Fast Motor Finance Ltd /Advantage - problems with car and now wish to VT

[just_jue]

The main one I was working from was the which online one. 

[BankFodder]

So I see that you are mixing and matching your sources of help. This is really not a good idea and too many cooks spoiling the broth springs to mind.

We are putting in quite a lot of work here try to help you and if you then go ahead and take advice from elsewhere it can put us into difficulty because advice might clash or even conflict.

Of course no problem at all, you using Which or anywhere else – but I think you ought to decide where you are going and stick with it

[just_jue]

Yes you are quite right. 

I was looking at a few examples 

[just_jue]

Hi BF, I have taken on-board the advice you added and made some changes.

 

Would it be worth pointing out that they the garage did not responded to our last letter ?

 

 

I write in compliance with the practice direction on pre action conduct.

On the 9th September 2020 I entered into an HP agreement with Advantage Finance to purchase a Ford Kuga 2013 registration xxxxxx.
Within less than 2 months and a total 1500 miles the car developed a gearbox problem.
The Manufactures of the vehicle , Ford have confirmed in writing that the gearbox must be serviced every 35k.
The service receipts that were supplied with the car show that the first two services have been correctly carried out but paperwork for the most recent service is missing.
Ford have confirmed that the most recent service was only for the engine and not the gearbox as recommended by them. 
Ford have also confirmed that a failure to service the gearbox correctly at the required internal is likely to produce exactly the kind of failure that we have experienced.

It is clear the vehicle is not of satisfactory quality and that you are in breach of your contractual obligations.

Your breach of contract is a fundamental breach and require the contact to be terminated and we are released from our obligations under it.

Accordingly I require that you make arrangements to collect the vehicle, terminate the finance agreement and to refund all the monies that have been paid under that agreement.

Additionally, in reliance on the contract I have incurred additional losses – in particular the expenses associated with taxing and ensuring the vehicle and I require the reimbursement of these costs which are now wasted.
 

[BankFodder]

No I wouldn't bother

[just_jue]

Hi, my daughter has financed a car through Advantage finance and was looking to VT it in a couple of months.

 

I've looked over the paperwork and it's a HP agreement but I can't see anywhere your rights to VT printed anywhere unlike the paperwork I had when I VT'd a car before.

 

Can you VT all HP agreements once you pay the 50% or is there certain ones you can't?

 

I've looked on their website but it says very little about this.

 

Thanks again

 

JJ

[dx100uk]

as long as it says HP agreement regulated by the CCA  you can.

 

is this the same car regarding your son-in-law thread from 2020?

 

 

[just_jue]

Hi DX yes it is, we got the filters done at our expense and tried fighting them but no joy.

 

Thanks for clarifying that for me, just strange why it's not a legal requirement for them to have put about the VT on the agreement.

[dx100uk]

The filters in the gearbox were clogged due to lack of gearbox oil changing at xxxxK miles service??

 

Dx

[theoldrouge]

On 21/04/2022 at 15:06, just_jue said:

Hi DX yes it is, we got the filters done at our expense and tried fighting them but no joy.

 

Thanks for clarifying that for me, just strange why it's not a legal requirement for them to have put about the VT on the agreement.

It is a requirement 

The agreement must set out your rights under s99 together with the amount payable 

[AndyOrch]

Topic open

[just_jue]

Thank you.

My daughter is now in a position to purchase a new car and want to VT this one.

Just checking can the VT request be done via email or does it need to be done via recorded letter, also just to make sure that they can no longer charge for collection but they may try to.

 

Her next payment is due around the 1st if she send the VT tomorrow will they be enough time so she doesn't need to make another payment? 

[dx100uk]

you must write

get free proof of posting.

 

as long as shes over 50% cant charge for anything.

[just_jue]

Thank you DX, they have paid well over 50% now

[honeybee13]

Thread reopened.

HB

[just_jue]

Thank you:

Sent in the VT letter last week and just had this email back:

 

"

Please read the full contents of this email carefully.

Further to your recent enquiry regarding the voluntary termination of your above numbered agreement, please find below important information outlining the required arrangements.

Upon termination of the above agreement you will need to pay:

1. The outstanding arrears on your account (applicable if already paid 50% of the total amount payable) = £0
2. At least one half of the total amount payable as stated on your Hire Purchase Agreement. This sum takes into account payments you have already paid, any deposit you paid at the start of the agreement and any arrears not shown in (1) above = £0
3. Any outstanding collection charges = £0

The total you will need to pay under this section is £0

If you purchased any insurance products, other than GAP insurance, at the same time as your motor finance and they have not already expired, they will be cancelled upon termination and a pro-rata refund will be applied to your account.

In the case of GAP insurance the policy will be cancelled upon the termination of the agreement and a pro-rata refund will be applied, which will mean that no further sums will be payable (other than arrears) in respect of the policy.

Any other outstanding sums (e.g. payments for expired policies and/or any overdue installments) will remain payable under the terms of your insurance agreement.

In order to settle the insurance element of your agreement and claim any rebate to which you are entitled, you need to pay the amount set out below. This will also ensure that you have no further liability under the insurance element of the contract.

The amount required to do this is £0
Less Rebate £0

Total amount payable under this section £0

Condition of Goods

The goods must be returned in a condition commensurate with their age and mileage, both mechanically and cosmetically. Should the goods not be in this condition when returned you will be required to pay to us the amount required to return the goods to such condition. This amount will be in addition to any sums detailed above (please refer to the terms and conditions of your Hire Purchase Agreement).

Our definition of good repair and condition is that the vehicle must:

Require minimal refurbishment to be ready for resale
Have a current MOT certificate or require little or no work for the issue of a new certificate
Be free from mechanical or body damage
Be in its original paintwork, trim and specification (as at the time of purchase)

If you are in any doubt as to the condition of the vehicle, you may choose to obtain an independant report from an organisation such as the RAC or AA to confirm the above.

The goods must be returned to us within 21 days of this email to complete the Voluntary Termination.

In order to obtain details of our nearest agent to you please contact us on 01472 570610.

Alternatively, we can arrange for the goods to be collected from your address. An upfront fee of £80.00 will be payable for this.

Alternatively you may opt to Voluntary surrender:

You may return the vehicle to us on a voluntary basis and it will be sold at auction at the best possible price. Net proceeds from the sale will be credited to your agreement in order to reduce the outstanding balance. You will remain liable for the remaining balance and an arrangement will be needed to settle this.

The outstanding balance on the agreement is currently £4869.5. Without knowing in advance the actual price that the vehicle will be sold for, it is difficult to set out exactly what your remaining liability is likely to be, however it is estimated that the vehicle, depending on mileage and condition, would be sold for around £2488 (after costs)*, leaving a potential shortfall of £2,381.50. You should be aware, however, that this is an estimate and cannot be guaranteed. Any shortfall may be reduced with an interest rebate if the agreement is settled early.

Should you decide on this option please contact us and we will make arrangements for the return of the goods.

* In some cases it may not be cost effective to surrender the vehicle where the costs involved may be greater than potential sales proceeds. Please contact us for further advice.

We look forward to hearing from you.

Yours sincerely,
Advantage Finance Ltd."

 

It reads a load of rubbish, once you have paid the 50% the car is the final payment any shortfall is not liable.

Also when I have done a VT before I have never been charged a collection fee

Thanks

JJ

[dx100uk]

they cant charge collection fee to complete VT.

simply tell them their car is ready for their collection, unless its not too far to drive  to one of their local agents?

the rest is done and dusted £0.

 

[just_jue]

Exactly what I thought but they won't get the collection done without the £80 charge paid first, we could deliver it to the garage that sold it.

 

Going to draft a reply this afternoon.

[dx100uk]

then simply advise them you will be doing that.

dont forget the v5c bit

dx

[just_jue]

I was thinking something along these lines:

 

Thank you your recent email it’s content has been noted;

Under s99 I am entitled to voluntary terminate this agreement. I am not liable for any collection charge, I am prepared to return the vehicle to the garage the car was purchased from.

In your definition of good repair you say the paintwork trim must be original as at a time of purchase, can you please supply the exactly list that was made at the time of purchase so we can double check.
The vehicle has a valid MOT certificate.

As I have sent correspondence regarding this matter no further payments will be made.
 

[dx100uk]

forget anything about paintwork damage etc...they cant ..touch luck on them you simply ignore if they do.

and yes cancel the DD NOW. stop them sucking on it.

 

2 hours ago, just_jue said:

Thank you your recent email it’s content has been noted;

I am prepared to return the vehicle to the dealership the car was purchased from.

is this suitable to you? 

 

[theoldrouge]

Their definitions are of no account 
Ensure that you photograph the car from all angles prior to return 
They cannot charge for collecting the car or as advised you can simply return it 

[just_jue]

Said that we would drop it off, but they won't give us the address until we ring and book it in even after we told them we would drop it off.

Just being stupid now I think

[theoldrouge]

Finance companies have always hated VTs which is why they try to make enforcing your rights as difficult as possible 

[just_jue]

Car dropped off at the auction today, took loads of photos of inside and out.

Lets see what they try and complain about when it sells? But as they put in their 'independent' report before it will be fair wear and tear for a vehicle of its age.