V12 Procedure Guide - Flipbook - Page 41
Product + Procedure Guide
Where a vehicle is a VAT-qualifying vehicle, the
dealer will issue a full VAT invoice to V12VF in
relation to the sale of that vehicle to V12VF.
No deductions are permitted if the customer
withdraws within the 昀椀rst 30 days from the
sale of the vehicle.
See the section regarding invoices for
con昀椀rmation of what is to be included
on the invoice.
You must inform us on the same day of such
cancellations or returns to ensure V12VF do
not request a payment from the customer.
V12VF will require the prompt return of loan
advance funds paid.
Send all required documents to:
newbusinessprocessing@v12vf.co.uk
Cancellations and Withdrawals
You are required to inform us if the customer
wishes to exercise their right to reject the
vehicle for any of the following reasons:
• Vehicle is not in full working order.
• Vehicle is not roadworthy.
• Vehicle is not 昀椀t for purpose.
Customer Withdrawal from Credit
If the customer wishes to exercise their right to
withdraw from the HPA, you must not accept
the customer’s noti昀椀cation of their intention
to withdraw.
You must advise the customer to notify V12VF
of their intention to withdraw, as set out in the
HPA and the Important Information Document.
• Vehicle is not of satisfactory quality.
Where a customer exercises their right to
reject the vehicle under the Consumer Rights
Act 2015, they have the right to a refund of all
their payments already made, minus a sum to
cover depreciation and/or wear and tear.
Where this deduction is appropriate, we will
use a calculation of 25p per mile for each mile
over the original mileage recorded when the
vehicle was sold to the customer; you will not
assume or apply an amount exceeding this.
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