Jump to content

Recommended Posts

Hi All,

 

I am looking for some help, my husband has recently passed his driving test but only has an automatic licence and we are in the process of changing our car. We have already been accepted for finance for a new car with another company with better rates.

 

We took out HP finance with Advantage Finance in July 2016, the agreement was for 54 months. If my calculations are correct we have made 29 payments back which is over the 50% they state you need to pay before you can proceed with a VT. I have sent an email and letter to inform them I was to terminated with immediate effect and I am awaiting their reply. (I have attached a copy of the letter/email sent)

 

I have never been in this situation before and want to know what my next steps should be? I have never been in arrears with them, never missed a payment or been late with a payment.

 

I just made a payment for the car on the 26th January 2019 (this would have been payment 29), should I still make my payment in February on should I cancel my direct debit?

 

I have been reading quite a few threads lately on dealing with Advantage when proceeding with a VT and I am petrified they try and charge us extra for scratches etc. that were already on the car when we originally purchased it. I will take lots of photos before it goes back, I have had it professionally valeted and washed also.

 

Any help is much appreciated.

Share this post


Link to post
Share on other sites

well they cant charge you anything more

inc any bogus charges for collection either.

 

as per what you have read I expect make SURE you take extensive photos of everything to do with the car.

 

inside body panels

underneath on a selfie stick.

video is good too.

 

they will try and get you on dings and dents and scratches they always do.

 

but fair wear n tear overrides their silly games.

 

did you send our VT letter?

cant see any attachments [read upload use PDF only]


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

sorry don't think it uploaded property, I have sent an email and a letter in the post.

 

Here is a copy of the content included in both:

 

Dear Sir or Madam,

 

Re: Termination of hire-purchase agreement pursuant to section 99 of the Consumer Credit Act 1974 (“ CCA 1974”)

 

I am writing to inform you that I am exercising my right to terminate the above hire-purchase agreement with immediate effect in accordance with Section 99 of the CCA 1974. You will be aware that I have to date paid 29 instalments totalling £5083.41 which exceeds more than half the total price payable under the agreement. Accordingly, I calculate that there are no further instalments to be paid.

 

I have also inspected the vehicle and I am of the opinion that it is in a reasonable condition given its age whilst accounting for fair wear and tear. Photographic evidence has been taken in the event of any future dispute as to the state of the vehicle.

 

Finally, I would remind you that as a consequence of terminating the agreement under Section 99 of the CCA 1974 and having met the relevant criteria under S.100(1) of the CCA 1974, my liability is limited to one half of the total price payable. Any additional costs, expenses, compensation or otherwise relating to a breach of the agreement are irrecoverable. The vehicle is available to collect and arrangements should be made at your own cost.

 

I am prepared to deliver the vehicle to a local auction site at my own expense, no more than a short reasonable distance from my registered address. If, however, you prefer the vehicle to be delivered elsewhere, then I will require an undertaking from you agreeing to pay my reasonable costs and expenses prior to it being delivered to your preferred location.

 

I would appreciate if you could contact me on xxxxxxxxxxx at your earliest convenience to discuss the next steps.

 

Yours faithfully,

Share this post


Link to post
Share on other sites

:thumb::thumb:

 

pers I wouldn't have put the last line

writing only!!


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

I am still waiting on them replying to me, do you think it is safe to cancel the direct debit I have in place with them or should I wait till they respond?

 

I have just had confirmation from our new finance company that everything has been finalised on the new car, the last thing I want is to be paying out for 2 cars at the end of February

Share this post


Link to post
Share on other sites

even if you've not paid the 50% you can send the remainder later

pers i'd cancel the DD.

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

I'm positive I have paid the 50%

 

Original finance agreement = £9640.66

Entitled to return the goods once 50% paid = £4820.33 (this is the figure in my agreement)

Based on my calculations paid to date = £5083.41

 

I never took out any extras (insurance or GAP) with them so I'm hopeful that there is nothing left to pay. I did take GAP with Arnold Clark so will need to look into cancelling that.

 

One thing that has popped into my head is that I have not had the car serviced, I have never had the service light come on to tell me that it is due (it's probably not far off due). Is it worthwhile getting the car serviced before handing it over? I'd really rather not have to spend money on it if I'm giving it back but again don't want to end up with a massive bill

Share this post


Link to post
Share on other sites

they cant charge you anything..

 

looks like they owe you.

 

no if you'll ever see that is another matter!!


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

Share this post


Link to post
Share on other sites

Thanks for your help, I'll not put it through a service!

 

Will await Advantage Finance reply to my email and letter

Share this post


Link to post
Share on other sites
looks like they owe you.

 

Even if 99% of the agreement had been paid, the finance company still wouldn't owe anything after a VT.

Share this post


Link to post
Share on other sites

I'm not looking to get anything back

 

I just want to make sure that I don't need to make any further payments so I am not paying for 2 cars at the end of February

Share this post


Link to post
Share on other sites
Even if 99% of the agreement had been paid, the finance company still wouldn't owe anything after a VT.

 

Hes talking about charges/ PPI etc or whatever they like to charge.


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

Share this post


Link to post
Share on other sites
I'm not looking to get anything back

 

I just want to make sure that I don't need to make any further payments so I am not paying for 2 cars at the end of February

 

That depends which date you officially terminate the agreement. You may be charged for the full month or a pro-rata payment.

Share this post


Link to post
Share on other sites
Please fill in your quit date here

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?




  • Tweets

  • Posts

    • Quiet...not really your last post was only 17 hours ago.Have you had any further thoughts with regards to your intended defence ?  Post a copy of your intended draft here then we can  pool some ideas and add to it.   Andy
    • Gick I agree with you, except POFA was 2012. According to the DVLA the IPC and BPA are the regulators and it is a waste of time complaining to them about a Private Parking Company not adhering to Code of Practices. They do have the wool pulled over their eyes, but do they care when they receive a nice income from it? The IPC don't have bars to serve drinks, but they do  have nice annual dinners, with their main sponsor being Gladstone Solicitors, but that could never be seen as another example of a conflict of interest could it?
    • If you have taken time off for them to replace faulty meters then this would definitely be recoverable. Do you have the dates and times? Also, please tell us about the wrongful information and the hardship it caused you
    • Now you await the court directions with regards to how the claim will proceed...you will have to prepare a further statement and disclosures..you have the advantage of why their application was dismissed and can add/concentrate on that part within your statement.
    • There are a number of points in respect of your proposed letter. Firstly, you are referring to the overpayment – "it has not been possible to resolve this matter…" As if this has been an ongoing issue. I'm not aware that it has. I'm not aware that you have had any dispute with them in which overpayment of £116.55 has been the subject. So in that respect, the reference you are making has no meaning. Secondly, you are proposing to provide them with documents which you going to rely upon. I don't think this is the place to do it. This is something that would come after you see what their defence is and you are preparing for a hearing. You are trying to get them too much information to early on. You should provide them with a minimum of information at this point. Your offering the mediation – they are not mature enough to be able to deal with this. If you want to get into mediation then you should say that for later. At the moment they will simply see it as another weak threat from somebody who doesn't really want to take legal action and who probably won't. All the rest sounds a bit like an attempt to be a lawyer – (which is generally speaking not a good thing). Also, you are offering them 28 days. This seems like a long time to me. A normal letter of claim would give only 14 days. As far as I'm concerned, 28 days is simply 14 more days in which to ignore you. I think firstly you need to decide whether you want to raise the issue of the overpayment by writing to them and telling them that you have calculated that you have overpaid them and that you like the money back. Of course this will draw no response whatsoever or it will draw threat. If you take that first step then I'm quite sure that you will be obliged to take the second step – which is to issue the letter of claim. Of course you can simply issue the letter of claim without any other warning. In which case:  
  • Our picks

    • This is a bit of a lengthy one but I’ll summerise best as possible.
       
      THIS IS HOW THE PHONECALL WENT 
       
      I was contacted by future comms by phone, they stated that they could beat any phone contract I have , (I am a limited company but just myself that needs a business phone and I am the only worker) 
      I told future comms my deal, £110 per month with a phone and a virtual landline, they confirmed that they could beat that, £90 per month with a phone , virtual landline  they also confirmed they would pay Vodafone (previous provider) the termination fee. As I am in business, naturally I was open to making a deal. So we proceeded. 
      Future comms then revealed that the contract would be with PLAN.COM and the airtime would be provided by 02, I instantly told them that this would break the deal as I have poor 02 signal in the house where I live as my partner is on 02 and constantly complaining about bad signal
      the salesman assured me he would send a signal booster box out with the phone so I would have perfect signal.
      so far so good.....
      i then explained this is the only mobile phone I use for business and pleasure, so therefore I didn’t want any disconnection time in the slightest between the switchover from Vodafone to 02
      the salesman then confirmed that the existing phone would only be disconnected once the new phone was switched on.
      so far so good....
      • 14 replies
    • A shocking story of domestic and economic abuse compounded by @BarclaysUKHelp ‏ bank complicity – coming soon @A_Gentle_Woman. Read more at https://www.consumeractiongroup.co.uk/topic/415737-a-shocking-story-of-domestic-and-economic-abuse-compounded-by-barclaysukhelp-%E2%80%8F-bank-complicity-%E2%80%93-coming-soon-a_gentle_woman/
      • 0 replies
    • The FSA has announced large fines against DB UK Bank Limited (trading as DB Mortgages) - DeutscheBank and also against Redstone for their unfair treatment of their customers.
      Please see the links below for summaries and full details from the FSA website.
      It is now completely clear that any arrears charges which exceed actual administrative costs are unfair and therefore unlawful.
      Furthemore, irresponsible lending practices are also unfair and unlawful.
      Additionally there are other unfair practices including unarranged counsellor visits - even if they have been attempted.
      You are entitled to refuse counsellor visits and not incur any charges.
      Any charges for counsellor visits must not seek to make profits. The cost of the visits must be passed on to you at cost price.
      We are hearing stories of people being charged for counsellor visits for which there is no evidence that they were even attempted.
      It is clear that some mortgage lenders are trying to cheat you out of your money.
      You should ascertain how much has been taken from you and claim it back. The chances of winning are better than 90%. It is highly likely that the lender will attempt to avoid court action and offer you back your money.
      However, you should ensure that you receive a proper rate of interest and this means that you should be seeking at least restitutionary damages - which would be much higher than the statutory 8%.
      Furthermore, you should assess whether the paying of demands for unlawful excessive charges has also out you further into arrears and if this has caused you further penalties in terms of extra interest or any other prejudice. This should be claimed as well.
      If excessive unlawful charges have resulted in your credit file being affected, then you should take this into account also when working out exactly what you want by way of remedy from the lender.
      You should consult others on these forums when considering any offer.
      You must not make any complaint through the Ombudsman. your time will be wasted, you will wait up to 2 yrs and there will be a minimal 8% award of interest and no account will be taken of any other damage you have suffered.
      You must make your complaint through the County Court for a rapid and effective remedy.

      http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/120.shtml
      http://www.fsa.gov.uk/pubs/final/redstone.pdf
      http://www.fsa.gov.uk/pubs/final/db_uk.pdf
       
      http://www.fsa.gov.uk/pages/consumerinformation/firmnews/2011/db_mortgages.shtml
      Do you have a mortage arears claim to make? Then post your story on the forum here
        • Like
      • 0 replies
    • 30 Day Right To Reject - Vehicle Casualty Report. Read more at https://www.consumeractiongroup.co.uk/topic/415585-30-day-right-to-reject-vehicle-casualty-report/
      • 57 replies
×
×
  • Create New...