Notice Of Intent To Sell Repossessed Vehicle Form Template for England and Wales

When you have repossessed a vehicle due to default on a finance agreement, you must serve a Notice Of Intent To Sell Repossessed Vehicle Form before proceeding with any sale. This statutory requirement under English and Welsh law ensures transparency in the repossession process and protects the rights of all parties involved.

When do you need this document?

You need this form immediately after successfully repossessing a vehicle but before advertising or conducting any sale. The notice is mandatory when a debtor has defaulted on their hire purchase agreement, conditional sale agreement, or personal contract purchase. You must serve this notice whether the repossession occurred through voluntary surrender or involuntary seizure. The form is also required when selling vehicles repossessed under business finance agreements that fall within consumer credit regulations. Additionally, you need this document when the registered keeper differs from the debtor, as both parties must receive proper notification.

Key legal considerations

The notice must contain specific statutory information including complete creditor details, debtor's last known address, and comprehensive vehicle description with VIN and registration number. You must clearly state the outstanding debt amount, including any additional charges since repossession, and specify the proposed sale method and timeline. The form should detail the debtor's rights, including their ability to redeem the vehicle by paying the full outstanding amount before sale. You must also explain how any surplus from the sale will be handled and the debtor's continuing liability for any shortfall. Failure to include required information or serve proper notice can invalidate the entire repossession process and expose you to legal challenges.

Legal requirements in England and Wales

Under the Consumer Credit Act 1974, you must serve this notice with sufficient time for the debtor to respond, typically allowing at least 7 days before proceeding with sale. The FCA's CONC 7 regulations require you to treat customers in default fairly and provide clear, comprehensible information throughout the process. You must serve the notice to the debtor's last known address using a prescribed method, such as recorded delivery or personal service. When the registered keeper differs from the debtor, separate notices must be served to both parties. The Consumer Rights Act 2015 mandates that all communications be transparent and fair, requiring plain English explanations of complex legal terms. You must maintain detailed records of service and any responses received, as these may be required as evidence in future proceedings. The notice period must allow reasonable time for redemption, and any sale must achieve the best price reasonably obtainable in the circumstances.