I want to VT but need some help - credit4cars

[j3lly]

Hope ive posted this in the right place

 

I have a car on finance (credit4cars) and am wanting to vt

 

I've paid over half so thought it would be fairly straight forward,

 

i went onto their website to get address to send vt letter to and theres a message to say they in administration,

 

a bit of research and looks like they have been in administration since beginning of dec,

 

I've made 3 payments since then and not had any notification so was a bit surprised,

does this complicate things for me?

 

Who do u send the vt letter to?

 

The address i have for credit4cars or to the administrators named on credit4cars website?

 

Thank you in advance

[citizenB]

I will try and find someone who can help you.

[j3lly]

Thank you citizenb

[dx100uk]

I would think the administrators but we've seen portfolios sold on

 

 

dx

[AndyOrch]

Have you checked the following j3lly ?

 

http://www.credit4cars.co.uk/

 

And...

 

https://www.companysearchesmadesimple.com/company/uk/09654020/credit-4-cars-2015-ltd/

[j3lly]

Have called them and they have said they will accept notice to be sent by email,

should i send letter in post also to both addresses i have or is email really enough?

 

They also say once they receive the email

they will pass my account to the collections team to arrange collection of vehicle with me

& that there is a £150 charge for recovery of vehicle,

 

im sure ive read that they cant charge me for recovery they should do this for free

or at least arrange for me to drop it off somewhere local to me

but i cant find where i read this is it true?

[theoldrouge]

send the following letter by signed for delivery

you can VT

AT ANYTIME, but MUST do so under s99/100cca1974

 

You must vt under s99/100 cca1974.

do not sign

any of their forms, or agree to pay any charges. The car has just to be in reasonable condition for its age. As you have paid in excess of 50% there will be nothing to pay bar any arrears.Send them the following letter, they MUST action your request, you should endeavour to be present at the vehicle inspection---

 

VOLUNTARY TERMINATION OF AGREEMENT UNDER S99/100 CCA 1974

 

Account No: (xxxxxxx)

Dear Sir,

I am writing to notify you that I am exercising my right to terminate the above Agreement under Section 99 of the

consumer credit

act1974. You will understand that the aforementioned section permits the debtor to terminate the agreement at any time before the last payment is due. There is no restriction regarding the exercising this statutory right, particularly none in respect of any perceived arrears or monies due on termination

 

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 I have paid more than the amount calculated under the formula in Section 100 the amount due is £xxxx

 

The above agreement will be terminated 14 days from the date of this notice.

(unless you pay less than £1500 per year you must give one months notice)

Please send me details of how the vehicle can be returned to you.

 

You will be aware that statute prevents you from levying a charge for the recovery of this vehicle; guidelines also state that if you require me to deliver this vehicle it must be no more than a short (reasonable distance) from my registered address.

Please confirm receipt of this request in writing within 7 days of receipt.-Yours etc...

 

attend vehicle condition report, take dated photos from every angle

 

a short reasonable distance would be the distance you travelled to buy the car

[Peterbard]

send the following letter by signed for delivery

you can VT

AT ANYTIME, but MUST do so under s99/100cca1974

 

You must vt under s99/100 cca1974.

do not sign

any of their forms, or agree to pay any charges. The car has just to be in reasonable condition for its age. As you have paid in excess of 50% there will be nothing to pay bar any arrears.Send them the following letter, they MUST action your request, you should endeavour to be present at the vehicle inspection---

 

VOLUNTARY TERMINATION OF AGREEMENT UNDER S99/100 CCA 1974

 

Account No: (xxxxxxx)

Dear Sir,

I am writing to notify you that I am exercising my right to terminate the above Agreement under Section 99 of the

consumer credit

act1974. You will understand that the aforementioned section permits the debtor to terminate the agreement at any time before the last payment is due. There is no restriction regarding the exercising this statutory right, particularly none in respect of any perceived arrears or monies due on termination

 

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 I have paid more than the amount calculated under the formula in Section 100 the amount due is £xxxx

 

The above agreement will be terminated 14 days from the date of this notice.

(unless you pay less than £1500 per year

where

you must give one months notice)

Please send me details of how the vehicle can be returned to you.

 

You will be aware that statute prevents you from levying a charge for the recovery of this vehicle; guidelines also state that if you require me to deliver this vehicle it must be no more than a short (reasonable distance) from my registered address.

Please confirm receipt of this request in writing within 7 days of receipt.-Yours etc...

 

attend vehicle condition report, take dated photos from every angle

 

a short reasonable distance would be the distance you travelled to buy the car

 

good letter added a slight correction , i think.

 

(7)This section does not apply to—

 

(a)any agreement which provides for the making by the hirer of payments which in total (and without breach of the agreement) exceed [F1£1,500] in any year, or

[theoldrouge]

[j3lly]

Ok vt letters posted to both the address on agreement & address of administrators shown on the website

 

When i called them the other day they mentioned i would need to pay them £150 to collect the vehicle

and quoted the section of my agreement where it states this or i could deliver it to them in essex (im in manchester)

 

I know it says in the vt letter that they cannot charge me for this

but having had chance to read through the agreement this evening

it does infact say i have to pay if i want them to collect the vehicle from me

 

 

am i bound by this or does the fact the statue states they cany levy a charge trump the agreement

[Peterbard]

Do you have your agreement to hnd, if so could you either type or copy the precise wording of the section in question please.

[dx100uk]

I think you'll find that does not mention the VT side of it..

but more cleverly relates to a generic term...if you want to return the vehicle etc etc??

 

 

no they cant charge on a VT return

 

 

follow the UPLOAD

 

 

dx

[j3lly]

They pointed me to 8.1, 8.2 & 9.6.4

 

8. YOUR RIGHT TO TERMINATE

8.1. You can terminate this agreement as described in the notice headed 'termination: your rights' shown on the second page of this agreement. You must return the goods to us at your own expense in good repair and condition (other than fair wear and tear) together with everything supplied with the goods (including the servicing book) and the registration document and any MOT certificates.

8.2. If you require us to collect the goods from you we may make a charge not exceeding the amount shown in clause 9.6.4 below as a contribution to our collection costs. If you fail to take reasonable care of the goods you will have to pay our costs of repairing and/or refurbishing the goods.

 

9.6.4. £100 for goods collection on voluntary termination

 

TERMINATION YOUR RIGHTS: (mentioned in clause 8.1)

You have a right to end this agreement. To do so, you should write to us at the address shown below. We will then be entitled to the return of the goods and to half the total amount payable under this agreement, which is £xxxx, if you have already paid at least this amount plus any overdue instalment and have taken appropriate care of the goods, you will not have to pay any more.

 

I will scan the agreement in morning and post the pdf minus personal info for you guys

 

Thank you again for your help

[dx100uk]

sadly they cant demand a charge

 

 

https://www.nationaldebtline.org/EW/factsheets/PDFs/16%20EW%20Hire%20purchase%20and%20conditional%20sale.pdf

[Peterbard]

173 Contracting-out forbidden.

 

(1)A term contained in a regulated agreement or linked transaction, or in any other agreement relating to an actual or prospective regulated agreement or linked transaction, is void if, and to the extent that, it is inconsistent with a provision for the protection of the debtor or hirer or his relative or any surety contained in this Act or in any regulation made under this Act.

 

This term is covered by the above section of the CCA 1974 in that it breaches this:

 

99 Right to terminate hire-purchase etc. agreements.

 

(1)At any time before the final payment by the debtor under a regulated hire-purchase or regulated conditional sale agreement falls due, the debtor shall be entitled to terminate the agreement by giving notice to any person entitled or authorised to receive the sums payable under the agreement

 

In other words nothing can stop you voluntarily terminating.

 

The only charges you must pay are the ones contained in the legislation and itemised in section 101, the charge mentioned is levied after the agrement is terminated and is void in any case. All it means is that no one will collect the terminated car(their car), well that is ther problem it is no longer yours , you attachment to the car ha been terminated.

[theoldrouge]

just to reiterate, in addition to the above, should they request that you deliver the car,

 

a short, reasonable distance is regarded by trading standards, as the distance that you travelled to purchase the car

[j3lly]

They mustnt have much to do as they have recieved my letter and emailed me

 

"I am sorry to hear that you wish to return the vehicle and exercise your right to terminate the Credit Agreement I do need to bring to your attention the following.

 

Under section 99 of the Consumer Credit Act 1974 relating to terminating your agreement you are liable for 50% of the total amount payable less any payments already received. Also as per your agreement there is cost of £100.00 as your contribution towards recovery of the vehicle should you decide that you will not be returning the vehicle personally as per the Terms & Conditions of your contract.

 

If you are unable to pay the £100.00 recovery fee this will be added to any balance outstanding which if necessary we will look to recover through the necessary legal channels.

 

We are not liable for any fines or fees attached to the vehicle whilst the vehicle remains in your possession.

 

Please confirm your decision so we can start the process by return email"

[theoldrouge]

so point them towards Dodgeballs post as above or ask them where you can deliver the car to (bearing in mind the advice given)

[j3lly]

just to reiterate, in addition to the above, should they request that you deliver the car,

 

a short, reasonable distance is regarded by trading standards, as the distance that you travelled to purchase the car

 

Im happy to deliver in where i purchased it from or equal distance which was 17mile,

 

 

they say i have to return the car to them in essex which is over 200 miles away although the agreement only says i must return car at my expense it doesnt actually say to their head office address in essex

[theoldrouge]

so point them to the advice given as well

[renegadeimp]

Im happy to deliver in where i purchased it from or equal distance which was 17mile, but they say i have to return the car to them in essex which is over 200 miles away although the agreement only says i must return car at my expense it doesnt actually say to their head office address in essex

 

Youve already been given your answer @) The company are just ignoring rule and regulation and think they can bluff you.

[j3lly]

Fab thank guys

 

One more question for now,

say they stick to their guns and wont allow me to deliver local,

 

 

once termination notice period up if they dont collect promptly

 

 

can i just inform insurance & dvla that im no longer owner and park the car on road

[Peterbard]

Perhaps:

 

Re Voluntary termination under section 99 of the consumer Credit act 1974. Dated ""/""/""""

 

The agreement will terminate on **/**/****, in full compliance with the requirements of the Consumer Credit act 1974 section 99.

 

Any claims raised by yourselves under section 101, (charges on termination) may be sent for consideration post termination.

For the avoidance of doubt,

 

Once the agreement is terminated my duties under it cease and I will have no further liability for any losses or damages which may occur.

 

You may collect your car from my address upon appointment.

[j3lly]

Fabulous thank you dodgeball

[Peterbard]

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