Hi

Any advice welcomed please.

I took out a finance agreement to purchase car some 42 months ago there is still18 months to run.

The car is not well and ideally I would like to be rid of it.

The interest rate is also phenomenally high.

I was desperate for a car at time I purchased and was grateful of any finance at the time.

I was advised by a friend that if I had paid over 50% of agreement off I could cancel under the CCA 1974 s99.

I have read the agreement and it states the car is the security and that the agreement is not cancellable under the CCA 1974.

I have looked at a few posts and most seem to indicate car finance is cancellable. Now not sure at all.

I would be grateful of any advice please.

is it an HP agreement

dx

The paperwork states

" Credit Agreement Regulated by CCA 1974"

The interest rate is 44% and is reason I really want to get out of it together with car not being too well.

Under key information it states not cancellable under CCA 1974.

States the agreement is secured as against the car.

what are the term rights under the T&C's

usually 1/3rd half etc.

who is this with

was it/does it say signed on premesis.

p'haps its better if you scan it up

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc using paint program

but leave all figures and dates. {DO NOT USE A BIRO OR PEN]

convert existing PC files to PDF [office has an installable print to PDF option]

..

goto one of the many free online pdf converter websites [http://docupub.com/pdfconvert/]

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

i'e Default notice dd-mm-yyyy

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

.

dx

Thanks for offering to look at the papers. I have struggled most of the day to get these copied and uplifted to the forum.

Some will not upload and keep getting rejected by uploader.

Hopefully these will at least give some indication of the agreement.

I have noticed the garage and finance company appear to have same HQ address. ACF Manchester seem to have same address as the Funding Corporation. Puuzzled ??

Hi

I think I have managed to now upload the balance of the car finance documents.

I would like to be able to get out of this finance agreement if at all possible:-

1. car is wearing out and ideally would like to replace it

2. the interest rate is phenomenal

3. I have paid 42 months now out of 60 month term

Any help as to how I can get out would be appreciated.

i am really sorry but the resolution of the scans is too blury

try changing to 600DPI

and FOLLOW THE GUIDE

you have used a PEN

you can see thru that.

all atts unapproved

dx

i am really sorry but the resolution of the scans is too blury

 

try changing to 600DPI

 

and FOLLOW THE GUIDE

 

you have used a PEN

 

you can see thru that.

 

all atts unapproved

 

dx

Apologies I have had such a struggle with my MAC and scanner. I am going to retry today and perhaps send to work to a PC and use paint program to block

Gigantuan struggle but have managed to up load 5 files of 8 on this post and balance below. Have increased DPI. I have learnt much about scanning today.

Would really appreciate advice in relation to this Car Credit Finance please.

Thanks so much

ok i've sorted the doc so far to one file for you p'haps 600dpi is TOO large

not sure what the default was but 300 dpi should do.

the last 2 pages need a better scan. still

dx

so this is a secured loan, by a bill of sale by the funding corp.

are you aware if the bill of sale has been registered?

with the courts?

No Independant signature

No Independant Witness

Not Registered With The High Court In 7 Days

Credit Agreement Details Not On The Bill Of Sale

all these can be used to negate the deal.

dx

also what is wrong with the car

there might be recourse under SOGA

or

http://www.adviceguide.org.uk/england/consumer_e/consumer1_cars_and_other_vehicles_e/cars_buying_a_secondhand_car_e.htm

dx

I will try and work out how to load the last 2 pages., the 3 remaining pages are letter 9.6.06 basically giving agreement number and confirming my bank details. Also confirms finance is secure against car. p1 of credit agreement is a New and Used Vehicle Order form - states "I agree to purchase from you subject to T & Cs undermentioned vehicle...... vehicle price £5000. I saw vehicle and signed docs at there office where car was on same day on 5/6/09.

Car issues are just pure age related wear and tear. I need reliable car for my job which is now only accessible by car not public transport.

I am unaware if agreement was registered with Court. I would think not. This is the first mention I have heard of this, No independent signature at all just salesman and me there. I think garage / showroom ACF is owned by The Funding Corporation as both appear to have same registered office in Chester.

Will have another try to upload these outstanding docs.

Thanks for your help in putting my docs together.

Not very neatly assembled but all docs now posted.

Would really be grateful of advice

I did give Funding Corporation a call for early settlement figure and was given £2859.80. I have made 42 payments of just a few pence over £181 pm so this amount seems higher than I would have anticipated.

Any advice welcommed please

Definitely a loan agreement and not HP. We got caught the same way but interest was a lot lower. We sold the car and paid the balance outstanding. Not sure if you can do this?

I was never made aware that this credit agreement ws of a type (BOS) that needed to be stamped by the High Court. I have only realised that today having read dx100uk's comments and threads on BOS on CAG threads. I just assummed that it was a simple car / hp finance agreement I had.

I called The Funding Corporation today and asked for the High Court Stamp refernce which they gave me. I have never seen any paperwork from them at all referring to this stamp or a seen a document bearing it.

Very surprised at all the information I am now getting and reading on CAG re BOS in fact horrified to some extent as I say I thought this a simple car finance agreement.

Look forward to any further help and advice. I really just want to end this finance and car. Financially I am now in much better position than I was in 2009 when i was absolutely desperate for a set of wheels to get to work with.

Can you get a loan at a lower rate to pay the settlement amount even if it means resorting to a credit card as at least the rates will be lower?

Can you get a loan at a lower rate to pay the settlement amount even if it means resorting to a credit card as at least the rates will be lower?

I really need to replace this car as large bills looming. I am in much better financial position now than I was back in 2008/09 and can get reasonable finance to get a uptodate low mileage working car. I shall however now check what sort of finance and do homework.

Just shocked re finance on this I was led at time to believe it was an HP car finance agreement and never realised otherwise until I started to research replacing it.

Thank goodness for sites / forums like this.

been digging aroud....

Thanks for the research, not entirely sure where this info takes me or indeed whether it has any effect on the transaction. The points I note are that the company's own employee witnessed agreement and that I never received a executed copy - "The bill of sale (as a document referred to in the consumer credit agreement) must always be sent at the same time as the consumer credit agreement. A signed copy of the agreement must be sent to the consumer following execution (see CCA ss.62 & 63).

If I had received same then clearly I would have been aware of type of transaction or certainly aware enough to ask questions as to why Court registration.

How to take this forward now I am unsure any advice anyone