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First Response Car finance query.


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Hi there, wonder if anyone is able to advise me.

 

I bought a car in April 2010 on a 3 year credit agreement financed by first response.

 

I am almost now in the last year of the agreement. the problem is that the catalytic converter and the auto gearbox is on it's last legs and is going to cost more to replace than the actual value of the car. I put the car through an MOT one month before it is due and there are numerous faults.

 

I am wondering whether to get rid of the car before the MOT is finally up and put it in PX for another. My problem is this, will First Response finance me for another car so instead of a three year agreement, it will be a four year agreement to cover the remaining finance on the current car. I have checked the net for similar situations but can't find anything.

 

Any advice appreciated

 

Many thanks jb000

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Hi jb000

Yes you can re-finance with First Response during the lifetime of your current agreement. In fact 30% of Hire Purchase Agreements at First Response are for existing customers and they have often not yet finished their existing contract.

Each loan advance is reviewed on its own merits and we can lengthen the term where necessary, but we don’t necessarily have to lengthen the term a full year (a longer term ultimately means it is costing you more). It depends on the new vehicle you choose and monthly budget you want to work within, but we will do what we can to help you get where you want to be.

Our advice is for you to call the renewals team on 0844 873 0826. If you explain to them your situation and what you would like to do, you should find them informative and helpful.

Hope this helps,

First Response Finance

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  • 8 months later...

Hi there, I have a problem with the aforementioned company and wonder if anyone out there can put us on the right track.

 

In 2010 I bought a car on HP and everything was going fine until March of this year.

 

I took out the usual insurances GAP, PPI etc as working for a charity job security is almost non existant

so I thought that if there was a problem, for instance being made redundant, heath problems etc,

I would have the payments sorted for a year at least and have some peace of mind.

 

In March, I discovered the car would not pass another MOT without a lot of money being spent on it,

so I wanted rid as quick as possible before the MOT was due in May.

 

I contacted First Response Finance with a view to trading it in and refinancing on another car so I would not be stuck with a lemon that would cost more than what it was worth to repair.

 

They agreed to refinance and I traded in for another car.

I stated at the time I wanted PPI and GAP insurances as before.

 

All was going fine until the end of September until the body blow came that I was being made redundant.

 

I thought at the time that it was no problem as the payments will be covered for at least a year.

 

I telephoned them straight away to inform them of this development and send me the forms to claim on the PPI insurance for them to pay the installments.

 

They called me back a day later and to my horror they said I had no PPI insurance only GAP insurance.

 

I said this is not true as I would not have even bought the car without that insurance as I knew things were a bit unsecure at work

and it would have been a waste of time and money to do it.

 

A couple of days later they contacted me again and was told that they had stopped doing PPI insurance from January this year due to all the claim backs.

 

I told them not once was I informed they stopped doing PPI in the 6 or so calls I made to them sorting out the refinancing

as I would have gone no further with the transaction or the agreement had I known this.

 

Now I am stuck with a car I cannot afford as I am now on JSA.

 

My family kindly lent me the money for a smaller and cheaper car so the other car is on a friends driveway while this is getting sorted out.

 

Do I have a case to state that the finance was mis-sold as I specifically asked for PPI insurance and was led to believe I had insurance when I didn't and was not told they stopped doing it.

 

Another problem is that I have mislaid the agreement so I am going to CCA them asap.

 

They sent me a default notice yesterday and have given me till 3 December before they will issue proceedings.

 

If anyone can help me I will be most grateful.

 

Many thanks jb000

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  • 1 month later...

Hello there, I wonder if anyone out there can help answer a question for me.

 

Got made redundant, I was 6 months into a new agreement for a car on HP, an 8 year old Vauxhall.

 

Told finance company to take it as I could not afford to make the monthly payments on it as I am now on benefits.

 

In the meantime I bought an old banger to get me about.

 

I parked the Vauxhall away on private land as I was not insured to drive it and has been there for several months now.

 

Finance company made the usual motions such as default notice and notice of repossession etc,

 

however, today I received a letter from them to state that they will be pursuing me for the full amount of the finance through my local County Court.

 

Does this mean that they are not repossessing the car?

 

I would be grateful for any advice.

 

Thanks

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They cannot repossess the car without taking you to court as it is parked on private land.

 

They would have to have written authorisation from you to take the car.

 

Write to them statng that you wish to 'voluntary surrender' the car and tell them where it is.

 

This 'should' stop them taking you to court.

 

Repossession will not be the end of this however.

 

They will sell the car at auction and take the amount they receive for it off your outstanding balance. You will be liable for the shortfall.

 

When you left your job and went onto benefits would it not have been better to organise a reduced payment plan so you didn't need to go through this?

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Thanks for reply.

 

I am currently on JSA and told the finance company that every penny counts keeping a roof over my head

and paying for heat, light, food etc so paying for the car is very low on my list of priorities at the moment.

 

If they do auction the car, the most they will probably get from auction is a couple of hundred pounds given it's age. (Vauxhall Vectra almost 9 years old).

 

My quandary is that on this notice of intention they sent me today mentions nothing about applying to the Court for repossession or recovery of the vehicle,

it just says about their intention to claim the amount owed in full via my local court which amounts to several thousand pounds.

 

I'm just wondering whether it is normal for a finance company simply to go through the route of a CCJ, instead of trying to auction off a car with very little or negligible value to them.

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can i politely suggest that you do not VS the car

 

rather VT it,

 

if you VS, you leave yourself open for the remainder of the balance

 

if you VT the car and you have paid more than 50% of the finance, typically, baring fair wear 'n' tear you will owe nowt.

 

to be able to properly help you

 

can we have the name of the finance company and how far you in to the agreement.

 

if you've got the agreement, all the better

 

lets see it.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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can i politely suggest that you do not VS the car

 

rather VT it,

 

if you VS, you leave yourself open for the remainder of the balance

 

if you VT the car and you have paid more than 50% of the finance, typically, baring fair wear 'n' tear you will owe nowt.

 

to be able to properly help you

 

can we have the name of the finance company and how far you in to the agreement.

 

if you've got the agreement, all the better

 

lets see it.

 

dx

 

Hi there,

Problem is that I had only been paying on the car for 6 months until I was made redundant from my job,

I first took out an agreement on another car in 2010 with the same finance company First Response Finance,

 

the first car was a complete lemon and I wanted rid of it as soon as possible so I asked First Response to re-finance me for another car as I desperately needed it for work.

 

I p/ex ed for the Vectra in March 2012 on a new agreement from First Response as I was told that was the only way they would do it.

 

So I have only paid 1/6th off the car instead of half you need to VT.

 

I was also lied to by First Response, because I told them I wanted PPI on the car as it would guarantee the payments for a year if I became unemployed.

 

I had PPI on the first car and thought it would be exactly the same,

however, when I asked about the payments guarantee when I became redundant,

I was told there was no PPI om the car.

 

I said this was untrue because I would not have bought the car without some sort of payment protection.

 

They said that they had stopped doing PPI in January 2012 due to all the claim backs.

 

I said that I was told no such thing when I was arranging the finance for it otherwise I wouldn't have gone ahead with the paperwork.

 

Now you can see why I am so reluctant to give them the car back as I feel as I have been well and truly stiffed by them.

 

I'd rather see the car rot away where it is than it go to some oily car dealer for peanuts at auction.

 

I will fish out the credit agreement tomorrow and keep you informed with what is going on.

 

Many thanks jb000

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You don't have to have paid a half before you can VT, you can VT any time you like. Unless the creditor has terminated, which it has here, so now you have lost the right to VT. If the car is only worth a couple of hundred quid then that is the reason they are suing you for the balance - obviously the value of the car is less than the costs of removal and sale, so there is no point them repossessing it.

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  • 2 weeks later...

Just to update with what's going on. I received a further letter today from FRF.

 

The contents are:-

 

Transfer to Debt Collection Agency

 

Despite our efforts to reach an arrangement, you have failed to make any proposals for payment in respect to the above Agreement.

 

We have therefore referred your account to Shoosmiths our debt collection agency, to avoid this course of action please contact our office on the number above within 7 days of the date of this letter in order that we can agree an ongoing payment arrangement. Failure to do will mean that Shoosmiths will commence collections activity on our behalf.

 

There remains an outstanding balance of: £ xxxx. xx

 

This is calculated as follows:-

 

Total payable under the Agreement including insurances £ xxxx . xx

Less Deposit £ 0 . 00

Less Payments Made to Agreement £ xxx . xx

Less Sale Proceeds £ 0 . 00

Less Insurance Rebate (where applicable) £ 0 .00

Plus Recovery & Preparation for sale costs £ 0 . 00

Plus Late Collection Charges & Late Pymnt Interest £ xx . xx

TOTAL DUE £ xxxx . xx

 

 

Does this now mean that the company have no interest in the vehicle and have simply let me keep it to go for the full balance.

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typically mean sending sham letter

with every word under the sun but WILL

 

to spoof people into paying a debt they dont need too.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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i said 'people' not specifically the OP.

 

people read these threads and pick out one bit

they then take it as true for their issue.

 

shoosmiffs are a dca, they are not bailiffs.....

they dont own the debt...can only threaten.

 

anyhow.

 

i think there is something amiss here

esp with the PPI / gap/ any other ins...

 

i wonder how much short of 50% the OP will be if..

 

he works out 50% of the agreement

 

takes off the PPI/gap/any extras on the agreement [+ the int they have charged for them]

then the price of the car at auction.

 

just musing.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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typically mean sending sham letter

with every word under the sun but WILL

 

to spoof people into paying a debt they dont need too.

 

dx

 

Thanks for reply.

 

I admit I owe them the money and will pay them back one day but I will only pay them what I can afford at this moment which will be token payments due to unemployment. When I become employed again, the situation will no doubt change and could afford to up the payments. I get more than the impression that they are trying a last ditch attempt to try and get as much as they can before they send this away as no County Court Judge in the land will order more than token payments from an unemployed person.

 

The car is now on a SORN and the MOT is due to expire very shortly and is a non runner due to a few repairs that need doing to it. I was speaking to a friend of a friend who worked at the car auctions and he said a non running car of that age would probably fetch no more than £50 on a good day if it sells at all. So £50 is hardly going to put a ripple in the almost £5000 I owe them. Once this is over and done with and if they have no interest in the car, I will probably fix it, run it into the ground then scrap it.

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i said 'people' not specifically the OP.

 

people read these threads and pick out one bit

they then take it as true for their issue.

 

shoosmiffs are a dca, they are not bailiffs.....

they dont own the debt...can only threaten.

 

anyhow.

 

i think there is something amiss here

esp with the PPI / gap/ any other ins...

 

i wonder how much short of 50% the OP will be if..

 

he works out 50% of the agreement

 

takes off the PPI/gap/any extras on the agreement [+ the int they have charged for them]

then the price of the car at auction.

 

just musing.

 

dx

 

The only insurance I have with them is GAP and I mentioned the PPI situation further up in the thread. No matter what, I am nowhere near the 50% figure.

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The 50% calculation is irrelevant. The agreement has been terminated so the VT option has gone. To answer the OP's question, yes it is obvious they have abandoned the car as they don't think it is worth their while repossessing it and selling it. So you might as well use it. You still need to deal with paying the balance off though.

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  • 3 weeks later...

Hi there, UPDATE

 

Finally got sorted out.

 

The finance company passed the matter onto a firm of solicitors.

 

I wrote them a detailed letter regarding the whole experience, the PPI blunder, and my unemployment.

 

I get to keep the car and have settled on payments of £2 per month by standing order.

 

Many thanks for the advice, it is most appreciated.

 

jb000

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hey thats must be a lot off your mind

 

who was the finance co

 

that way i can resolve the thread title too

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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The finance company is First Response Finance and Shoosmiths solicitors.

 

I'm very glad that it's over and done with, it has learned me never to buy a car on HP ever again though.

Edited by jb000
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ok great

now dont get pressured by shoey's either

 

now so the insurance and PENALT fees have been removed too?

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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ok great

now dont get pressured by shoey's either

 

now so the insurance and PENALT fees have been removed too?

 

 

dx

 

I got a breakdown of calculations from FRF last month. They have bundled the cost of the GAP insurance with the total finance charge so I am unaware of how much that totals. There is only one penalty charge of £15 so claiming that back would be rather pointless as that isn't going to make any difference on the total debt. However, I wouldn't be at all surprised if FRF try and sell this debt on at sometime or another as it will take in hindsight several hundred years to clear at this rate.

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If they do sell it on, the next owner is obliged to adhere to your current payment plan. Providing of course that they are able to get the correct paperwork to enforce the debt ;)

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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