Capital Bank Hire Purchase Agreement

[Aqua-Sition]

I took out a Hire Purchase Agreement for a second hand car 22nd Nov 2005. In fact it was a refinancing to reduce the monthly payments - however, still a fresh Hire Purchase Agreement.

 

The agreement was signed in my own home. Further more, it was a restricted use agreement insofar that it paid for a motor vehicle and I did not receive any cash.

 

One box marked "CANCELLATION RIGHTS"

 

You do not have the right to cancel this agreement under the Consumer Credit Act 1974, unless we tell you otherwise in writing.

 

Is this correct - or should they have afforded me cancellation rights?

[postggj]

crap

 

i think thats the cancelation rights ref signed on trade prem

 

confirm its a hp and not a fixed sum loan agreement

 

 

2005

 

why are you questioning the agreement

[Aqua-Sition]

No definately a Hire Purchase Agreement and I definately signed it at home. As I said it was essentially a refinance on the same car, but a new agreement was entered into. I am hoping to use the cca 1974 to get rid of outstanding payments (around £3000) just like others in here who find themselves in a difficult position at the moment.

 

I take it that the clause is wrong in which case they failed to give me my legal rights - correct?

[postggj]

on the agreement under terminaton rights

 

has a figure been inserted, normally half the amount repayable, giving you the option to terminate by a voluntry termination

 

on the top of the agreement

what does it say

 

like

 

hire purchess agreement regulated by the consumer credit act 1974

[Aqua-Sition]

Yes, an amount of £9,209.30.

 

Yes, Hire Purchase Agreement Regulated by the Consumer Credit Act 1974.

[postggj]

it seems thats an agreement to be signed at the dealers or office, ref the term, non canceable

 

that would give you a 14 day cooling off period if signed at home

 

that seems all ok

 

now

 

did you have any micky mouse insurance like ppi added

[Aqua-Sition]

No micky mouse insurance...

 

but are you saying that they should have given a 14 day cooling off period or are you saying that as they have given voluntary terminiation rights they did not need to give the cooling off period?

[postggj]

you are getting confused

 

you sign a credit agreement, if its at a place of biz, the contract is binding, you cant cancel

 

sign at home, you have a 14 day cooling off period

 

they have just used a bog standard agreement, the same one they use in the garage.

 

if you are using this angle, can you prove you signed it at home and not the garage

 

 

all hp agreements have to have the voluntry termination option, half way point to terminate the agreement

 

be it signed in an office or home

[Aqua-Sition]

Yes, there is no dealers name or address or stamp on the agreement in the box provided. There is no signature of the dealer in the box provided.

[postggj]

If The Agreement Has Not Been Executed By The Dealer, The Agreement Is Unenforceable But A Court Can Enforce If All The Precribed Terms Are On The Agreement

 

Can You Post Up The Agreement Minus Personal Info, But Leave In The Figures

 

Google Photo Bucket

[Aqua-Sition]

Have attached 3 docs

Doc1.doc

Doc2.doc

Doc3.doc

[postggj]

Ill Be Back Later To Go Over These

[postggj]

Interesting

 

Need To Think

 

Thats A Pre Contact Agreement

Not A Cca

[Aqua-Sition]

OK

[Aqua-Sition]

Would you have a look at the Debenhams thread for me too please

[postggj]

Will Do But My Area Is Car Finance, Not Credit Cards

[postggj]

I Think This Hp Agreement Is Crap

 

This Is Important

 

On The Amount Or Credit Part It States A And B

What Is A And B And The Amount For Each

 

IME NOT TALKING ON THE TOTAL AMOUNT OF CREDIT BUT THE AMOUNT OF CREDIT

[Aqua-Sition]

The amount of Credit is (A-B) = £14,499.07.

 

A = Total Cash Price (inc VAT) = £14,499.07.

B = Less Deposit = £0.00

[postggj]

Check Back Later

[postggj]

Did They Send You That Agreement By Request Or Have You Allways Had It

[Aqua-Sition]

This is the one I requested

[Aqua-Sition]

It took them over 2 months to get it to me

[postggj]

Thats A Put Together Agreement And Not The Original ,,pre Contract

 

Seems They Dont Have The Original

 

Do Another Cca Request

 

Send Recorded Delivery

[Aqua-Sition]

I requested the information and they eventually sent it after 2 months!

[postggj]

As Stated

 

Send Another Request

 

Might Be Worth Sending A Sar At The Same Time On This One