Agreements That Feature Voluntary Termination Rights

Hi Peter. First, if there are records showing that a defect is identified/reported during the manufacturer`s warranty period, it does not matter if the original dealer no longer exists. Every Vauxhall dealer should be able to perform the warranty work and recover the costs from Vauxhall. If you have evidence of a problem reported under warranty, contact Vauxhall`s head office and ask what is the best way to proceed. If you make a fuss (politely, of course!) and refuse to get messed up, you should eventually get somewhere. You can`t use the emissions issue as an excuse to cancel the contract because you just don`t want the car anymore. If you want to claim compensation for the reduced resale value as a result of the Dieselgate scandal or the reduction in performance or profitability as a result of the recall changes, you can certainly do so if you can prove it. Voluntary termination allows you to prematurely terminate a car financing contract Simply send your signed and dated letter in your name. You can also send an email, but publishing by registered mail is much better and safer. The finance company may choose to send you a voluntary termination package filled with termination documents that you can sign. Don`t fill it out! You can insist that it is necessary, but it is not and it is often a trap that leads you to sign all the legal rights you have. Hi Stuart, I am currently in a personal lease with Audi and they terminate the contract because the car was confiscated and assembled by the police.

But I borrowed the car from a friend who was guaranteed to drive it, but the car was taken away from me for another reason. I want to keep the car, at least get audi to allow me to keep the car without notice. You can only make a voluntary termination if the car is returned in good condition without excessive damage. Hi Margaret. I am sorry to hear that you have so many problems. Unfortunately, the financial company will not care one iota, which means that it will absolutely not allow you to pay for the car to VT without paying 50% of the total amount to be paid (even then they do not like it, but have no choice but to allow it). Chances are you`re also in a tough position if you want to partially replace the car, as you may have a bit of negative fairness. I suspect you bought a used car, otherwise these kinds of problems would be covered by the car`s warranty.

Without it, unfortunately, you`re stuck with that right now or paying a lot to get rid of it. Hi Chris. It depends on whether 1) the battery problems were present when the dealer initially evaluated the vehicle, and 2) whether they notice it when they reviewed it tomorrow. Realistically, there`s a good chance they won`t look too closely, you`ll hand them the car and go away in your new car, and they`ll have to sort it out. If they send the car to auction, they probably won`t care. If they keep it and sell it themselves, they can get grumpy, but there`s not much they can do once they sign it. For more information, especially if you are considering legal advice, see www.legalbeagles.info. There are people in this forum who regularly discuss VT topics. Just send them your letter (email is acceptable, but delivery by registered mail is preferable) and stick to your guns. Don`t fill out the “volunteer termination kits” they send you, even if they insist you do.

You don`t – it`s a trap for getting you to sign your legal rights. Once you have formally informed the financial company that you are terminating the agreement, it will be deemed terminated and you will not need to complete any further paperwork. Just because they wrote a demanding letter/invoice doesn`t mean you`re obligated to pay for it. Stand firm and make it clear that you understand the law and your contractual position, and that they are likely to give way – at least in terms of mileage and jetwash (!). The damage caused by the landslide will be a matter of interpretation, but £328 is not unreasonable if the car is to be painted. Again, it depends on what you and you each think is “reasonable,” and that`s a grey area of the law. So my question is: Why does someone pay excessive mileage at the end of their term? If you are able to do VT once you have paid half, then this option is surely available in the last month of the contract? Everyone is aware that as soon as a car leaves the forecourt, it immediately loses value. Over time, it continues to do so. In the first year of ownership of the car, it will lose the most value. In fact, about 40% of the total value of the car is lost during this period. For the next two years, an average of 20% of the value of the vehicle is lost. Realistically, by the end of the three years (which is usually the duration of an HP or PCP), the car will have lost almost 60% of the value it had when you first got it.

This information on the premature termination of hire-purchase also applies to conditional purchase agreements. As you say, damage and wear and tear problems are very appropriate and misguided. They will probably be fine in terms of landslides, but it depends on the hustle and bustle they want to do. There is no formal legal advice in one way or another. As long as you present your case that you have done everything possible to follow their requirements and stick to your weapons, everything should be fine. Hello Zul. As we have already mentioned, excess mileage is a hotly debated topic for voluntary termination. Most legal experts agree that if you voluntarily resign, you can`t be charged for excess mileage, but you can bet the financial company will always follow you for that £2,500. .