Help with BCT Voluntary Termination

[Bingohomer]

Hi all,

 

Hoping you can help and advise as I go with this one. I am about to start VT process with BCT. I took a car out with them in June/July 2009 over 48 months. I didn't take any insurances or extras so it is just the basic HP costs for the car. I am now at the official half way stage under the 50% rule.

 

I am proposing to send the following letter, can anyone advise if this is good enough to cover everything and am I actually factually correct in being able to cancel my DD from the date they sign for the letter?

 

I wanted to make sure I covered all bases up front with them so I don't experience some of the issues that others have done previously.

 

Your feedback would be greatly appreciated, as well as any tips on what to look out for on returning the vehicle etc.

 

Many Thanks

 

-----------------------------------------------------------------------------------------

 

Dear Sir/Madam

Re: XXXXXXXXXXXXX

 

I am writing to notify you that I am exercising my right to terminate the above Agreement under Section 99 of the Consumer Credit Act 1974.

 

I understand that I shall be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974.

 

As 50% of payments due under this agreement have been made on time and with no arrears, I will be cancelling my direct debit with effect from the date you receive this letter and making no further payments under the agreement, regardless of how long it takes for you to correspond with me about the return of the vehicle.

 

Also please accept this letter a notification of a change to my residential address from xxxxxxxx to xxxxxxxxx.

 

Please send me written details to accept receipt of this letter and how the vehicle can be returned to you.

 

Please also confirm receipt of this request by telephone to me on xxxxxxx or via email at xxxxxx.

 

The letter has been sent recorded delivery and I will therefore deem the date the letter was signed for as the official date the voluntary termination will come into effect.

 

Yours faithfully

xxxxxxxx

[rebel11]

Hi bingo

 

Welcome to CAG

 

The guys will be happy to advise as soon as they are available. We might have to move your thread, depending on responses from Caggers.

[raydetinu]

the 50% amount will be stated in the agreement, so if you have paid that, then your notification should be ok and you do not have to pay any more.

it does need to be taxed, mot'd and in a reasonable condition.

[Bingohomer]

Thanks Raydetinu, whys does the vehicle have to be taxed? It has just passed the MOT and I have just put 6 months tax on it so I was hoping I could claim the remaining back, can I not remove the tax disc when I deliver it to them or they collect it? The car is in very good condition, just needs to be valeted and a small scratch on front bumper but I am hoping I can get that out with some T-Cut.

 

Thanks again for your reply.

[raydetinu]

You may well be able to remove tax disc after you have returned it, if they agree. ( generally has to be road legal ).

suggest you take photos of condition etc, they may try and charge for defects.