Motonovo Finance

Anglotaffy

Hi Everyone,


This is my 1st time posting so apologies if I'm in the wrong area (if I am then can someone please advise where I should be??)


Anyway, basically I've got myself in a bit of a pickle with Motonovo Finance over a car loan (I'll try & keep it brief); I purchased a used car last September with the help of Motonovo for approx. £2100 and had been paying it back at £95 per month until February, presuming all was OK. Anyway last week while I was at work my car was towed away which has caused me great anxiety. It turns out that my direct debit hasn't been being paid as it appears it was cancelled some months back (Motonovo say by me - it may have been but I certainly don't remember doing this & admittedly I should have been checking my bank account more regularly)


A note was put through my door by 'Anglia' stating what they'd done with a figure of £197 & VAT owed & a tel no of 01775 713322 to contact. I tried this no but they only work normal office hrs ( I tried on a Saturday) so I called Motonovo to ask for clarification who have now advised that the finance agreement is cancelled and my only options are that I pay the outstanding balance in full & Anglia's costs (which now appear to be £197 & approx. £300+) or that the car is sold at auction and that I'm then liable to pay the balance. Motonovo have said that they've attempted to contact me to which I replied that they may well have done (I genuinely thought they were just sales/courtesy calls & letters so didn't respond as I now know I should have).
I again called Anglia today who've advised that the car is safe with them and has all my belongings inside as they couldn't gain entry (at very, very least I want to get hold of those, but of course would like to get the car back ASAP too).
Lastly, I made a further call to Motonovo this evening to ask what the settlement figure is & I've been advised that it's £3210! This seems a huge amount but if I have to pay it I will, however when I requested if there were any options to spread this payment - even to pay half then to return to instalments it was flatly refused & I was told that I need to pay the full amount sooner rather than later as the car will be sold at auction imminently!)


So, if anyone can please offer any advice, however small on what I could possibly do next it would be hugely appreciated:
(i) Can Motonovo insist I pay everything without even entertaining my proposal?
(ii) Is the settlement figure correct?
(iii) Were Anglia right to take the vehicle away when I wasn't there?


I've never been in a situation like this before & as mentioned it's causing me a huge amount of anxiety so any help or advice anyone can offer would be great.


Many thanks

Gaz83

Anglotaffy wrote: »

(i) Can Motonovo insist I pay everything without even entertaining my proposal?

Depends what are in the T&Cs you signed up for.

Anglotaffy wrote: »

(ii) Is the settlement figure correct?

What was the interest rate on the finance? How much had you paid? How much was outstanding? What was the original finance agreement T&Cs?

Anglotaffy wrote: »

(iii) Were Anglia right to take the vehicle away when I wasn't there?

Depends what are in the T&Cs you signed up for.

There's not a great deal of information in your post to go on. It all depends on what your contract says.

Anglotaffy

Thanks so much for the prompt reply - will go & dig out the agreement now...

Anglotaffy

Hi again,


Have found the agreement & the original loan was for £2399 for which my monthly payment is £85.52 over 36months (1st DD was 18/11/14).
In the T&C's it does state that the vehicle may be repossessed & sold at auction as a consequence of missed payments.
It also states in 'Termination Your Rights' that I have a right to end this agreement in writing; To do that I would have to pay half of the amount payable plus any overdue payments + the return of the vehicle.
There is also a section entitled 'Early Repayment' which states that I have the right to repay the credit early in full or partially and that any balance will be rescheduled (there's a clause here goes into a bit more detail but nowhere does it say that this can't be applied if the vehicle's already been taken away); so essentially is this what I've offered, ie. I have already volunteered to pay a large share of the balance owed & requested that I then pay the balance in instalments?
There's obviously a load more T&Cs but I can't see anywhere that they have right to end the agreement (I may be wrong - it may be buried elsewhere, but I can't find this info if it's there).
As already mentioned, this is a massive oversight on my part re: the cancelled DD but I'm attempting to put it right so in your opinion would it be in their interests to accept the fact that I'm voluntarily looking to pay what I can & reschedule?


If you need more details, please let me know...


Many thanks again

Gaz83

Anglotaffy wrote: »

Hi again,


Have found the agreement & the original loan was for £2399 for which my monthly payment is £85.52 over 36months (1st DD was 18/11/14).
In the T&C's it does state that the vehicle may be repossessed & sold at auction as a consequence of missed payments.
It also states in 'Termination Your Rights' that I have a right to end this agreement in writing; To do that I would have to pay half of the amount payable plus any overdue payments + the return of the vehicle.
There is also a section entitled 'Early Repayment' which states that I have the right to repay the credit early in full or partially and that any balance will be rescheduled (there's a clause here goes into a bit more detail but nowhere does it say that this can't be applied if the vehicle's already been taken away); so essentially is this what I've offered, ie. I have already volunteered to pay a large share of the balance owed & requested that I then pay the balance in instalments?
There's obviously a load more T&Cs but I can't see anywhere that they have right to end the agreement (I may be wrong - it may be buried elsewhere, but I can't find this info if it's there).
As already mentioned, this is a massive oversight on my part re: the cancelled DD but I'm attempting to put it right so in your opinion would it be in their interests to accept the fact that I'm voluntarily looking to pay what I can & reschedule?


If you need more details, please let me know...


Many thanks again

Thanks.

Even if you'd made every single payment, then you'd have been looking at 36 payments of £85.32, which is £3,060. So the settlement figure looks to be about right.

I don't think you've much of a chance, to be honest. Sorry if it sounds harsh, but to Motonovo you've already shown yourself to be grossly irresponsible when it comes to repaying money you've borrowed. It's easy to see why they don't want to enter into another arrangement with you.

Anglotaffy

No problem, thanks for your honesty & input, I think I was a bit unprepared however when I called them without having the T&Cs to hand so I think I will take another 'punt' with them on these x2 points mentioned....


'It also states in 'Termination Your Rights' that I have a right to end this agreement in writing; To do that I would have to pay half of the amount payable plus any overdue payments + the return of the vehicle.
There is also a section entitled 'Early Repayment' which states that I have the right to repay the credit early in full or partially and that any balance will be rescheduled (there's a clause here goes into a bit more detail but nowhere does it say that this can't be applied if the vehicle's already been taken away); so essentially is this what I've offered, ie. I have already volunteered to pay a large share of the balance owed & requested that I then pay the balance in instalments?'


...otherwise I'll have to just let them auction it & I pay the balance - a bit frustrating as I'm actually willing to get this back on track by paying more than I otherwise would have done at this stage of the loan and of course I'm currently 'car-less' too!


Thanks again for taking the time to reply and will post again to let you know how I've got on...

Gaz83

No worries. Hopefully you get a decent outcome.