The funding Corp....

[DAFTJOHN]

Okay, I had them finace a BMW 318 for me 2 years ago, I'm now at the point where I want to VT the agreement, i.e. hand the car back and get it out of my hair.

I started this process and hit the first hurdle, they wanted the car to have more than a months MOT on it....so of I go and have it MOT'd, so they now have a car worth a but more due to the 12 months tax.

The second hurdle soon looms....they want a full service history! I bought the car at 5 years old with no history, so therefore obviously cannot provide this - however they say it's in my terms. The terms say the car must be fully serviced, to me that means from when I owned it - not prior and if they want to enforce a full history surely they should carry out some due diligence and ensure there was a history prior to prioviding the finance.

I'm left with them wanting to auction the car and leaving me with the balance of the agreement - I reakon it'll go for 3k tops at auction. 02 Plate 318 Coupe with 114k and owe 5k

So looking for some input - do I just call them and advise they now have all my docs, V5, mot etc and that I've cancelled the DD and have washed my hands of the car, or try to bargin with them and persuade and make them see reason? I've too much on this month, best man for two weddings - Holiday, big things on in work and cannot be doing with this gubbins...:roll:

[let_nova]

drive it to them, nice and clean etc. leave them the keys, job done lol

[Mike]

Drive it down some lanes, remove alloys, torch it, report it stolen & let the insurance deal with it whilst you eBay said rims.

[DAFTJOHN]

They wont tell me where the auction they use is....doing my fookin head in, feel like going out and burying it in the garden lol

[Mike]

They want tell me where the auction they use is....doing my fookin head in, feel like going out and burying it in the garden lol

Burn it :) or break it for parts an use the money you make from it repay the outstanding balance :)

[let_nova]

bmw+my work+boat= no car lol

[DAFTJOHN]

Drive it down some lanes, remove alloys, torch it, report it stolen & let the insurance deal with it whilst you eBay said rims.

Not even sure what I'd get for it in parts - the replacement engine has only done 45k but due to the stupid plastic rocker covers it leaks oil on first start up of the day.

[muzzy]

I've been there done that, I told them to send the car to auction and that I would not be paying the remainder of the balance due to stupid rules they were making up as they were going along.

[DAFTJOHN]

bmw+my work+boat= no car lol


Only prob is it ain't insured, the Impreza and Nova is though!

[let_nova]

email this guy....
http://www.moneysavingexpert.com/

[DAFTJOHN]

I've been there done that, I told them to send the car to auction and that I would not be paying the remainder of the balance due to stupid rules they were making up as they were going along.

So Muzzy, did you take it to auction?

[muzzy]

No they came and collected the car from me.

[DAFTJOHN]

email this guy....
http://www.moneysavingexpert.com/

Cheers, have stuck a post up.

[mowgli]

close your bank account, and open up a new one somewhere else. then drop it off to them with all the relevant papers (make copies) and leave.

[Sloth]

send em a letter telling them they have 14 days to collect it and cancel the contract, otherwise your keeping the car and will consider the matter closed. just done this with a mac toolbox, i told em in may09 that they could take it back as i dont want it, and they never got back to me. i asked citizens advice whp told me to do this. i posted the letter in jan and still havent heard off em. win. :D

[DAFTJOHN]

Argggggh.....useless

I called them and asked how can I provide history for a vehicle that didn't have any when I bought it.

They told me that's my problem, so want me to drop the car off and they'll hold me liable for the defecit:mad:

Have ordered a service book from BMW.

[mowgli]

you've basically been screwed by not reading the small print

[let_nova]

do you want the service book sorted..?

[dj_wudgey]

fook me ill not be getting a car on finance then lol

[Sloth]

biggest mistake i ever made was getting a car on finance./ luckily i was missold the finance and got out fast....

[Stuart]

write on the service book in crayons lol

[Jon_nova1]

wow, i read a post on moneysavingexpert about 15 mins before i read this, unenforceable was it? lol

Hire purchase companies hate people that hand keys back after half the finance is taken, if you have no reason to worry about your credit score just don't pay and let them take it, or torch it

[Jack]

Argggggh.....useless

I called them and asked how can I provide history for a vehicle that didn't have any when I bought it.

They told me that's my problem, so want me to drop the car off and they'll hold me liable for the defecit:mad:

Have ordered a service book from BMW.
Thats rediculous, assuming they are demanding full service history for prior to your usage of the vehicle? I'd get in touch with the financial ombudsman saying they're making unreasonable demands.

How can you possibly come up with FSH if they didn't supply it in the first place?! If they said that to me, I'd laugh down the phone at them lol

[Jon_nova1]

just the threat of the financial ombudsman should be enough, a friend used to work in car insurance and said anyone mentioned them, you'd instantly do what you had to because the company had to pay a large fee just for the ombudsman knocking on the door lol

[DAFTJOHN]

wow, i read a post on moneysavingexpert about 15 mins before i read this, unenforceable was it? lol

Hire purchase companies hate people that hand keys back after half the finance is taken, if you have no reason to worry about your credit score just don't pay and let them take it, or torch it

I guess to an extent it is unenforceable. I asked them how they get the dosh from me, they just pass out to an external agency and eventually they'll stop chasing me if I ignore them. Only issue is 5 years on credit record as a default and can't have that on my record as looking for a house now.

[DAFTJOHN]

Thats rediculous, assuming they are demanding full service history for prior to your usage of the vehicle? I'd get in touch with the financial ombudsman saying they're making unreasonable demands.

How can you possibly come up with FSH if they didn't supply it in the first place?! If they said that to me, I'd laugh down the phone at them lol

It is rediculous but not sure where to go with it.

I've told them it's impossible to provide as it's not there, they said they need an independant party, i.e. dealer to confirm - he's useless. I made my point asking do they think I'm hiding the fooking thing from them and that the end goal is the same, no history but the result for me is massive - I don't owe them 2k.

I said I was going to the ombudsman and they were happy for me to do this, another payment is due next week so don't want it running on...

Cheers

[DAFTJOHN]

do you want the service book sorted..?


I'll txt you Gov.

[mowgli]

is it a hire purchase agreement or a loan against it???

if its hire purchase, then you can send it back & walk away

if it is finance then you are going to have some real fun. if it is secured against the car, then it is even more of a minefield.

did you buy the car from one of these 'get car credit' type of garages? cos they inflate the car price, stretch the finance & basically stitch you up for ever.

you should get legal advice quick

[brownbear]

http://forums.moneysavingexpert.com/showthread.html?t=994123

[DAFTJOHN]

is it a hire purchase agreement or a loan against it???

if its hire purchase, then you can send it back & walk away

if it is finance then you are going to have some real fun. if it is secured against the car, then it is even more of a minefield.

did you buy the car from one of these 'get car credit' type of garages? cos they inflate the car price, stretch the finance & basically stitch you up for ever.

you should get legal advice quick

It's HP but the only sticky point is the history, I'll get history and post it over to them:d

Cheers

[Stuart]

so if its HP and it was in their terms that is had FSH, why the funk didnt it have FSH when you purchased it?!?!?!?!

[DAFTJOHN]

so if its HP and it was in their terms that is had FSH, why the funk didnt it have FSH when you purchased it?!?!?!?!

They seem to see it as their Job to supply the dosh and not to carry out due diligence that their was FSH. My reading of the terms is it "has to be fully serviced prior to return" to me that's when I own if.

I'll be shot of it and move onto better things.

[muzzy]

Surely they can't add that a car must have FSH to they're terms and conditions and not make sure that all cars they provide finance for meet they're requirements?

[Stuart]

if its worded EXACTLY as "serviced prior to return" to me that reads as an oil change before you send it back and no previous history is needed

[bazil]

my mate got a 206 cc brand new:gay:
when he returned the car to the finance company they were going to charge him for the mileage on the car, apparently in his contract the car could only do 12000 per year after that they wanted something like 12p per milelol

digital mileage correction FTW

finance is only a good option if you plan to keep the car, my finance was over 4 years and ive now had the car for 6 years with no hassle............appart from the PP crap.

[Mike]

Was the car originally sold to you as "FSH" If it was, then you have a potential legal get out a jail free :)

However, it could backfire legally as its buyer beware/relevant pre purchase checks etc etc

[Jack]

Was the car originally sold to you as "FSH" If it was, then you have a potential legal get out a jail free :)

However, it could backfire legally as its buyer beware/relevant pre purchase checks etc etc
Still, you cuold argue that you signed up for a car that had FSH, which they failed to provide. As you've been paying them for xyz number of years for a car that was supposed to have FSH, which they haven't yet supplied, they still owe you xyz number of years worth of car :d

[DAFTJOHN]

Still, you cuold argue that you signed up for a car that had FSH, which they failed to provide. As you've been paying them for xyz number of years for a car that was supposed to have FSH, which they haven't yet supplied, they still owe you xyz number of years worth of car :d


I'm going to supply a part history that I may have got from the previous owner;) , this should satisfy them.

If it fails I'm back to the dealer as they were very twitchy when I spoke to them - worried that they'd be due to pay the extra cash.....like they almost knew this would happen!