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Hi
I having been reading your thread with interest and have found the information very valuable and informative.
I have just completed my VT with Moneybarn. Initially, I did not want to VT but wanted to upgrade my vehicle, believing that my credit was still poor I asked Moneybarn for a settlement figure as I was wanting to PX. The settlement figure was huge, so I asked them to calculate a refinance package but their terms meant I would be paying £800pcm whereby another finance company quoted almost half that, Moneybarn effectively ruled themselves out of the running so I decided to VT and take finance elsewhere.
When I requested to VT my agreement Moneybarn were very helpful, but I feel this is the calm before the storm. Sequence of events are as follows:
When the request to VT was sent on Aug 3rd I advised Moneybarn that I wanted to clear the outstanding balance there and then, they advised I did not have to and if I preferred I could clear the balance in instalments (£1123.69 to bring me up to the halfway mark).
Now, I just want to get the outstanding £1123.69 paid and be done with them. Is there anything you can recommend that I can write to them to put an end to this?
Can I just pay what's left of the agreement to bring it up to the 50% mark directly to them and notifiy them the funds have been paid and that I have no further dealing with Moneybarn?
The money is sat in my account, I just want it paid and to never hear from them again.
Many thanks
C
I having been reading your thread with interest and have found the information very valuable and informative.
I have just completed my VT with Moneybarn. Initially, I did not want to VT but wanted to upgrade my vehicle, believing that my credit was still poor I asked Moneybarn for a settlement figure as I was wanting to PX. The settlement figure was huge, so I asked them to calculate a refinance package but their terms meant I would be paying £800pcm whereby another finance company quoted almost half that, Moneybarn effectively ruled themselves out of the running so I decided to VT and take finance elsewhere.
When I requested to VT my agreement Moneybarn were very helpful, but I feel this is the calm before the storm. Sequence of events are as follows:
- Requested to VT agreement on 3rd August 2016
- Moneybarn requested I sent the 'signed' request by letter (email) as they need to 'check my signature against their records'
- Confirmation of my request to VT was received via email from Moneybarn on August 8th 2016.
- BCA (British Car Auctions) collected the vehicle on 10th August 2016.
- There was minor damage on the vechicle, a small dent on the drivers side wheel arch (on the swage), where someone had bumped the vehicle and drove away when the car was unattended approx. 2 weeks before the vehicle was VT'd.
- BCA and myself agreed that taking into consideration the age of the vehicle (58 plate) the damage should be classed as normal wear and tear and was 'disputed' and it was marked as such on the collection notice.
- although the copy I was sent makes no mention that the damage was disputed.
- Also bizarrely states there was no V5, MOT, Tax or Fuel when in fact all of these were presented on collection.
- There was approx. 4000 miles excess mileage - which I am aware I am not liable for. (approx. £600).
- The vehicle had undergone a service approx. 5 months prior to it's collection at a BMW dealership, costing over £500
- A new battery had been installed costing approx. £200
- BMW advised me that there were a lot of things not working on the vehicle which had not worked from the day I'd picked up the vehicle approx. 2 years prior. I had not realised things weren't functioning as they should have, therefore did not report these when the vehicle was driven away from the dealership. I believe the dealership knew but clearly allowed me to buy the vehicle regardless.
- The vehicle had 4 new tyres fitted approx. 3months before VT, costing appox £400.
- 2 x Keys present, both working.
- Valid MOT present.
- Service History present
- Original first aid kit and warning sign present
- All original fittings and fixtures present (no modifications)
- Valid insurance and Tax present.
- V5 Registration Document present
When the request to VT was sent on Aug 3rd I advised Moneybarn that I wanted to clear the outstanding balance there and then, they advised I did not have to and if I preferred I could clear the balance in instalments (£1123.69 to bring me up to the halfway mark).
- On 16th August 2016, I received a letter from Moneybarn advising that '...the final balance on your account is now in the process of being calculated...'
- As far as I am concerned the final balance has already been calculated at £1123.69.
- They go on to advise that after 'checks' (as far as I am concerned 'checks' have already been carried out by the BCA representative upon collection), if they are happy with the vehicle and no further work is required 'then' it will be placed into auction.
- And go on again to state that these checks can take 3-4 weeks and up to 3 months.
Now, I just want to get the outstanding £1123.69 paid and be done with them. Is there anything you can recommend that I can write to them to put an end to this?
Can I just pay what's left of the agreement to bring it up to the 50% mark directly to them and notifiy them the funds have been paid and that I have no further dealing with Moneybarn?
The money is sat in my account, I just want it paid and to never hear from them again.
Many thanks
C
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