Hi there I bought the vehicles in the business name. The business is a limited company and its owned by myself and my business partner. I had to indemnify the vehicles in my own name because of the age of the business. I was never told about the agreements being unregulated etc. i would have never signed the agreements if this had been explained to me. Thats obviously why they dont tell you !! I havn't missed any payments or been in arreers. I would have just liked to give the vehicles back and end the agreement because they have never lived up to expectation and one of them has been very problematic.

Hi there Thanks very much for the replies. I think after reading your posts and also reading my agreements again, that i have been stitched up like a kipper !! so to speak. The thing that really annoyes me is that non of the information is explained to you at the point of sale. It looks as though the only option open to me is to try and sell the vehicles. That too has its problems because once people know that the vehicle has outstanding hp, they avoid it like the plague. Once again thanks for the replies.

Hi there I bought both of the vehicles in the company name and had to indemnify them in my own name as the company was only 2 years old.

Hi everyone I just wondered if anyone could help with my little problem ?. I have a small business, and purchased 2 vehicles just over 2 years ago, both on HP agreements. Neither of the vehicles have lived up to expectation, and one of them in particular has been a nightmare from day one (been in and out of garage for in warranty repairs). Both vehicles were bought brand new. I have done a bit of reading on the consumer credit act, and was under the impression that you could hand back the vehicles to the finance company after 50% of the finance has been paid. I understand this to be the "halves and thirds rule)?. I telephoned the finance company today and told them what i was proposing to do, and they basically told me that the consumer credit act didn't apply to both my agreements as they were "un regulated". They then went on to say that i was stuck with the vehicles for the full 5 year term, the only option i had was to try and sell them. I told them that non of this information was made clear to me when i purchased the vehicles as they were very keen for a signature !. I now understand why !. Does anyone know if the information that i have been given is correct, as to be honest im that fed up of people trying to shaft me in business that i no longer believe anyone. Please help. Regards The Runner

Hi there just thought id say hello to everyone before i start asking for free advice ! Only seems polite. I must say that having had a look on here at some of the very helpful posts, i thought to myself, who needs a solicitor !!!! I will have a look around and post my "problem" on the appropriate forum. Thanks everyone The Runner