Can i End My Hire purchase

isaac_3

Hi all

i am despirate for some help with my HP agreement with i signed with Welcome Finance.
I took out a £4745 finance to buy a car but after the first year everything that could go wrong with the car started to go wrong up to the extent now that the money i am spending in repairing the car is actually almost as much as the monthly payment that i am making to welcome finance.
I tried explaining this to them but all they are interested in is the money that i pay them.
They say that since i didn't buy the car from their showroom there is nothing they can do.
So now i want to end the agreement with them but they are telling me that even if i do that i would still be liable to make my monthly payments of £212 per month even if they come to collect the car.
WHAT ARE MY OPTION HERE as i am running out of ideas.

Isaac:money:

dollarjon

Read your agreement- most will let you return the car in good condition half way through the payment plan.
Welcome are proper dodgy so watch out

isaac_3

i have just checked the agreement and it says the following

TERMINATION:YOUR RIGHTS

---

You have the to end this agreement.if you wish to do so,you should write to the person authorised to receive your payments. We will then beentitled to the return of the goods and half the total amount payable under the agreement , that is £3868.72p

of which i think i have paid £3181.95 so far
its going to cost me about £2000 to get the cambelt,timing and water pump done isn't it worth it for me to pay the balance £686.77p then terminate the contract?
Also while we are on the subject at the end of last month they threatened to come and collect the car.
The 3rd party that was going to come a collect it rang me up that he was coming the next day so i phone welcome and paid over the phone to stop that action stupid me
But reading the contract it says below

REPOSSESSION: YOUR RIGHTS

---

if you fail to keep to your side of this agreement but you have paid at least one third of the total amount payable under the agreement,that is £2579.15p
we may not take back the goods against your wishes unless we get a court order.if we do take them without your consent or a court order,you have the right to get back all the money you have paid under the agreement.
Does this mean that if they do collect the car without my consent they would have to pay me back?

isaac_3

i have just checked the agreement and it says the following

TERMINATION:YOUR RIGHTS

---

You have the to end this agreement.if you wish to do so,you should write to the person authorised to receive your payments. We will then beentitled to the return of the goods and half the total amount payable under the agreement , that is £3868.72p

of which i think i have paid £3181.95 so far
its going to cost me about £2000 to get the cambelt,timing and water pump done isn't it worth it for me to pay the balance £686.77p then terminate the contract?
Also while we are on the subject at the end of last month they threatened to come and collect the car.
The 3rd party that was going to come a collect it rang me up that he was coming the next day so i phone welcome and paid over the phone to stop that action stupid me
But reading the contract it says below

REPOSSESSION: YOUR RIGHTS

---

if you fail to keep to your side of this agreement but you have paid at least one third of the total amount payable under the agreement,that is £2579.15p
we may not take back the goods against your wishes unless we get a court order.if we do take them without your consent or a court order,you have the right to get back all the money you have paid under the agreement.
Does this mean that if they do collect the car without my consent they would have to pay me back?

Phoenix79_2

If you have paid at least a third and they collect the car without your consent then yes...you would be entitled to all your money bacl. Don't get your hopes up though as they would have probably had the court order with them. They aren't partculary hard to get.

If you pay the £686.77 to bring it up to the half and think its over then think again. They will only accept the car back if its in good condition (ie normal wear and tear). Considering its going to need £2k worth of repairs then they will more than likely lodge an aftersale claim against you for it. You can't hand back faulty goods.

pigginsexy

I had a car with Welcome and have had no end of problems from start to finish with the HP Agreement. Basically i made them take me to court and guess what i won by default as they didnt even bother to turn up.

I still have the car on my drive and it has been here since February 06. I just want them to take the thing away, but they wont. The only thing i can do now is deliver it to them, but its untaxed, uninsured and no MOT, so i cannot drive it. The other option is to get it towed to them, but i have been told by the courts i cannot legally do this either.

Technically the car is theirs as i VT'd the agreement half way through, but they wont collect it.

With regards to the repairs etc, i would VT the agreement (if you PM i can give you the letter). I would also ring Trading Standards, they have a lovely thick filing cabinet full of Welcome. Well mine did!!!!!! I found them so helpful and they even got me through the court case!

Give them a ring, your local office, if they cannot help, PM me and i will give you my local office number and they can may be able to help.

isaac_3

So basically there is nothing i can do.
just spend the £2000 to fix the car and continue to pay them. ?

Phoenix79_2

pigginsexy wrote:

I still have the car on my drive and it has been here since February 06. I just want them to take the thing away, but they wont. The only thing i can do now is deliver it to them, but its untaxed, uninsured and no MOT, so i cannot drive it. The other option is to get it towed to them, but i have been told by the courts i cannot legally do this either.

Technically the car is theirs as i VT'd the agreement half way through, but they wont collect it.

Write to Welcome and say that you will start charging them storage costs for their car unless they move it.

Lochranza

You stated that you have spent a considerable expense in repairing the car since you aquired it. This suggests to me that the car was not of satisfactory quality when it was supplied. Normally in such circumstances you would return to the supplier, ie the garage, to get the problems fixed. Fair wear and tear items would be exempted. However because you signed a finance agreement you can hold the finance company equally liable with the supplier for the supply of goods which are not of satisfactory quality. In other words you can hold the finance company responsible for the cost of the repairs. The finance company's responsibility lasts for the currency of the loan agreement, ie HP loan, until the final payment is made.

You should contact Consumer Direct for further advice. You are in a stronger position than you think.

Rusco

You mentioned that the car was not from a Welcome finance showroom, did you find the car yourself?

How much would the car be worth to you fixed, might not those repairs doing for a long time after....

isaac_3

i actually bought the car from Portland carriage
and the car would be worth about £1800 - £2000 now.
I have just come back from a Meeting with Welcome Finance
were i asked them to give me and up to date statement.
from the statement i discovered that they also charged me £245 for a suppossed short-Term Insurance which i have being paying £11 per month
so they said they i need to pay £650 to get to my 1/2 way point and write a letter sying that i want to terminate my agreement and that i would be hearing from thier head office for them to confirm what the balance actually.
But all along i have being paying them £212.13 per month, but they calculated it at £201 per month saying that the £11 per month was for insurance.
They said that i cannot cancel this insurance because its more than 30 days old.