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UK cab trade debate and advice
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PostPosted: Tue Mar 17, 2009 7:38 am 
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I returned my Suzuki van after paying, I think, 2 payments more than the 50% required. When the van was sold I received a cheque for £770 being the surplus after the finance was settled.

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PostPosted: Tue Mar 17, 2009 1:15 pm 
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grandad wrote:
I returned my Suzuki van after paying, I think, 2 payments more than the 50% required. When the van was sold I received a cheque for £770 being the surplus after the finance was settled.


Well well well, the benefit of this site shining through - you learn something all the time. But! what if they (the company) decide to do them up and resell at a large profit?

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PostPosted: Tue Mar 17, 2009 2:33 pm 
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cabby john wrote:
grandad wrote:
I returned my Suzuki van after paying, I think, 2 payments more than the 50% required. When the van was sold I received a cheque for £770 being the surplus after the finance was settled.


Well well well, the benefit of this site shining through - you learn something all the time. But! what if they (the company) decide to do them up and resell at a large profit?


They don't. They are a financil institution not a garage. The just put them straight through the auctions.

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Grandad,
To support my charity text MAYORWALK to 70085 to donate £5


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PostPosted: Tue Mar 17, 2009 2:55 pm 
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Joined: Fri Apr 21, 2006 1:20 am
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Location: Over here!
grandad wrote:
cabby john wrote:
grandad wrote:
I returned my Suzuki van after paying, I think, 2 payments more than the 50% required. When the van was sold I received a cheque for £770 being the surplus after the finance was settled.


Well well well, the benefit of this site shining through - you learn something all the time. But! what if they (the company) decide to do them up and resell at a large profit?


They don't. They are a financil institution not a garage. The just put them straight through the auctions.


Tbh I was thinking Of LTi and Cabs Direct who have financial arms linked to the Company! whilst they operate independently they do belong to the same people - and I could not see them passing up an opportunity to make some more dosh, however I am prepared to bow to superior knowledge if that is the case.

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PostPosted: Tue Mar 17, 2009 5:28 pm 
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grandad wrote:
After the sale of the vehicle if there is a surplus, they have to give it to you.


it was a citroen.....

surplus?

bout as much chance as a RBS bank boss returning his pension...

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PostPosted: Tue Mar 17, 2009 8:16 pm 
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Joined: Sun Oct 16, 2005 12:07 am
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Location: Hampshire (HC)
I've seen HP agreements that specifically exclude use for hire and reward.

Has anyone any experience of 'overcoming' this clause?


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PostPosted: Mon Mar 23, 2009 5:40 pm 
If you look at it objectively, this method fuels the credit crunch most of the time, I know a lad whose just done it, owing 6k on a 220k mile car that's 4 yrs old now, 2k at the auction if they're lucky.


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