We leased a car via Dunctons - now Moneybarn and are nearing the end of the lease agreement. All in all it's been fairly straight forward - we had a hiccup when we needed repairs, but Moneybarn were fair with us.
We have now agreed to purchase the car and are going through the end of lease /purchase process. I'm sure it will be problem free[:p] and will keep the foum updated.
Hi Mel, we saved enough to replace the car at the end of the lease and Moneybarn agreed (after a query) on our expected price. Therefore, it suits us as long as there are no hidden charges.
We know we have paid over the odds for the car, but our circumstances dictated our choice. We were not tempted to buy a new car, as we have done this before and still had car problems. At the moment, we just need reliable cars[:)]
We leased the car when the cpmpany was Dunctons and paid over £1000 in deposit and fees. Now they've changed to moneybarn, they no longer lease cars, but offer finance to buy cars ( I think).
Personally, i wouldn't go down the lease car route again - we were depserate, but it has proved very costly.
We offer Conditional Sale agreements whereby you make an inital payment (normally between 10% and 15% of the sale price of the car), monthly payments (between 12 and 60 months) and at the end of the agreement, provided you've made all monthly payments, the car is yours to keep and you have title to it.
MSG are one of our top finance brokers and really knowledgable about our product and working with customers in IVAs. If you have any questions about anything at all, please dont hesitate to call James at Moneybarn on 0845 50 50 192 or MSG on 0845 838 5919.
Regards
Peter.
I’ve been the Managing Director of moneybarn for the past nine years, during which time we’ve provided car finance for hundreds of people who are in or have been in IVAs. I’m on this forum to help answer any questions you have about car finance in general and moneybarn car finance agreements in particular.
Hi
I too had a car through Duncton, who became Moneybarn, and I have to say the customer service was excellent. You know that you are not going to get High St bank rates but at least you get the help that you initially need. It can be a useful stepping stone to get into main stream lending again and at least with a newish car you don't have the repair costs [usually] that you can get with older cars
The conditional sales agreement - is this linked to current lease agreements?
In our case, we agreed a 4 year lease with Duncton. Paid a deposit and monthly payments for 4 years. In addition we have had to pay for repairs,but have been quoted the "book price"to purchase the car.
Food for thought, i really need a newer car, i did look into this when my iva ended but resisted over the last few months. Seems citroen who where great during my IVA will only offer me something if i have another new car which i really don't want.
Much better to get a 1 year old one thats sat on the forecourt, might look into msg or moneybarn.
Can I just ask - my car is nothing but a pain in the a*** - we are just about to enter into an iva - do moneybarn do part exchange at all? if so as were only just enetering into an iva would we 1 get credit to do this and 2 would this expenditure be allowed in our iva?
