PCP and voluntary termination - what are my rights?

samtaylor1986

Hi all I'm after some advice regarding PCP and voluntary termination.

I have a Clio on PCP and I have contacted them to proceed with a voluntary termination. As I have paid over 50% of the finance I can give the car back without having to pay any additional cost. However on the phone the woman said I would have to sign a slip and return it asap and only then when they had my signature would they proceed with the VT. wanting to get rid of the car asap I did this - my signature was agreeing to pay for any damages, or excess mileage on the car!!
After some research I have seen a number of websites that say in no uncertain terms should you sign anything and in fact when you request VT the finance company have to proceed regardless as this is the law. They also say that once you request VT and terminate the contract then all previous agreements are more or less null and void. For example excess mileage charges. I have gone over the mileage by around 4000 miles.
Basically I am just wondering where I stand legally with regards to proceeding with the VT and what legally I have to and don't have to pay for........yes I know I have gone over the mileage allowance and initially signed the document to say I would pay excess charges BUT if I can legally argue against having pay anything then I will.

Thanks

Sam

TadleyBaggie

Duplicate thread: https://forums.moneysavingexpert.com/discussion/5691195

neilmcl

Follow the advice you've seen on the other websites and don't sign anything. A letter from you stating that your are voluntary terminating your agreement is all that is required.

Legally your only obligation is to pay 50% of the total amount payable and hand the car back in a reasonable condition, anything else is unenforceable but this may not stop them from demanding you pay excess mileage etc, they may even go as far putting into the hands of a debt collection agency. So it really depends on how far you want to take this.

http://www.legalbeagles.info/forums/showthread.php?77612-A-guide-to-voluntary-termination-Your-rights

molerat

Excess mileage charges on VT have been deemed acceptable within the terms of the CCA by the FOS. Leaglebeagles keep on about them being not allowable but case history disputes that assertion.

neilmcl

molerat wrote: »

Excess mileage charges on VT have been deemed acceptable within the terms of the CCA by the FOS. Leaglebeagles keep on about them being not allowable but case history disputes that assertion.

What "case history"? The FOS can have any opinion they like, and tbh why wouldn't they back the industry on this but they don't adjudicate on the law, only the courts do this and there's no reports as yet of any finance co. going that far, mainly because they know, on the point of law they'll likely lose.

Of course it's a risk and until someone from either side gets the decision they don't want from the county court and appeals then no precedent is going to be set.

motorguy

molerat wrote: »

Excess mileage charges on VT have been deemed acceptable within the terms of the CCA by the FOS. Leaglebeagles keep on about them being not allowable but case history disputes that assertion.

FOS decisions are not enforceable on consumers and.

Even they're own staff think they're !!!!.

http://www.thisismoney.co.uk/money/news/article-4425464/Staff-meltdown-Financial-Ombudsman.html

motorguy

neilmcl wrote: »

Follow the advice you've seen on the other websites and don't sign anything. A letter from you stating that your are voluntary terminating your agreement is all that is required.

Legally your only obligation is to pay 50% of the total amount payable and hand the car back in a reasonable condition, anything else is unenforceable but this may not stop them from demanding you pay excess mileage etc, they may even go as far putting into the hands of a debt collection agency. So it really depends on how far you want to take this.

http://www.legalbeagles.info/forums/showthread.php?77612-A-guide-to-voluntary-termination-Your-rights

^^^^^^^^^^^^^^^^

This. In a nutshell.

Dont sign anything, use a templated letter.

neilmcl

motorguy wrote: »

FOS decisions are not enforceable on consumers and.

Even they're own staff think they're !!!!.

http://www.thisismoney.co.uk/money/news/article-4425464/Staff-meltdown-Financial-Ombudsman.html

I particularly liked this quote:

"Investigators are put under pressure to resolve complaints about which they have no knowledge, experience or training. The only way they can do that is by turning the consumer down."

samtaylor1986

Hi all thank you for your responses.....

The trouble that I have is I have in fact signed the slip!!! On the phone the employee told me that unless I signed this form they would NOT proceed with the VT. so I sent it. I now know this is untrue and they should have just proceeded with the VT as requested. But never having done this before I listening to the advice of the employee.

I have gone to citizens advice and they have advised me that what they have done is against the law. I have since contacted Renault VT team to explain all this and complain about the way I was treated and they have denied all knowledge of asking me to sign the slip!!!! They said the pack they sent me was for a guide only - yet why would they put a slip in there and say it has to be signed if they didn't want it back in the first place?!

They are complete liars!!!

Herzlos

Do you have any evidence that they pressured you to sign the slip, like a letter or phone recording?

You could always be really cheeky and phone them back to ask them if you really need to sign the slip, without giving them account details, and record that.

samtaylor1986

There have been several emails back and forth but basically they are saying the pack they sent me (with slip in that I was told to sign and send back before they would proceed) was for my information only and are denying telling me I had to sign it. However they also say they will only take the VT with written signed confirmation.

My argument is that they told me to sign the slip and send it back. If they are denying saying this how would they have received a signed written request?! Not once did they say 'we can VT but we need a written request' if they had I would have done a letter and not signed the slip like they advised me too!

They're being quite difficult about it to be honest but in a response the woman said they record all conversations (as a way to quiet me down I think) so I've requested a copy of the phone call conversation.