Consumer Credit Act 1995
Notice to be Included in Hire-Purchase Agreement
Right of hirer to terminate agreement
1. The hirer may put an end to this agreement by giving notice of termination in writing to any person who is entitled to collect or receive the hire-rent.
2. The hirer must then either—
(a) (i) pay any instalments which are in arrear at the time when he gives notice, and
(ii) if, when the hirer has paid those instalments, the total amount F227[which he has paid] under the agreement is less than (here insert the minimum amount the hirer is required to pay under section 63 (2) (a)) the hirer must also pay enough to make up that sum, or
F228[(b) purchase the goods by paying the difference between the amount already paid under this agreement and either the hire-purchase price reduced in arrordance with section 52 or 53 of the Consumer Credit Act, 1995, or such lesser amount if specified in this agreement.]
3. Where a hirer has not purchased the goods and the goods have been damaged owing to the hirer having failed to take reasonable care of them, the owner may sue the hirer for the amount of the damage unless that amount can be agreed between the hirer and the owner.
4. The hirer should see whether this agreement contains provisions allowing the hirer to put an end to this agreement on terms more favourable to him than those just mentioned. If it does he may put an end to the agreement on those terms.
Restriction of owner's right to recover goods
1. Without the hirer's consent the owner has no authority to enter the hirer's premises for the purpose of taking back the goods (other than a motor vehicle in the circumstances mentioned in paragraph 2 below).
2. The owner of a motor vehicle is entitled to enforce any right which he may have under this agreement to enter any land of the hirer other than his home or any buildings attached thereto.
3. After (here insert the amount calculated in accordance with section 64) has been paid, then, unless the hirer has put an end to the agreement without exercising the option to purchase the goods, the owner of the goods cannot take them back from the hirer without the hirer's consent unless the owner has obtained a court order or is taking a motor vehicle back in accordance with paragraph 4 below.
4. Where the owner has made an application to the court for an order to recover possession of the motor vehicle, he may, if the vehicle has been abandoned or has been left unattended in circumstances likely to result in damage to, or more than normal depreciation in the value of the vehicle, and if the agreement so provides, take back the vehicle and retain possession of it during the ensuing period prior to the making by the court of an order for the purpose of protecting the vehicle from damage or depreciation.
Inserted (8.08.1996) by Consumer Credit Act, 1995 (Section 60) (No. 2) Regulations 1996 (S.I. No. 246 of 1996), reg. 2(a).
Substituted (8.08.1996) by Consumer Credit Act, 1995 (Section 60) (No. 2) Regulations 1996 (S.I. No. 246 of 1996), reg. 2(b).