As a legitimate owner, the financial company has a responsibility to help you solve the problem. If the financial company does not help you solve the problem, you can go through the claims process and, if necessary, pass it on to the Financial Services and Pensions Ombudsman. The half rule is part of the Consumer Credit Act 1995 and gives you the right to terminate an HP contract at any time. The half-rule limits your liability (the amount for which you are responsible) to half the HP price of the car. The agreement of the financial company must show you the number for half the HP price of the car. Voluntary transfer is an agreement in which you return the car to the financial company, but you remain responsible for unpaid debts – your debts do not disappear by car. If you sign a voluntary rebate form, the financial company will sell the car and the money they receive from the sale will go into the amount you owe. The National Credit Act authorizes the termination of a credit contract within 5 business days of signing it (section 121). However, this right of withdrawal applies only in very limited circumstances and there is a specific process to follow. The clause generally only applies if the financing contract has been concluded and signed with you. B at home or at work. The purpose of the repeal clause is to provide for circumstances in which sellers sell goods to consumers and induce them to enter into credit contracts instead of paying in cash. The clause generally does not apply to a vehicle financing contract signed with a dealer or bank.
If you`re not interested in financing another car, then don`t expect a one-way ticket from that dealership. Officially, you are not allowed to return a car without any complaints. It`s all about you doing the right homework, self-assessment, and even a story of checking out a car before you buy it. There must be a legitimate reason why you want to give it back, beyond your general discontent. For pcp Car Finance, things are a little more complicated, because this type of financing works. The most important thing you remember about PCP financing is that you make firm payments on the depreciation value of the car. This means that the remaining balance may be greater than the actual value of the car. Visit our website for more information about PCP Self-Financing. Medical documentation may be needed to help. Please note that we need permission if you prefer to talk to a third party of your finances. Please go to Manage your financial agreement to see more details about what we need. If the car was purchased again, I would be surprised if the VRM was the only detail recorded with the financial company against your car.