Giving the car back

[jimmyriddle]

Ive had my 1.2 clio 2003 dynam for 2 yrs now and want rid for a 172...can i give it back?? and if so does it go against me??

 

[telford_mike]

just p/x it?

 

[R20 CWH]

depends if your tied wi finance and such like

 

[jimmyriddle]

ive still got finance on the car, and as for p/xing it im after a red 172, i may of found one but off a private buyer,need to get rid

 

[jimmyriddle]

help

 

[dannyboy]

cant u just sell it and pay the finance off?

 

[badinvincible]

Get loan, pay off finance, sell car privately, buy 172.

Its a mini adventure.

 

[rory182]

you need to contact the finance comopany to tell them you want to sell the car to pay them off with the proceeds, otherwise there will be HPI outstanding on it when the potential buyer comes along.

 

[muz]

Its called halves and thirds

If you have paid off half of the car they cant reposess it

If you have paid off 2 third you can just hand it back. Is as simple as that

Only 2 flies in the oitment

1 they might charge you for excessive mileage

2 it makes a mark on your credit history

Did you take straight finance or a PCP?

 

[Chili Red]

If youve paid off half of the finance (not two thirds) you can end the agreement and give it back.

Then get a loan from Cahoot, marbles or similar and buy the 172 - simple as.

 

[Guilbert]

yeah i looked into that, and look at your finance agreement and it tells you how much you need to of paid off to be able to hand it back.

It works out at about 51%, so in my case £5255 or something near that.

Call them up and see how much you have paid, if you still owe money to get to that figure im not sure where you stand, as i dont know if you can just give them that money then hand it back or if you have to keep the car till you paid that amount.

 

[Horster]

Im doing this shortly.Gonna hand car back plus 180notes which equates to half and then walkaway! Doesnt affect credit history or anything like this. Most main dealers rely on people doing this for repeat business.

 

[Bryan]

i work on this basis

youve paid 2 years worth of finance, this has paid for the car, the next year will pay the interest. if you hand the car back now, you are in no better of a position than oyu were 2 years ago, if you hold out until the end of the agreement, you will have a car that you own that you can use as as deposit against a new car

unless you bought in on PCP, in which case, you can p/x it through the dealer and they should paty you enough for it to pay off the finance company