Voluntary termination of Peugeot Just Add Fuel

blackste

The paperwork they send you will almost definatly be asking you to sign to say you will pay for all damage, and excess mileage and things like that. Dont entertain them. The legislation is on your side. Just post a template letter with the relevant details for you, and thats that. If the inspector does his inspection, and you are happy with what he says, sign that. Other than that, sign nothing unless you are 100% sure you are happy with it.

onlyroz

How does this sound for a voluntary termination letter (sent by email and recorded post):

Dear Sir/Madam

Voluntary Termination of agreement
Agreement number: ####
Car registration number: ####

I am writing to notify you that I am exercising my right to terminate the above agreement under Section 99 of the Consumer Credit Act 1974, effective immediately. I understand that I shall be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act 1974.

My finance agreement states, under the “Termination: Your Rights” section, that if I have repaid more than £####, and I have taken “reasonable care” of the vehicle then I will not have to make any further payments. As I have paid more than this amount, and as the car is still in reasonable condition, I will not be making any further payments beyond the payment of £### due on January 17th 2016.

Please send me details of how the vehicle can be returned to you. You will be aware that the Consumer Credit Act prevents you from levying a charge for the recovery of this vehicle and the guidelines also state that if you require me to deliver this vehicle it must be no more than a reasonable distance from my registered address. I consider a reasonable distance to be 30 miles.

Please also confirm receipt of this termination request in writing, and also details of any further amounts owed to terminate my servicing and GAP insurance contracts.

I will be following up this email with a letter sent by recorded delivery.

Yours faithfully

####

forgotmyname

If its just dirty so that a quick run round with the vac and a bucket of water is all it needs then leave it, if its stained and really dirty then spend a bit of time giving it a clean.

If you were buying it and spending your life savings or having to get a loan would you buy it in its current condition?

onlyroz

Any thoughts on my termination letter?

dannyrst

onlyroz wrote: »

Any thoughts on my termination letter?

I'm no expert, but it seems wrong to put in that you won't be paying for the car to be picked up/you won't be driving it further than 30 miles until they respond to tell you to either drive it or pay for delivery.

blackste

This is the letter i used.

TO BE USED WHEN YOU WANT TO TERMINATE A HIRE PURCHASE AGREEMENT (courtessy of Debtline UK)
WITH YOUR CREDITOR
(Your home address)
__________________________
__________________________
__________________________
__________________________
Date:______________________
To: ___________________________
___________________________
___________________________
___________________________
Dear Sir/Madam
VOLUNTARY TERMINATION OF AGREEMENT
Account No: (CAR MAKE/MODEL/REGISTRATION NO.)
I am/we are writing to notify you that I am/we are exercising my/our right to terminate the above Agreement under Section 99 of the Consumer Credit Act 1974.
I/we understand that I shall/we will be liable to you for the amount calculated under the formula in Section 100 of the Consumer Credit Act
Please send me/us details of how the vehicle can be returned to you.
Please confirm receipt of this request by telephone/fax to me/us on (your telephone number or fax number).
Yours faithfully
(Your Signature)

REMEMBER
TO KEEP A COPY OF LETTERS YOU SEND TO YOUR CREDITORS

blackste

Dont give them any extra waffle. They know their rights, and yours. Dont bring up any points to discuss, or it gives them that chance. Only discuss things if they bring it up.

In regards the payment, keep paying for now. They should/will give you a date to inspect and collect the car. That is when you stop paying, as the car is now theirs. They have 14 days from them receiving the letter to do this. After this point, you contact them and give them 2 options. Either you park the car on the public highway, and leave it for them, or you charge them storage on your drive. The car is theirs, so wont be insured or taxed unless they do it.

blackste

Btw, this may or may not be obvious, but send all post recorded delivery.

zappahey

blackste wrote: »

Btw, this may or may not be obvious, but send all post recorded delivery.

Pointless expense. If the recipient wants to play games (not that I'm suggesting they would in this case) they simply need not sign for the post. All that is required is free proof of posting. First class mail is deemed to have been delivered two days later.

nomoneytoday

As the offer is a PCP, are you sure you paid back more than 50%, as many of these don't reach the half way point until pretty close to the balloon time