 | Home > Finance & Insurance > Land Rover Finance - very disappointing, next to useless... |
 
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| twopoint6khz Member Since: 18 Aug 2011 Location: North Lakes Posts: 654   
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A few things to say on this, although it appears I've rather missed the boat....
First off, MASSIVE props to 229 for having the balls to start a business in the first place. Many moons ago I drove a delivery van, and considered starting my own light haulage firm. This was back in the days when diesel pretty much came out the tap for free, people were friendlier etc etc etc. In the end I didn't have the courage. I'm sure you'll have picked up a LOT of experience along the way, though you might not realise it now, that will be helpful in future. Secondly, like it or not, modern business runs on credit. Ideally it wouldn't, but the alternative is everyone saving forever to buy assets/machinery. And in the haulage game the assets are relatively cheap - how long would it take to save up for a new power station boiler? We'd all still be in the dark. It would also favour rich people with loads of cash to spend on starting a business, so not as progressive an idea as you might think. Thirdly, buying a new vehicle. I'd have done the same. Tax-wise it's the most sensible thing to do, but the main reason is reliability as mentioned above. Bullet-proof warranty is worth more than just the avoided hassle - every person you let down is a load of customers lost. Buying a 2nd-hand truck would be a false economy. You don't see Eddy Stobart using old bangers do you? Fourthly, @CR, the property boom (and bust) in Ireland is NOTHING to do with the kind situation we're talking about here. The former was caused by people wanting a quick, speculative buck on an asset they hoped would appreciate rapidly. Hardly comparable to buying a piece of machinery on credit with which to do a job. The fact such credit has almost universally dried up is the fault of the former, but affects everyone. Obviously this is a much deeper issue with Ireland's part in the EU etc etc, but conflating the two issues is a bit unfair. Finally, as others have said yes the finance company aren't being particularly pleasant about it, but they exist to make money and aren't obliged to give you ages to pay. However it's surprising how much leeway the rules do give the consumer, and it's right to contact the relevant authorities to see if they can exert a bit of pressure on your behalf. Failing that I was going to talk about bankruptcy, IVAs etc, but it appears you've now found a way to dodge the problem.  |
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9th Feb 2012 9:05pm |
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| 22900013A Member Since: 23 Dec 2010 Location: Oxfordshire Posts: 3150 
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Its quite clear where they are in the wrong, which is why the OFT agrees they are in the wrong. They make statements in their contract which they then refuse to uphold - pretty simple really. A contact still has to reflect real life, which for most people includes the possibility that their repayments for their mortgage/car/whatever may slip from time to time - it happens to tens of thousands of people every day. A company taking the "head in the sand" approach is not only poor business sense, it is against their own contract. I don't understand whats difficult about this. If you want to bang about how I am in breech of contract as well, it doesn't change the fact that they as a company are as well. The expectation on a regulated company is for them to be reasonable and fair - FGA aren't, hence why there are dozens of theads online about what a bunch of arseholes they are. You can't state in a contract you are flexible, send a letter saying you are flexible then refuse to be when the time comes. The OFT say if they still won't talk to me after an official complaint has been made, it can then be taken to the ombudsman. If they had "done nothing wrong" as some of you seem to think, they wouldn't say that would they. Thankfully the times have passed when companies could just do as they like, FGA just seem to be one of the last to catch up - and I hope it bites them in the arse very soon! Or maybe Pom (and others) you just think anyone who defaults for any reason should automatically lose their house/car/whatever without any investigation or flexibility? God forbid anything disastrous should happen to you then... All being well, in a few years my Mrs is looking at buying a 90 - if she does, we will make sure any finance on it is not gained through Landrover finance, so they have lost custom already. You may also be interested to know that Landrover Insurance is part of the same firm. What more can I say other than YOU HAVE BEEN WARNED!!! |
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10th Feb 2012 7:32am |
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| ZeDefender Member Since: 15 Sep 2011 Location: Munich Posts: 4731  
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Many people seem to forget that organisations such as the OFT are actually protecting them all the time. In the past they have stopped banks from charging ridiculous amounts for letters and overdrafts (Heaven forbid anyone should have one of those
 ) tour operators from cancelling holidays without offering compensation and from mortgage and finance companies from repossessing people's houses and businesses without batting an eyelid. We all live in a protected society - unfortunately it takes something to go wrong (as in this case) for people to realise 
Even if the finance contract hadn't stated that reasonable steps would be taken to resolve repayment difficulties, the company is still obliged by fair-trading guidelines to do so. In this particular case, finance was taken out with this "reasonable behaviour" clause included. Moral issues aside (although the OFT exist for this purpose) Land Rover Finance are not only socially but also contractually obliged to be reasonable. This thread was originally about the poor/arrogant business practice of a company and not that of an individual. I doubt the finance company is operating within it's own "laws" let alone those of the land... Tell someone you love them today because life is short. But shout it at them in German because life is also terrifying and confusing... |
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10th Feb 2012 8:11am |
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