked what their options were and fixated on the Halves and thirds rule as the answer to all their problems.
right, putting all the roadworthyness issues to one side, the 50% voluntery termination point is the point when you can hand the car back and walk away, at 2.5 years i dout she would be at that point yet, however its easy to check, total up everything on her agreement (finance charges, total goods value etc) then take away the initial deposit and her monthly payments thus far. If the remainder is half the original amount then you can get rid, you can also just call the finance house up, its your legal right. Halves and thirds i think relates to repoession, tho i could be wrongAll of the parts listed are Advisories, or where last month anyway. The vehicle is road legal and road worthy, but it needs a fair chunk investing in it to get it through its next MOT.
Also, I am against the idea of just giving back the car, but the person asked what their options were and fixated on the Halves and thirds rule as the answer to all their problems.
clicky the linky - http://www.bvrla.co.uk/Advice_and_Guidance/Fair_we... - most companies will adhere to this or something very similar as they'll use an agent to come and inspect and collect the car.
Fair wear and tear is allowable and a degree of negotiation/come and go is expected, but the required works you've decsribed don't sound like fair wear and tear to me - fair wear and tear might be a few small dings, a scratch or two, a kerbed alloy etc.
ETA, sorry, looking at the website again it doesn't give a huge amount of info, you have to order a copy of the guidelines.
Fair wear and tear is allowable and a degree of negotiation/come and go is expected, but the required works you've decsribed don't sound like fair wear and tear to me - fair wear and tear might be a few small dings, a scratch or two, a kerbed alloy etc.
ETA, sorry, looking at the website again it doesn't give a huge amount of info, you have to order a copy of the guidelines.
Edited by anonymous-user on Thursday 23 December 09:02
1. If they've paid half of the TOTAL AMOUNT PAYABLE under the agreement then you can hand it back
2. It's a condition of the agreement that you maintain the car properly
3. Ergo, you can hand it back if you comply with (1) - but expect to get reamed with a big bill for the service and making good.
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