VT Moneybarn No refurbishment but no final balance till auction!!!

[Jen1385]

Hi everyone,

Hope someone can help.

I recently VT my car with Moneybarn, i had actually paid over the 50% mark at around nearly £2000.

I came home today to a letter stating that the car had undergone full inspection and that they were pleased to say that there were no refurbishments required and it has been released ready to auction.

The part I am confused about is that they stated that my final bill will be calculated after the sale of the car.

It is my understanding that as long as I have paid the 50% and i stated in a email i wanted to VT the car that is all I am liable for and as they have stated no refurbishments were needed that should be my end finished with.

Would be very grateful if anyone could confirm this, as i have read all the forums about problems with charges and fees after vt and I had a letter ready to fire back but now I'm not sure what to say.

Many thanks

[R0b]

Hello

What you have received is not surprising from Moneybarn but you are right, if they have confirmed there are no refurbishment charges then that will be deemed acceptance that the car has been returned in a reasonable condition so that is the end of your obligations under the contract.

I suspect what Moneybarn will say is that if the car doesn't meet the expected sale value at auction, they will try to recover that from you directly with an invoice and argue that the car was not in a reasonable condition. So that notification from Moneybarn confirming there are no charges is really important for you to keep a copy (or even multiple copies in digital and physical format) because that is your evidence. The fact that the car did not sell for its auction price could be on a number of factors such as turnout, time of the year, interest in the car itself etc.