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Voluntary Termination - Vehicle
Soldierearth54
Posts: 231 Forumite
in Motoring
I' am helping my girlfriend with the process of handing back her car as she has paid half the finance agreement. I have written a letter with her intentions and made contact with the auctioneer she was advised to take the car to.
The finance company advised that the auction house who were a "professional company" would look over the vehicle and check for any mechanical/bodywork issues and if there were then this may incur in financial penalties.
Can someone confirm or deny this to be true - I did not expect her to have to pay more out when handing the car back as she has followed the cancellation part of the terms and conditions.
Any advice would be of benefit.
The finance company advised that the auction house who were a "professional company" would look over the vehicle and check for any mechanical/bodywork issues and if there were then this may incur in financial penalties.
Can someone confirm or deny this to be true - I did not expect her to have to pay more out when handing the car back as she has followed the cancellation part of the terms and conditions.
Any advice would be of benefit.
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Comments
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I have handed 3 cars back using the voluntary termination clause, damage to the car is something they warn you about however normal wear and tear is usually acceptable.
My cars were generally in good condition and had been serviced as per the manufacturers requirements, no serious scratches or dings, just the odd stone chip.
I never had to pay any extra, however I have read posts from people who have (Mercedes seem to want the cars back in showroom condition which I think is more than a little unreasonable).
For your peace of mind maybe take a good look around the car before it goes to the auction, take some close up photos of it as evidence should someone try to claim there is any damage in the future.
You could try to be there when the car is assessed for damage, however when I dropped my cars off it was a case of go into the office hand over the keys, sign a form and leave it in the car park.0 -
They certainly checked mine over when i did a VT - to be fair, they have to protect themselves from getting a wreck back (not saying you would of course), but the finance agreement will compel you to take reasonable care of the car whilst in your posession and for it to be in reasonable condition for age/mileage
Many, but not all finance companies/auction houses follow the BVRLA guide - some info here - http://www.bvrla.co.uk/Advice_and_Guidance/Fair_wear_and_tear_standards.aspx
Worth the cost of a valet and/or a visit from a smart repairer beforehand to avoid any excess damage costs as this will likely be cheaper than the finance co or auction house will charge!0 -
I need to hide the marks to the boot where the wife has been catching the trim with the pushchair!0
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They certainly checked mine over when i did a VT - to be fair, they have to protect themselves from getting a wreck back (not saying you would of course), but the finance agreement will compel you to take reasonable care of the car whilst in your posession and for it to be in reasonable condition for age/mileage
Many, but not all finance companies/auction houses follow the BVRLA guide - some info here - http://www.bvrla.co.uk/Advice_and_Guidance/Fair_wear_and_tear_standards.aspx
Worth the cost of a valet and/or a visit from a smart repairer beforehand to avoid any excess damage costs as this will likely be cheaper than the finance co or auction house will charge!
Thanks for this - had a look at the link. I'll probably fall under the category of unnaceptable wear and tear in relation to over 25cm scratches.
I'm not too keen on paying to have this repaired before i hand it back as there's a chance they might not charge me. I phone the auction company my finance company told me to send it to and asked them the procedure. They sounded like cowboys and said I was just to bring the car in with documents, keys and leave it with them. When I asked them about them assessing it they didn't seem to know what I was talking about!0 -
Dated photo's may protect you if they accidently damage it or used it as a runaround for a while.
Cant hurt.Censorship Reigns Supreme in Troll City...0
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