V12 Procedure Guide - Flipbook - Page 26
Product + Procedure Guide
1.8.6 Full Early Settlement –
part exchange at dealer
A customer can ask a dealer at any time for
a part-exchange valuation. At the discretion
of the dealer, they can make the payment to
V12VF on the customer account to cover the
settlement amount in full (or in part if, for
instance, their valuation of the car is less than
the settlement). The customer must request the
Full Early Settlement 昀椀gure in the 昀椀rst instance
and is responsible for the payment of the full
settlement 昀椀gure within the 28 days, making
up the difference between the settlement
昀椀gure and dealer’s part-exchange valuation if
applicable.
There are no charges for a Full Early
Settlement.
1.8.7 Voluntary Termination
A Voluntary Termination is a customer right
under Section 99 of the Consumer Credit Act
to hand back the vehicle at any point in the
agreement with the requirement that they
must pay, or have paid, at least half of the
Total Amount Payable which is set out in their
contract under “Termination: Your Rights.”
If the customer has paid half of the Total
Amount Payable but is in arrears, they are
required to pay these.
V12VF will arrange for the car to be inspected
at the point of collection, in line with BVRLA
Fair Wear & Tear Guidelines. Damage costs (HP
and PCP) and excess mileage (PCP) may
be charged.
The customer’s credit 昀椀le will show that they
have Voluntary Terminated their agreement.
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