Advice needed re: selling car

bagpuss1977

I bought a car last year on a 4 year payment plan, I owe maybe £9,500 on it. Ive recently split with my long term partner and really cannot afford the £270 p/m payments. Im wondering what my best options are for getting rid of it, would I just be as well getting a loan for the price of the car plus extra for a cheap runaround and just pay off what I owe and try and sell privatley? Any help apprectiated on my most economical way of doing this.
northern ireland resident

Paparika

Your going to have to finish off the payments first, The finance company still own that car until you do, no matter if you sell it on

darich

Paparika wrote: »

Your going to have to finish off the payments first, The finance company still own that car until you do, no matter if you sell it on

Not necessarily.
The company would almost definitely supply a settlement figure if you asked them for one. That would tell you what you owe. You could then decide if it would be better to sell the car privately or get a loan with a longer term and therefore lower payments.
The op also doesn't state if the car was bought on HP or with a bank loan. If it's HP then the above applies. If it's a loan then you own the car regardless of who you owe money too meaning you can do what you like with it as long as you continue to make payments.

nomoneytoday

If it's on HP have you paid half of the total amount due?