This is an example of a PCP agreement - you will receive a bespoke agreement relating to your circumstances should you chose to go ahead:
DRAFT Hire Purchase Agreement Regulated by the Consumer Credit Act 1974
OWNER DETAILS ("ALD", "We", "Us")
ALD Automotive Limited, Oakwood Park, Lodge Causeway, Fishponds, Bristol, BS16 3JA
CUSTOMER DETAILS ("You", the "Customer") Title: - Forename: website Surname: PCE
Trading/Business Name: N/A
Address: - Tel. No: -
CREDIT INTERMEDIARY DETAILS
Company: Affinity Leasing Limited
Address: Cross bank House, Cross Bank, Bewdley, Postcode DY12 2XB
Telephone Number: -
DESCRIPTION OF GOODS FINANCED UNDER THIS HIRE PURCHASE AGREEMENT & OTHER FINANCIAL INFORMATION
Vehicle Details Date First
Registered Year Chassis Number Registration
Number New/Used
Alfa Romeo 159 5DR Sptwgn 2.0 JTDM 136 16V Turismo Not currently available 11A Not currently available Not currently available New
Vehicle Colour: Not currently available Trim: Not currently available
Options/Accessories:
No options or accessories fitted.
1. Total Vehicle Cash Price (Inc VAT) £23791.08
2. Less Advance Payment £664.80
3. Amount of Credit (1-2) £23126.28
4. Total Charge for Credit (5+6+7) £6574.22
5. Vehicle Interest: £6364.22
6. Admin Fee: £145.00
7. Option To Purchase Fee: £65.00
8. Total Amount Payable (3+2+4) £30365.30
This sum is the total amount payable by you under this Agreement, assuming that you do not default. It is made up of the repayments detailed below, plus the advance payment.
APR 15.4%
Duration of the Hire Purchase Agreement (Months): 36
We will provide you with the amount of credit shown (3),in a single payment. We will do this by paying in full, on your behalf, the invoice which we receive from the dealership where you selected the vehicle subject to this agreement.
Interest at a fixed equivalent rate of 14.0% is pre-calculated and charged on the Amount of Credit from the agreement date until you have paid in full the Total Amount Payable plus any other amounts due under the agreement, which would normally be by the date on which you pay the final balloon payment. The rate of interest on the Total Amount Payable is applied on the agreement date and is fixed at an equivalent rate of 14.4% per annum.
Your Repayments consist of: Amount of Payments
Number of Payments Frequency When Payable Total Payment
First Regular Payment 1 N/A The first regular Payment to be taken on the date below in the month after the agreement date;
14th[ ] / 21st[ ] / 28th[ ] (if none ticked the default date will be the 21st)(including £145.00 admin fee) £809.80
Followed by 34 Monthly Starting 1 month(s) after the date of the First Regular Payment and continuing on the same date every 1 month(s) after that. £664.80
And a Final Balloon Payment 1 Final Payable with the Final Monthly Instalment (including an option to purchase fee). £6287.50
HP20:DS/HP/REG/ROW/PCPCM(V1) Page 1 of 4 Customer Copy (C1) Ref : CCD 1748022/B1
Allocation of payments
If you pay less than the full amount of each instalment, we will use the money to pay off first, any fees and charges applied to your account; second the interest owing under this agreement; and third to pay off the amount of credit outstanding under this agreement starting with the arrears.
Statement of account
If you ask us, we will send you at any time, free of charge, a statement of account relating to this agreement, (under section 77B Consumer Credit Act). The statement will be in the form of a table and will show you the details of your instalments owing under this agreement; the dates on which your instalments are due; the amounts of your instalments and any conditions applicable to the payment of that instalment; and a breakdown showing the amount of capital, interest and, if applicable, any other charges which make up each instalment.
Charges
Excess Mileage Charges
If you exceed your contract mileage of 60000 miles over the term of the Agreement, then you must pay 6.75 pence per mile plus VAT up to 9999 miles and thereafter 9.79 pence per mile plus VAT multiplied by the difference between the contractual mileage and the actual mileage. Please see clause 2.4 of the attached terms & conditions.
Other Charges
We may charge you for costs incurred during any repossession of the Vehicle and costs which we incur as a result of your default. Please see the costs indemnity at clause 4 of the attached terms and conditions for details of your potential financial responsibilities.
If you ask us to collect your Vehicle at the end of the contract term, we may charge you a collection fee which is £250 plus VAT at the date of this agreement, but the amount of the fee may vary. We will tell you the amount of the collection fee at any time upon request. Collection is only available from mainland UK locations. Please see clause 10.1 of the attached terms and conditions for details.
If you keep the vehicle after the end of the term of this agreement and you do not pay the balloon payment, we may charge you a daily rate for keeping the vehicle until it is returned to us. Please see clause 10.6 of the attached terms and conditions for details.
We can change any of our charges under the agreement by giving you at least 30 days prior written notice, see clause 11 of the attached terms and conditions for details.
Interest and charges on late payment
Interest at the interest rate stated above is payable on any amount due and payable under this agreement not paid by its due date.
If you are late in making any payment due under this agreement, each time that you are late we will charge you £12 to cover our costs.
If you make any late payment by credit card, we reserve the right to add a 3% credit charge to the amount charged to your card to cover our costs and fees charged by the credit card company.
Missing Payments
Missing payments could have severe consequences and make obtaining credit more difficult. If you miss payments under this agreement, we will send you a default notice under section 87 Consumer Credit Act. If you do not pay by the date shown in the default notice, we can terminate this agreement and demand that you pay the total amount payable in full immediately plus any other amounts which may be due under this agreement. If you default, we can take legal proceedings against you and we may report your default to a credit reference agency (see also "Use of Your Personal Information" below ).
Security
If we ask you, you will make sure that we are provided with a guarantee, acceptable to us, of your obligations under this agreement before we make available the amount of credit.
Insurance
You must keep the vehicle comprehensively insured against all risks for its full replacement value. Please see clause 6 of the attached terms and conditions.
Right of withdrawal
Once you have made this agreement, you have a right under section 66A Consumer Credit Act to withdraw from it. You do not have to give us a reason for wanting to withdraw from the agreement.
If you want to withdraw you must do so within 14 days beginning on the day after the day on which you receive your copy of the executed agreement. You must tell us if you want to withdraw by writing to us at Dealer Services Team,ALD Automotive Limited, Oakwood Park, Lodge Causeway, Fishponds, Bristol BS16 3JA or by telephoning us on 0117 908 6535 or email us at uk-dsproposals@aldautomotive.com.
If you withdraw, you must repay the amount of credit to us without delay and at the latest, no later than 30 calendar days after the date on which you told us you wanted to withdraw. You will also have to pay us, within 30 calendar days of withdrawing, the interest on the amount of credit which accrued from the date of this agreement until the date on which you repay the credit. The interest accrues at the rate of £8.24 per day. To make repayment you must pay us by BACs, Debit card or Credit card (please note we reserve the right to add a 3% credit charge to any payments made by credit card).
Early repayment
You have a right under section 94 Consumer Credit Act to repay this agreement early. You can make early repayment in full, or if you prefer, you can make partial early repayments. If you want to make an early repayment, then you can do this by writing to us at the contact details above. To make an early repayment you must pay us by BACs, Debit card or Credit card (please note we reserve the right to add a 3% credit charge to any payments made by credit card). If the amount of your early repayment exceeds a certain amount, ALD may be entitled to compensation under section 95A Consumer Credit Act. Any compensation must be fair and justified. We can tell you about our right to compensation and how we calculate it, if it applies.
Your right to terminate this Agreement
You have a right under section 99 Consumer Credit Act to end this agreement. To do so, you should write to ALD at the contact details above. ALD will then be entitled to the return of the vehicle and to half the total amount payable under this agreement, that is £15182.65. If you have already paid at least this amount plus any overdue instalments and have taken reasonable care of the vehicle, you will not have to pay any more.
HP20:DS/HP/REG/ROW/PCPCM(V1) Page 2 of 4 Customer Copy (C1) Ref : CCD 1748022/B1
Complaints
If you have a complaint about this agreement, you can write to The Process & Compliance Manager at ALD Automotive Limited, 900 Pavilion Drive, Northampton Business Park, Northampton, NN4 7HA. Should you wish to register your complaint verbally, please contact your Sales consultant or Account Manager. If you wish to contact us by e-mail, please title your e-mail "Quality Department" and send to qualityuk@aldautomotive.com. A copy of our complaints procedure is available upon request.
Financial Services Ombudsman
If you are unhappy with our response and you deal as a consumer, you can complain to the Financial Ombudsman Service at: Financial Ombudsman Service, South Quay Plaza, 183, Marsh Wall, London, E14 9SR. The Ombudsman can also be contacted by telephone at 0845 080 1800. If you are a business customer, then you may be able to complain to the Ombudsman. The Ombudsman will be able to tell you whether or not he can look at your complaint.
REPOSSESSION: YOUR RIGHTS
If you do not keep your side of this Agreement but you have paid at least one third of the total amount payable under this Agreement, that is £10121.77, ALD may not take back the goods against your wishes unless ALD gets a court order. (In Scotland, ALD may need to get a court order at any time). If ALD does take the goods without your consent or a court order, you have the right to get back any money that you have paid under this Agreement. TERMINATION: YOUR RIGHTS
You have a right to end this Agreement. To do so, you should write to the person you make your payments to. They will then be entitled to the return of the goods and to half the total amount payable under this agreement, that is £15182.65. If you have already paid at least this amount plus any overdue instalments and have taken reasonable care of the goods, you will not have to pay any more.
HP20:DS/HP/REG/ROW/PCPCM(V1) Page 3 of 4 Customer Copy (C1) Ref : CCD 1748022/B1
IMPORTANT: USE OF YOUR PERSONAL INFORMATION
By signing this Agreement you acknowledge that you have carefully read the terms below relating to disclosure of personal data and that you expressly and specifically accept them without any reservations or limitations whatsoever.
So that we may assess your application for finance, you agree that we may use a credit scoring system and search the files of any licensed credit reference agency who will keep a record of that search and details about your application. Failure to supply information may result in a refusal of credit. Where this Agreement is entered into by a partnership, you, as signatory, hereby confirm that you are entitled to disclose information about each partner and to authorise us to search and/or record information at credit reference agencies about each partner and you understand that an "association" will be created at the credit reference agencies which may link your financial records.
If we enter into this Agreement with you, you expressly authorise us to disclose information about you and the conduct of your account at any time to any licensed credit reference agency. This information may be used by other lenders in assessing applications for finance from you and, occasionally, for fraud prevention and tracing of debtors. You expressly authorise us to disclose information about you and your conduct of this Agreement at any time to any insurance company, vehicle recovery tracing agent, lawyer, auditor, law enforcement agency, business introducer, guarantor, mailing agency and our parent, associated and subsidiary companies and their respective agents and contractors.
We may transfer the information referred to in this disclosure statement to countries inside or outside the European Economic Area (EEA). You should be aware that other countries may not provide the same level of protection as is available in the EEA. However, where transferring personal data outside the EEA, ALD will endeavour to ensure that adequate levels of protection are in place in relation to the processing of the data.
Please telephone us on 0117 908 2000 if you want to have details of those credit reference and fraud prevention agencies from whom we obtain and to whom we pass information about you. You have a legal right to these details. You have a right to receive a copy of the information we hold about you. If you apply to us in writing a fee will be payable. You also have the right to require the rectification of the information relating to you if it is incorrect, incomplete, ambiguous or out of date.
ALD Automotive Limited may disclose your personal data to its affiliated selected partners so that they can provide you with information about their products and services.
1. Please tick here if you do not want ALD Automotive Limited to contact you by post or telephone with information about its products and services.
2. Please tick here if you do not want ALD Automotive Limited to contact you by e-mail or SMS with information about its products and services.
3. Please tick here if you are happy for ALD Automotive Limited to use or disclose your contact details (including e-mail) to its affiliates or selected partners and their affiliates and service providers so that they or ALD Automotive Limited can provide you with information about their products or services.
ALD Automotive will not use your data or disclose your data to any affiliates or selected partners for the purposes of Fax marketing. Please note that if none of the above boxes are ticked, then ALD Automotive Ltd may contact you for the purposes set out in 1 and 2 above.
