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Shafted.
- Thread starter MikeC
- Start date
Alfa Mito 155TB
Hello did you get your car oh Hire Purchase?
If so at exactly half payments you are entitled to give it back to the Hire Purchase company who will ask you to take it to a car auction place....the car must be in an ok resale condition..
We did this with the old Model Micra...£2300 was owed on finance and it was worth £800..so we handed it back in and put the £2300 off against a new car rather than loosing £1500
have you rung up and got a settlement figue mikey? Surely you dont owe that much money still? When did you get the car. and how long you been paying it?
My finance settlement is about £800 more than the car is worth too, unless i can get some mug to pay £6k for my car then i can pay the finance off and have a couple of hundred in my sky rocket. Or i can wait till the summer, and i will of paid 51% where i am able to just hand the car back.
Nissan Jewk
I was naive, what can I say. I didnt do my homework on the finance and now im paying out my ears for it. Put it this way, finance charges were nearly £4k alone.... I didnt read that shizzle before last night! I might just keep going for another year, pay half the value of the car and give it back, if I can.
What Im trying/going to do is to get a bankloan, pay off finance then sell car privately. Least I would lose would be about £500-£1000, depends on what I sell the car at...
Weeman sucks ****
What do you owe on the car mike?
Just re-finance with a loan elsewhere.
Weeman sucks ****
They are but if you want any kind of fun in your life you cant survive without them...unless youre loaded of course.
Mike, get an actual settlement figure, not just one youve calculated yourself.
Then go onto Lombard sites and Cahoot with a view to getting a loan to pay it off and use their online calculators to see how much you could save each month.
I did it and swopped over, youd be surprised.
Weeman sucks ****
Thats it mike and yeah get a settlement figure from the finance company. You can pay over longer and probably with a lower APR.
AA are good as are directline. Theres loads of loans out there.
is your car on Renault Finance Mike? If so they are able to give an instant settlement figure on there loans by telephone
Remapped derv Golf
Same as my friend.
He bought a mk4 Astra SXi in November (told him not to buy a new vauxhall!) - over 5 years. Its now worth 7k but he still owes 8.7k
LOL!
Also Mike, if you have good credit and a good history with your bank, then try them for the loan as well. Even if there advertised rate is higher than what you have seen elsewhere, if you are a reliable customer i.e. long history and never overdrawn etc, they can give you a lower APR etc if they want to - play them off against other loans available to you in the same way you do with insurance quotes come renewal time. Doesnt hurt to exagerate either like you would when comparing insurance quotes i.e. "X bank said they would give me X APR, Im a loyal customer here and I want to keep all my finances with you, so why cant you match that?" Give it a shot mate, nothing to lose and its worked for me. Could even use your current/savings account as leverage i.e. "If X bank can do me such a better rate on a loan, perhaps Id be better to move my current acct, savings acct and credit card over to them as well"
Good luck fella.
