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Car Finance - can't get any answers!

3 replies

nannynoss · 21/05/2014 14:53

Can anybody help me?! I seem to be going round in circles!

I have a car on finance, that is worth about £6500 and has around £5000 left to pay. (I haven't had the car long).
I am moving very soon and will no longer need a car in the area I'm moving to.
How can I get out of my finance agreement and get rid of the car?!
I don't have 5 grand lying around to pay off the remaining amount in order to sell it on privately.
I've spoken to a couple of dealers, only one has shown interest and they are offering less than 5 grand for the car (despite telling me they would sell it for £6550).

Is there any way to just give the car back to the finance company?! Or are there any options I haven't thought of here to help me out of this situation?

OP posts:
Fluffycloudland77 · 21/05/2014 15:07

You could get permission off the finance company to sell the car privately.

Then you've just got to get as higher price as you can.

ThePrisonerOfAzkaban · 21/05/2014 15:27

A garage can pay off the car loan on your behalf, we've done this before, same dealer we brought the car from. You can call the finance company and ask them to buy it off you. The "we buy any car" won't touch it I'm afraid. Or sell it privately with the finance companies say so. The thing is you will more then likely lose some money, that unfortunately goes along with having a car.

nannynoss · 21/05/2014 16:08

Thank you. I've put it up for sale to see if it would get any interest, but not had any so far. Dealers don't seem to be very interested either. I'm running out of time now and would happily give it to a dealer for a lot less than it's worth. I just want enough to clear the finance! Arghhhh.

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