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Moneybarn final billing letter - help needed

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I am currently in the VT process with Moneybarn and would like some advice as to how they've come to the final balance as if I understand the CCA sections 99 and 100 correctly I am not liable for anything at all.

The original agreement was for 54 payments of £229 so total loan agreement was £12,366. As per the account balance at point of return figure this meant I had paid a total of £10,357. The £175 relates to arrears on the account from a missed payment a couple of months ago of which I was in a payment plan prior to VT.

I don't understand their less half rule figure of £1834.88 as I believe this would have been half of £12,366 which is £6183 and I've paid over £4000 more than this. If I understand sub-section 1 of CCA 100 correctly there is no provision for missed payments/arrears and the only provision is for being liable for half the amount due.

Can someone advise where I stand please before I respond to Moneybarn? I should point out that the car was in poor condition when it was returned (couple of scratches and no service history) so part of me feels I've gotten away with this but equally the car was almost 10 years old.

Just wondering where I go next. I have seen in other threads/forums that Moneybarn are notorious for not knowing the VT process. 




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.If the sum of payments made and arrears before termination exceeds 50% of the total price, 
than the debtor is only liable to pay the arrears. 


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