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

[baggyman]

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

[dx100uk]

cant see a reason why not.

 

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

[baggyman]

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

[baggyman]

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

[dx100uk]

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