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Moneybarn VT started today: Let's see how this goes

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Hi all,

I have a car on finance with MB,

the agreement commenced in March 2017 and I took it on a 48 month term, so I am well past the 50% mark.

There are no arrears and I have never missed a payment.

The settlement figure is £2750 but the trade in value is now only around £1850 which is too much of a gap to make up.

 

If I VT correctly according to the guidelines contained in a number of discussions on this site, would this have any sort of influence on my credit file that may prevent me from getting another finance deal at a better rate than MB offer? 

I don't want to shoot myself in the foot by doing this, my credit score is only rated as 'Fair' so I'm already at a disadvantage.

 

The car is in reasonable condition, no bumps, scratches, serviced lat year in October but missed the year before.

The Blue & Me function does not work thus there is no bluetooth or cruise control. 

 

Also, would anyone make a recommendation on any lender I could approach for a new deal?

Or is that a no-no on here?

 

Thanks in advance

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cant see a reason why not.

 

can't see what the trade in has to do with it...yourre past 50%


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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dx100uk - I quoted those figures to show that it would not be worth me trading the car in against a new one.

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I am 32 months into a 48 month agreement with Moneybarn and have just completed the Sec 99 letter copied from another thread on here. It will be sent via recorded mail later this morning.  I will update this thread with progress as and when things happen.

 

Just one quick question though, I have declared the vehicle as SORN.

 

How does this affect things if they want me to take it to their agent?

 

Thanks in advance

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there are options, the fact that you can't deliver the car removes that option..

 

don't let them a charge recovery fee.

 

threads merged too.

 

dx

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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