Taking car back to dealers

[Nightfire]

Does anyone know what happens when you take a car back to the dealers? Is the trade price of the car taken off the amount I owe in finance?

I'm gonna have to do something as I'm tired of having little money so gonna have to cut all my expenses and get a cheap car

 

[R20 CWH]

you'll be given the statement of whats owed ££££ wise and then the value of the car. Dont be surprised if the payments out weigh the value of the car!

depends on the amount of deposit you put down.

Id try and settle the finance direct and not get hung by the dealers valuations!

 

[lewba]

yeh im interseted in this to! would it no be easier to get a loan out and settle the finance then sell the car and pay the loan back?????

 

[Daniel]

if you owe 6000, and the car is worth 5000, you will have to pay the dealer 1000 and give them the keys to your car.

If you owe 4000 and the car is worth 5000, the dealer will give you 1000 (if they're honest!!) and take your car from you.

 

[Nightfire]

Ok cheers. Anyone know where I can get a value of my car?

 

[darren_rallye]

You could check Parkers or Glasses for a likely trade-in price.

You'll need to phone Renault finance to find out your balance.

Sale it privately and pay off the finance.