V12VF | Consumer Duty | April 23 - Flipbook - Page 28
10.7 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 point of collection, in line with BVRLA Fair Wear & Tear Guidelines. Damage costs
(HP and PCP) and Excess mileage (PCP) may be charged.
The customers credit file will show that they have Voluntary Terminated their agreement.
For further information on the key information and
guidance from the FCA regarding Consumer Duty, please
follow the link below:
More Guidance
V12 Vehicle Finance is a trading name of Secure Trust Bank PLC. Registered in England and Wales 541132. Authorised by the Prudential
Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our registration number is
204550. Used Vehicle Stocking provided by V12 Vehicle Finance is not regulated by the Financial Conduct Authority or the Prudential
Regulation Authority.
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