Voluntary termination of Peugeot Just Add Fuel

CB1878

nomoneytoday wrote: »

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

Think that depends on the amount of deposit you have put in? A reasonable deposit means you are closer to the 50% figure right away, and a lower amount borrowed would lower the interest charge overall, again reducing the total amount payable.

I think that is right?:undecided

onlyroz

I'm definitely over the 50% threshold. The letter was sent and I can see that it arrived this morning from the tracking number I was given. No response yet to either email or letter but I guess I'll be hearing from them soon.

blackste

If i recall correctly, MB responded fairly quickly, and arranged inspection exactly 14 days from them receiving my letter. Remeber not to sign anything that you are not 100% happy with. Take pictures of all of the panels, and interior with a daily paper from the day of collection. When they complete the inspection, if you disagree with anything the inspector writes, either dont sign the form, or, write something like "i do not agree with this".

Remember, your goal now is to get the car back to them with the minimum of cost to you. Their goal now is to try and screw as much cash out of you as they can. They will likely try and bill you for every scrape and nick on the car. There is a guideto what is concidered reasonable wear and tear, if you search for "reasonable wear and tear", the BVRLA one the standard.

If they try and bill you, you have to find good arguements as to why you are not paying. Any damage within the guides, thats your arguement. Anything outside of that is harder. Most people end up paying something in my experience. If you refuse to pay anything, be prepared to fight. A lot of people eventually settle on an amount they are prepared to pay to make the hassle go away. Be prepared to haggle hard with them though, as the law is largely on your side, and there are so many varied court verdicts thats its hard to predict which way things will go.

Best of luck.

onlyroz

My car is £1000 in negative equity - that's the amount I would lose if I took it tomorrow to Webuyanycar.com, or traded it in at a dealership. I could possibly break even if I sold it privately, but last time I tried to sell a car through auto trader I found it so stressful that it made me ill, and I ended up selling it to a dealer anyway.

My goal is to recoup as much of the negative equity as possible. Here's hoping it all goes smoothly...

onlyroz

I've received a letter from Peugeot. They want me to sign a form stating the following:

I confirm that I'd like to go ahead and end my agreement and return my vehicle in line with my rights under the Consumer Credit Act 1974. I have read the information in your letter enclosing a liability quotation and understand I'm liable for the amount specified and any arrears. I also understand that the insurance element is not subject to my right to end the agreement. The enclosed cheque represents the total of my liability under the vehicle element plus the amount needed to settle the remaining loan repayments for the insurance element. I also understand that I may have to pay an additional sum in respect of any damage to the vehicle or any excess mileage charge. I will be contacted separately by your agent regarding this.

I'm happy with the above, apart from the last sentence.

They are asking for £227 to settle the insurance, and £0 to settle the car finance, which is about what I was expecting.

So should I sign the form with the last sentence crossed out? Or should I send them an alternative letter instead. I'm happy to pay the £227 but I don't want to be saddled with any other bills. There shouldn't be any excess mileage charges because i paid for 45k miles but only did 26k.

rs65

onlyroz wrote: »

They are asking for £227 to settle the insurance, and £0 to settle the car finance, which is about what I was expecting.

Can I just ask why you don't run it for a few more months and VT just before the balloon payment is due?

onlyroz

rs65 wrote: »

Can I just ask why you don't run it for a few more months and VT just before the balloon payment is due?

The balloon is not due until June, and the monthly payments until then are £254. For various reasons I want to change my car before then, and I don't want to trade it in for another Peugeot.

fabricator1

having just been involved in a disputed VT would suggest looking at the BVRLA ( British vehicle rental and leasing association )site it gives guidance for lease companies and what is expected from the customer eg damage repairs
Read their VT letter thoroughly
They sent me a bill for £380 for damage repairs eg.chips and dents and scuffed wheel trims.i disputed it and ended up paying them for just the wheel trims £30

onlyroz

fabricator1 wrote: »

having just been involved in a disputed VT would suggest looking at the BVRLA ( British vehicle rental and leasing association )site it gives guidance for lease companies and what is expected from the customer eg damage repairs
Read their VT letter thoroughly
They sent me a bill for £380 for damage repairs eg.chips and dents and scuffed wheel trims.i disputed it and ended up paying them for just the wheel trims £30

What steps did you take to back up your dispute? I am going to take some dated photographs and a video on the day of collection.

fabricator1

there were a few points in my dispute
the VT letter was unclear and misleading,didn't state a second report would take place.it said a condition report would be carried out in my presence.i took this as being the report on collection

when the car was collected driver filled in a the vehicle condition report indicating damage to wheel trims,everything else was ticked as ok.which i signed thinking it was the final report on condition.i saw no chips or dents

3 weeks later received a summary report of damage and invoice for repairs for chips on bonnet,wing, door pillar dents on roof,wheel trims and excess mileage.

as the BVRLA guide states they must send the full second report with photos,they did not.this was only sent to me after i disputed the damage.
the inspection must take place in your presence and in an controlled environment,the photos of the damage showed the car was wet and how could they prove the photos were of my car

the vehicle condition report they filled in on collection in my presence which i signed had 27479 mileage but when the second report came it had 27569 mileage which meant the car had been driven for 90 miles after leaving my address,in fact they drove it from Swansea to Bristol

visit the BVRLA site because it tells in detail what is expected from both you and them