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I have written to OF requesting for the agreement to be terminated as i have reached 50%. They have sent a letter back saying i need to pay a further £1000 as i am supposed to have had GAP and warrenty on top as "services"
On my agreement that i signed, and the two copies (one from the dealer and one from Online Finance) this section was left unticked, where it clearly states "Please tick the relevant boxes to state that you intend to take out the services" or something along those lines.
As i have not ticked these and i believe they have not either am i able to not pay these charges.
Will it be a case of asking them to provide the agreement they hold to see if this is the case? Shouldnt the copy of the agreement tha ti ahd at the time of buying this vehicle....that shows it was signed by the finance company be the same as what they hold at their offices.....
I would write to them quoting the consumer credit act under which you are entitled to see a copy of the original agreement enclose £1.00.....make sure you get proof of delivery as Online finance seem to have a great big black hole in their mail room where I am positive some of my mail must have disappeared down.....
Although you hold a copy it is a good idea to get theirs before you go any further so there is no dispute.
I think your case is pretty cut and dry but get the agreement first and go from there!
Can you help?
The car I drive GTi VW which I brought with HP- Black Horse.
I went to investigate buying another car, this isnt a problem. But was told as the car is a 97 model low mileage very good condition worth perhaps £1,800 at the most- Have spent that on service, cambelts and problems wuth ABS just to write and tell Black Horse to bascially have the keys back with voluntary Termination. This brings horrors to me.
Brought the car over 4 years and have paid over the half way mark.
Am I going to end up with 2 cars this is what I see happening.
Can anyone help
If this car was bought on HP and on your agreement states a 50% mark for voluntary termination, and you have passed that amount, you can simply write to Blackhorse and request the termination of the HP agreement.
Even though your car has obviously had work done to it, most of what has gone wrong should come under the natural deteriation and wear and tear!!
Once you have written to termniate the agreement they should come out and inspect it.
If they refuse to give the car back then they are in breach of their agreement.....you can simple find out their HQ address and go park it outside....hehe
Also just to make sure....when you took the agreement out, if you also took Gap insurance of any additional warrenty and this was added to the final agreement price, you are still entitled to pay that amount.
For example
i bought my car for 10K...with Gap insurance and warrenty for a further 2K.
I am now at 50% of paying it all back so can give the car back no problem, but i still owe the outstanding charges for the two services...currently around 900 quid...
Cheers! will do that and see what happens. Had visions of having 2 cars and not being able to get Black Horse to take dearly beloved Golf back.
Let you know
Getting back to the original point of the thread, it seems that Online Finance make their own rules up. I had the screw up a direct debit change on my monthly payment, insurance and gap insurance. As a result they cancelled my gap and PPI and refused to re-instigate them. This became more of a problem when I was made redundant and was out of work for 10 months as it meant that I had to find the monthly payments for the whole period. I am half expecting them to send me a bill for the ppi and gap when I settle.
When I asked them about a new policy they told me that they no longer do car finance, which I'm sure is a lie but if not, at least noone else will have to suffer their incompetence.
Online Finance were bought out by another company...the name escapes me now. All current Online Finance policies are still named online finance but for new ones you go through the company that bought them out. GMC or GAC rings a bell.....
Online Finance - Voluntary Termination
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Re: Online Finance - Voluntary Termination
