debt free wannabee who has hire purchase

stationairy

hi you all may remember i was asking for some advice on situation
and thank every one for there help.

now i took a consolidation loan to clear all debts, but before i did i spoke to my hpi company and asked for a settlement figure.

now i received the figure and it was £2705, now i checked parkers guide and they valued it at £1900 so i thought well i will see if there is any negotioations, so submitted offer to director but it was denied and was told even though they value car at £2100 they would not accept a penny less than a full offer.

so i though fair enough i will just hand back as i have paid 20 payments and only 16 left, so that is more than half.

so i contacted them and they said they will send rac to check car out, now what i am wondering is what they will they so, what are they likely to pick up on, will this include interior, does anyone give an offer of advise how i can make sure they dont come back and say they have checked car and i owe them x amount

or if any one has actually done this and can help that would be great


any help is appreciated as once i have done this i can hand car back get rid of one debt and just get a small cheap run around

magicmaria

Hi

When my husband died I had to hand back the car we had on HPI all they do is check that the car basically works and is in resonable condition - don't know if its the same but when they came to collect our car the guy said it goes straight into Auction, and gave me the address of the Auction company (so maybe worth asking him) he said they go for less than 50% of their value,

stationairy

i think it may be is a little different as they explained it to me
as rac would come out check car over if they say ok I then have to take the car to a local depot

but thanks for your reply i will definatly ask about the auction they sell it at i mean i love the car i just hate paying over odds so it would be nice to get a bargain

southernscouser

stationairy wrote:

i think it may be is a little different as they explained it to me
as rac would come out check car over if they say ok I then have to take the car to a local depot

but thanks for your reply i will definatly ask about the auction they sell it at i mean i love the car i just hate paying over odds so it would be nice to get a bargain

Is the car in reasonable condition? Any scratches, dents? As long as it is I don't see there being a big problem!

stationairy

the exterier of the car is absolulty perfect really, it is just the interier i am mainly worried about, would you advise a full valet before they come out

Magentasue

Not sure if this is helpful: http://www.oft.gov.uk/Consumer/Hire+purchase/default.htm

stationairy

it does it is a great help
but what i was mainly looking for is someone who has had experience of this before and has actually done this

Jamer

Hi mate

I've done it. I ditched my Renault Clio after 18 months of a 3 year finance deal through Renault Finance.

I called Renault Finance, got the paperwork all faxed through (just a letter saying I wanted the contract terminated) and they were cool. At the time I pointed out that the car had done 18,000 miles over the contracted milage (whoops!), there were a couple of minor dents in the body works and a small burn on one of the seats. It also needed a service.

The girl at Renault said "Don't worry, it's going straight into an auction"

And so it did. A contractor came to my house, picked up the car and off it went. He made a note of the body damage, but said that Renault Finance weren't that worried about things like that. He did say, though, that some finance companies are pickier than others.

IMO, by sending out the RAC, they looking for an opinion on the mechanics rather than the interior etc. I'd give it a clean though - just in case!

James

stationairy

cheers mate that is spot on just what i needed to put my mind at rest