www.iva.co.uk

Hi

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.

That's good to know Julie and thank you for sharing your experience. Were you not tempted to get a new one?

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[:)]

hi, did you lease through moneybarn? What is the usual deposit like?

Hi Devon,

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.

i think leasing is our only option if we want to buy a newish car that is more cost effective to run. I've heard of MSG too....

Hi Julie,

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.

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

Regards

A positive post with experience from a couple of posters of using the company and I'm sure it will help others x

Nice to see you back again Peter. Hopefully you can help some of our posters.

Hi Peter,

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.

Well we have made our final lease payment and now own the car.

It has been expensive, but given the circumstances, it was an easy & available route for us at the time to have a car that we could rely on!

There was a "hidden" clause whereby we had to pay for maintenance, but all in sll we are pleased with the service received.

In particular, the service re: our contract with moneybarn to finalise the lease to ownership was exceptional. Well done Moneybarn!

Good news Julie.

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?