Voluntary termination of a tractor

Rednell

Hi all, sorry if this is a bit of a specialist area, but does anyone know would a tractor HP agreement work the same as car HP, ie you pay over 50% of the finance and can hand the vehicle back?

Having no ends of problems with it, and thus want shot of it without ending up with a liability.

Thanks in advance

B.E.N

Rednell wrote: »

Having no ends of problems with it, and thus want shot of it without ending up with a liability.

Thanks in advance

Be careful about 'voluntary termination', whilst you sometimes can do it and be left without liability, it will be recorded on your credit file and can look bad to further creditors. This is assuming of course, that the HP was taken out in your name, not in that of a Company.


If the product is faulty, you may have a right to recourse under Section 75 of Consumer Credit Act. I'm not an expert, but it's something worth "Googling" and may be of use to you.

Rednell

Many thanks for the reply.

We've lost several days work due to the fact its been locked up in the dealership being taken to bits- it was bought as an ex demonstrator, but it shouldn't have anywhere near the amount of problems it has got.

Think will look into what you were saying about the goods being faulty-the finance company are of course trying to make out that it must be our fault, even when faced with evidence from their own technicians. :mad:

B.E.N

Rednell wrote: »

Many thanks for the reply.

We've lost several days work due to the fact its been locked up in the dealership being taken to bits- it was bought as an ex demonstrator, but it shouldn't have anywhere near the amount of problems it has got.

Think will look into what you were saying about the goods being faulty-the finance company are of course trying to make out that it must be our fault, even when faced with evidence from their own technicians. :mad:

Yes, would have thought that tractors should be able to withstand quite a bit before having issues.

There's many avenues to explore. As you state that you've suffered an actual monetary loss, have you thought about taking the issue to the Small Claims Court for compensation*?

Linky: http://www.hmcourts-service.gov.uk/infoabout/claims/index.htm


* I hate that word as it conjures up images of Ambulance-Chasers, but, if you have suffered a real, tangible loss, then you should be compensated for this.

Rednell

B.E.N wrote: »

Yes, would have thought that tractors should be able to withstand quite a bit before having issues.

There's many avenues to explore. As you state that you've suffered an actual monetary loss, have you thought about taking the issue to the Small Claims Court for compensation*?

Linky: http://www.hmcourts-service.gov.uk/infoabout/claims/index.htm


* I hate that word as it conjures up images of Ambulance-Chasers, but, if you have suffered a real, tangible loss, then you should be compensated for this.

we've been told its more or less completely sorted, just a couple of things to finish but we shall have to see- fortunately its all done under warranty. If it still has problems, we will certainly consult legal advice. The fact it's sitting idle means its not out contracting and thus earning any money and paying for itself.

Thank you once again.

B.E.N

Sure thing.

Hopefully will be sorted soon.

Wish you best of luck with it!

-Ben