 | Home > Finance & Insurance > Land Rover Finance - very disappointing, next to useless... |
 
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| 22900013A Member Since: 23 Dec 2010 Location: Oxfordshire Posts: 3140   
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Has anyone else had any stupid issues with Landrover finance/FGA Capital?
Without going into too much detail I have had some minor difficulty making the repayment on my 110, a situation which will (I hope) shortly be resolved anyway, but I feel the need to point out how FGA operate under these circumstances. The Finance agreement I was given by my dealer clearly states that the finance firm have the option to extend the repayment schedule (in effect, give a month or twos grace), and obviously this is their choice to do so. The default notice they serve has in there an invitation to call them to discuss the situation should you be having difficulties making the repayment. The actual wording is - "If you are having difficulty making the required payments, you should call us on the telephone number below to discuss this matter". Now, the other thing that needs to be said, is that before they even issue a default notice, they will ring up several times a day. As I drive trucks now, I obviously can't answer the phone when I am driving. I did answer when they rang when I was in the office, and I noticed at that time they had changed it so their caller ID was withheld - a bit of a dirty trick I think. I explained why I could not answer the phone all the time and they said that would be noted and any further comms would be by letter, as I had requested. I had sent a letter to them explaining the situation, and enclosing a cheque with partial payment, and explaining I would pay as much as I could, as soon as I could - reasonable enough eh? Now, under the FSA, they are not supposed to contact you by phone until seven days have passed since the default - so why do they ring right away? I had a phone call from them again today, again from a withheld number - first thing thats odd is they ask me for security info, my name, full address including postcode, and date of birth. They rang me, why on earth do I need to prove who I am? They should be proving who they are by quoting the loan reference so I can verify who they are. No doubt there are one or two of you on here with similar finance deals - I could ring up pretending to be them and get all your personal info - scary stuff! Anyway, considering what I said about calling them to discuss, I used the opportunity to ask what they could do. The answer? Nothing. I asked about the paragraph in the agreement re extending the period and was told they never do this and haven't done so for over ten years. So why the hell is it still in the T&Cs, and why do they invite you to call in to discuss when all they do is demand immediate payment? To me, this is a company Landrover should NOT be working with as they are clearly unprofessional (harassment by phone, unwilling to compromise) why is Landrover a partner with this firm? My advice to anyone considering Landrover finance is to seriously consider what I have written above before going ahead with it, as if you should fall into difficulty (redundancy for example) all they will do is ring you up all the time and threaten to repossess the vehicle, without any shred of attempting to compromise. It would cost them very little to simply add a month to the schedule, they simply don't want to do it. I will be making a formal complaint to Landrover about their involvement with this firm, as they are clearly not of the high standard that a Landrover partner should be. Has anyone dealt with any other finance firms? I really feel like seeing if I can transfer my account to another company as this lot are so unprofessional and unhelpful to the point of being useless. Next time they ring I feel like just asking "are you going to help me or not?" and if they say they want payment just hanging up, they don't listen to you anyway. I should also like to say that I in no way blame the dealer for any of this, as they are tied by Landrover to the finance deals on offer. 2011 110 USW 1973 Series III 1-Ton 1972 Series III 1-Ton Cherrypicker 1969 IIA 1-Ton 1966 IIA 88" |
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8th Feb 2012 5:05pm |
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| ken Member Since: 18 Aug 2009 Location: Banging Birds with my bitches !! Posts: 4328
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Speak to the FSA
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8th Feb 2012 5:14pm |
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| CR Member Since: 28 Jan 2010 Location: Ireland Posts: 947  
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I find it amazing that people agree to and sign a contract and then get on their high horse when they decide they do not want to comply with the agreement. In my book it is very simple you borrowed the money so you should pay it back on time.
If people lived within their means and did not over borrow the world would not be in the mess it is. What has happened in Ireland is we are all paying for other peoples loans and I am not happy about it. If I am correct did you not purchase the 110 for a transport business, why did you not start with an older car and go from there ! |
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8th Feb 2012 5:17pm |
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| 22900013A Member Since: 23 Dec 2010 Location: Oxfordshire Posts: 3140
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I am not on my high horse for "not wanting to comply with the agreement" I am  off at the actions of a finance company who do not comply with THEIR OWN side of the agreement. It is just poor business sense to simply button up and refuse to help - I HAVE fulfilled my side of the bargain by speaking to them as they suggest, yet they will not do anything to help me - why is that my fault? Frankly I find your post a little crass if I may say. Would you say the same to someone who was made redundant? So my business failed - at least I tried, does that mean I deserve the harassment and totally unhelpful attitude I have received from FGA? Or is life just "tough" and thats it?
Your comments about Ireland and the general global financial situation are irrelevant also. In general if people lived within their means they would be pretty poor and miserable due to stingy wages that fatcats pay, a few crumbs off the edge of the fatcats table is not a meal is it? Why didn't I buy a second hand 110...would you? Seriouly? That could have been fun, breaking down all the time, goodness knows what it did before I would have owned it, was it serviced properly - sorry but I think that would be far too risky. 2011 110 USW 1973 Series III 1-Ton 1972 Series III 1-Ton Cherrypicker 1969 IIA 1-Ton 1966 IIA 88" |
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8th Feb 2012 5:40pm |
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| 22900013A Member Since: 23 Dec 2010 Location: Oxfordshire Posts: 3140
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Not a bad idea really, my solicitor seems to think they are skirting on the edge of not quite complying with the financial rules. 2011 110 USW 1973 Series III 1-Ton 1972 Series III 1-Ton Cherrypicker 1969 IIA 1-Ton 1966 IIA 88" |
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8th Feb 2012 5:41pm |
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| ZeDefender Member Since: 15 Sep 2011 Location: Munich Posts: 4731  
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The world is in a mess for many reasons, of which borrowing to buy a vehicle that is used for work (a concept foreign to many) is probably a lesser one. What would make the world less of a mess is if people (including those in companies) were reasonable and tried to help each other. Call me a hippie - I dare you  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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8th Feb 2012 5:43pm |
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| 22900013A Member Since: 23 Dec 2010 Location: Oxfordshire Posts: 3140
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THANKYOU! Thats my point exactly! I am just so angry with these people who have the power to help, and yet decide not to, print lies on their paperwork and harass me. I accept that being late on a payment is not a good thing, but I feel I do not deserve to be treated in this way. They pretty much say "pay up or we will repossess the car". There is a world of difference between me and someone who just can't be arsed to pay and I resent being treated in the same way. Its not as if I am spending the money on crack, Caribbean holidays and hooker is it???!!! GGGGRRRRR!!! Can you guys tell I'm angry today?? 2011 110 USW 1973 Series III 1-Ton 1972 Series III 1-Ton Cherrypicker 1969 IIA 1-Ton 1966 IIA 88" |
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8th Feb 2012 5:51pm |
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| custom90 Member Since: 21 Jan 2010 Location: South West, England. Posts: 19620
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If I am correct did you not purchase the 110 for a transport business, why did you not start with an older car and go from there ![/quote]
Older cars equal higher maintenance bills by far and also for business purposes down time and money lost whilst being repaired. Newer vehicles are a lot more reliable especially a Land Rover! Not only that if every body in this country 'lived within their means' according to this government** they wouldn't have a car at all public transport is sufficient. What a joke  |
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8th Feb 2012 7:52pm |
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| CR Member Since: 28 Jan 2010 Location: Ireland Posts: 947
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Thought this might get a reaction, ok a couple of things, no I would not start a new business with a new or a second hand 110 I would probably use a second hand Land Cruiser as they give less problems, that is if the business could afford either and the figures for operating the business added up. I think you need to seperate need from want.
"pay up or we will repossess the car". I agree with this it is no different than you going into a shop and walking out with a bottle of milk and not paying. (which I don't think for one minute you would do) "In general if people lived within their means they would be pretty poor and miserable due to stingy wages that fatcats pay, a few crumbs off the edge of the fatcats table is not a meal is it?" So what are you saying is no one should live within their means ? because they would be miserable ! I am sorry but we are not living in the eastern block circa 1976. No one is entitled to anything in this life and ask Orwell all animals are not equal. This is not personal but is my view on the mess that the world is in. Everyone thinks they should have everything and it does not matter who in the end has to pay |
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8th Feb 2012 7:59pm |
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| Zagato Site Supporter Member Since: 08 Jan 2011 Location: Billingshurst West Sussex Posts: 4990
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Absolutely |
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8th Feb 2012 8:12pm |
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| 22900013A Member Since: 23 Dec 2010 Location: Oxfordshire Posts: 3140
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Well, errr, thanks for the input guys...so one guy understands what I'm saying, the rest of you think I'm as bad as, if not worse than the finance company then?
Well cheers for that. If more of us/you stood up to these crooked things wouldn't be half as bad they are now.
 Why on earth can they write a CONTRACT and then renege on it? If you employer just told you you were sacked with no warning or reason you could take them to the cleaners, the same should apply with these finance firms. They have put in place options to assist with repayment, and CHOOSE not to use them, they would rather shaft you for a short-term profit.
If people are happy with this kind of arrangement then I would feel sorry for you, as these people live in cloud cookoo land "if we repossess you would be immediately liable for £11000 repayment" - yeah, cos thats really going to happen... I have posted a warning about how this firm operates, and will be making an official complaint to Landrover head office. I can do no more, but feel I have done my bit by warning others how they could be treated. And to those of you who don't live beyond your means, do you not have mortgages then? No credit cards, no anything?? Course you don't, unless your mega-wealthy yourself. Toodle-pip! 2011 110 USW 1973 Series III 1-Ton 1972 Series III 1-Ton Cherrypicker 1969 IIA 1-Ton 1966 IIA 88" |
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8th Feb 2012 8:25pm |
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| Zagato Site Supporter Member Since: 08 Jan 2011 Location: Billingshurst West Sussex Posts: 4990
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Hard truths Dan but you always new the business was going to be VERY hit and miss until consistent work was secured. It was a big gamble and a leap of faith to pack in your job and take on the huge mortgage size costs. I'm afraid I couldn't see how it was going to ever work out unless you found regular reliable work which I mentioned at the time.
The successful model I was trying to steer you onto was Paul who whilst keeping his day job, bought an older TD5 and a trailer and started to do a few jobs and make contacts. As his network of business increased he phased out his old job and built up some capital to improve the vehicles he had. The repayments on his vehicles was always kept low and manageable and finally he was able to get new vehicles. TD5's will do 250,000 as you know (his last did!) and if maintained properly they are quite reliable of course. It would have avoided the crippling repayment charges. Forget complaining about small print, they don't owe you anything, bottom line is that the money needs to be repaid which hopefully you can do ASAP to get yourself out of this predicament. To be more positive, you could still do it perhaps, you have made contacts since starting the business. Take a part time job, buy a TD5 etc and build the business up gradually  |
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8th Feb 2012 8:38pm |
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| custom90 Member Since: 21 Jan 2010 Location: South West, England. Posts: 19620
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Agree.... Rich stay rich and get richer. The poor stay poor and or end up with nothing after many try so hard and often have worked all their lives to find they've got no futher for doing so what so ever. Everyone that 'preaches' about what people should and shouldn't do are often one that have no financial problems themselves at this precise moment in time! You don't have to b a bad person nor a big spender to hit a bad patch and often for some there is no hope to even turn it around very very quickly. There is many people that fully understand exactly what they've entered into with a financial contract and have the means to pay and have full intention to make every payment on time. It's not entirely fair that for one mistake for example missing one payment you should be penalised if you havnen't had the means to pay due to another un-expected expense. I would always try and buy in cash and save where possible but people have to live and have a vehicle here and now not 20 years time. See how long it takes to save £20,000 plus....... |
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8th Feb 2012 8:45pm |
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| ZeDefender Member Since: 15 Sep 2011 Location: Munich Posts: 4731
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Isn't it more like the shop keeper telling you he'll put the milk on your account until the end of the week and then sending his brother round with a baseball bat because you were hospitalised at the weekend and couldn't pay until Monday morning? One of the things I like about Germany, incredible though it may seem, is that most organisations are reasonable and make efforts to understand a situation. When finance/mortgage etc. companies act like arseholes, their shareholders might get a rich a bit quicker but the effects on individuals ("serves them right") can be devastating and knock-on to society as a whole (having to deal with homelessness, crime, depression etc.) Living in a decent society means looking after each other (the "good'ns at least) - dishing out social security when it's all gone wrong for people is just burying the dead... I'm not religious but I think Jesus got a few things right... Mellow Matt 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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8th Feb 2012 8:46pm |
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