Car Finance

[Student2]

I am currently in a dispute with my car finance company - namely Peugeot, over sums of money that they claim i owe on my agreement. Last time this happened was back in Dec now i recieved another letter demanding �560 immediately otherwise my car was going to be repossessed and my contract cancelled. I have been fully compliant throughout my agreement and have 4 months left on the 5 year agreement. Yet again, i penned a rather strongly worded email and letter asking for someone to contact me to resolve this issue and no body has. Customer Account were rude and dismissive of my phonecall to rectify the situation and demanded i pay the money.
I am of the belief that they cannot simply come round my house and repossess the car as it has more than half been paid for.
Anyone with any advice on this?

[Oneeyedvic]

It is actually once you have paid a third that they need a court order to take back your car.

Obviously you would have to be notified of any court proceedings.

This is on the basis that it is a Hire Purchase agreement. If it is a loan agreement, then they can not take back the vehicle regardless of the payments made.

[Bob906]

You are right in saying that they can't come and reposses the car as you have paid more than half they have to have a court order. If you can prove your up to date with your repayments i.e bank statments etc. for all the payments over the 5 years then they are going to look pretty silly if they try to take the car back, get in touch with them and tell them you have the proof and if they don't sort it out YOU will be taking legal advice for harrassment

[Student2]

Thats a really interesting answer and thank you for that (sitting back in my chair smugly). The letter from Peugeot states that "your details have been passed to our debt collection agency to call at your property shortly, this visit could result in the repossesion of your vehicle and you will be liable for the agency's fees to the value of �300."
What do you make of that!?

[Student2]

Yes, back in Dec i sent them all my bank statements, letters, faxes everything to prove i was in the right. Now they are doing it again, I told customer account that i would prove it but the guy sat there and said that regardless of what i do, the money is owed and they are coming to collect the car! Tearing my hair out!!

[Student2]

Excuse me!! Who do you think you are? Who asked for your tuppence worth? This is a serious site with some serious questions being asked. Howz about you shut up and f*�" off!

[tigwig]

don't take tetjams answer seriously Student, he/she does this on a regular basis just to get a response

[Student2]

Ah right - thank you for that! What a stupid person!

[NORMANTHEDOG]

they can come and re-possess your car at any time they want,the myth that if you have paid a half or so many months,is long gone,unless it says so in your agreement otherwise,we have repossessed cars with only 3 months left on a agreement,you must check your paperwork very very carefully. and i would get it checked out by someone with legal background,have you been behind with your payments,because sometimes that causes fees added on by the company.

[Student2]

Really?! I missed one month's payment in March and that was for �194. The letter stated that I owed �482.90 then when I called that figure had jumped up by �78?!? So many people have told me that my car cannot be reposessed and now I am very very worried.
The fact that Peugot flatly refused to listen to me and to try and resolve the issue infuriates me. How can i owe �560
??! They have a history of losing my payments 'in the system'

[Student2]

Actually having read one of the letters from Peugeot, it states in big capital letters, the following -
"But if you have paid at least one third of the total amount payable under the agreement set out below, the Creditor may not take back the goods against your wishes unless he gets a court order. If he does take the goods without your consent or a court order, you have the right to get back all the money you have paid under the agreement set out below"
Now, not being funny but that says to me that any agency without an order, i can tell to ram it!! In fact, take the car and i will have my �16,000 back - cheers easy!!

[Oneeyedvic]

If the agreement is a Hire Purchase agreement, then it is regulated under LAW (consumer credit act 1974), once a third of the total amount of credit (and that includes deposits) has been paid, a court order is required to repossess a car.

If it is not a Hire Purchase, then it is a Loan agreement and this is the same as any other loan agreement - they have no lien on any goods.

The only time that the agreement is not regulated is if the borrower is a limited company or the amount borrowed is over �25,001 (or more recently - after the 2006 Consumer Credit Act - if the consumer is a high net worth individual).

[Student2]

Very many thanks!
I will be sure to highlight this to Peugeot again and i am satified that they cannot reposess my car without an order.
NORMANTHEDOG - you may want to re read the repo rules coz if you are going around doing this then someone is going to burst the bubble!

[furrycheeky]

I agree that my Peugeot finance agreement also states that once a third is paid then a court order must be paid.

However you do mention that you missed a payment, could the now much larger amount be interest added to that missed payment? and probably an admin charge too?
Or did you repay the missed payment?

[alponce]

I am sorry but until your car is paid for then they can take it,.
As a company , in a loan situation they are liable for your loan upto and including the last payment.
you must come to an agreement with them or you must understand the law and fight it .
Ultimately you will pay the payments or fight it i am sorry.
are you strong enough and do you have" ALL "representations on your side.

[Student2]

I missed the payment in march and I rang Peugeot to advise them of this difficulty. They put a note on my account for someone to call me about the problem, i left it at that thinking that someone would call me. A week went by and no body rang, i called back and asked to speak to someone ref the note on my account - there was nothing! I have tried above and beyond with Peugeot and half the time they have 'lost' payments in the system, failed to acknowledge my contacts with them - the list goes on. I called them about these arrears and was promptly told to 'pay up', i asked to speak to somebody in management and was told that this was not possible and my account was being terminated and the car repossessed. I worded an email to customer accounts requesting someone to contact me but still no word - what the hell am i supposed to do!?!?

[Oneeyedvic]

Stop phone calls as they seem to be ineffective. Put everything in writing (including copies of your bank statements) and ask for a statement of your account.

Make sure you keep all copies of correspondence and send by recorded delivery.

[NORMANTHEDOG]

theres no point in trying to slag me off,because of what i have told you,

you have failed to keep your contract with peugeot,by missing a payment,and i expect its more then once,therefore you have breached the conditions of your agreement,and that means they can repossess your car.

why is it people come on here,tell a story,and then add little bits more to it every day.

[Student2]

Normanthedog - having spoken to Peugeot now, the problem has been resolved and no, i have only ever missed one payment in the whole 5 years of the agreement! Thats why i am so irate about it. On many many occasions Peugeot have contacted me and demanded random sums of money to only be told by myself through all the proof in the world that they are infact - WRONG! and the best bit.......they blame the system. Next time Normanthedog - get your facts straight otherwise people will continue to slag you off.

[NORMANTHEDOG]

i need to$$ers like you telling me im wrong,when you post a complete load of $hite and lies.