Conditional sale help

[masur123]

Hello all,

I have a query that I am hoping one of you wonderful people may be able to help me with

I have just sent my letter to Santander to terminate my Conditional sale on my car as I have paid the legally required 50% to do so.

I have had the letter back saying the agreement is now terminated and I owe ?0, however the company is not coming to collect the car until next friday.

Am I:

1) Allowed to drive the car until they collect, if not
2) Can I cancel the insurance and insure a new car, as I cant have no claims bonus on 2 cars?

Not really sure, because if something happens to it whilst uninsured who is liable (I am assuming me), so if it needs to be insured surely I can still drive?

[super jumbe]

I am shore 1 telephone call to santander customer service will solve your problem, but do not forget to tape every word on the conversation.

[masur123]

I am shore 1 telephone call to santander customer service will solve your problem, but do not forget to tape every word on the conversation.

Haha, this is the same company who tried to charge me ?50 to collect my car from my house, or I could drive a 100 miles to drop it in Mansfield.

Several phone calls to the Trading Standards later they are now collecting for nothing, after trading standards expressed this was unreasonable and against the law to try and charge me for something not made clear when I signed the agreement. Legally I can return it to a location which is within reasonable distance of the place of purchase

Wouldnt believe a word they say, was hoping someone had been through this type of end agreement and knew the legality of it

[tshirtman]

Have you spoke to your insurance company, or there legal assistance department, they could possibly help.

[SouthernComfort]

All relevant information should be in the sales agreement/contract of sale. My understanding would be the goods are yours until repossessed as technically you are not volunteering them.

Conditional sale agreements: a guide for consumers

[masur123]

All relevant information should be in the sales agreement/contract of sale. My understanding would be the goods are yours until repossessed as technically you are not volunteering them.

Conditional sale agreements: a guide for consumers

Thanks for this, but it covers off most of what I know. I guess I will have to ring someone like consumer direct, or as a last resort the creditor

[oneman]

All relevant information should be in the sales agreement/contract of sale. My understanding would be the goods are yours until repossessed as technically you are not volunteering them.

Conditional sale agreements: a guide for consumers

I am pretty certain the car does not belong to OP as much as a house belongs to you until mortgage is paid.

Niot seen your contract but I would think you are allowed to drive the car until its collected. If you are planning on driving it then you will need to keep the insurance on it.

Also I think even if you are not planning on driving it you will need to keep it insured until its collected as it probably says in your loan agreement that the car will be insured until loan is paid off or car is returned.

You best bet is to call the bank and clarify this.

[gregk]

I'm pretty positive that untill they sign collection papers and pick up the car you are responsible for it. As to driving it if I was you I would not drive it just incase something happens and you get lumbered with insurance claim.
I would speak to your insurance and ask them to keep insurance on old car for a week and still insure your new vehicle. I have done this few times before whilst having bought new car I still had an old one, and they kept it insured for a week for ?6.00 or ?12.00 charge definetly worth considering..

[SouthernComfort]

I am pretty certain the car does not belong to OP as much as a house belongs to you until mortgage is paid.

Niot seen your contract but I would think you are allowed to drive the car until its collected. If you are planning on driving it then you will need to keep the insurance on it.

Also I think even if you are not planning on driving it you will need to keep it insured until its collected as it probably says in your loan agreement that the car will be insured until loan is paid off or car is returned.

You best bet is to call the bank and clarify this.

Considered but you can live in the house until repossession, possession vs ownership, OP can use vehicle otherwise he would have no obligation to store or maintain it. Could be mistaken but thats how I see it, as mentioned bank should clarify.