2/3 of way through finance deal and moving abroad. What to do?

AFCChris

Hi there

I have a Citroen C4 picasso 07 reg bought in April 07 on an Elect 3 deal with Citroen Finance. This is one of the deals where there are 3 options at the end of the 3 year deal, one of those being we can hand the car back and the deal is cancelled.

I am moving to Singapore permanently and need to get rid of the car and appreciate some advice. We need to be able to settle the current finance otherwise we will owe Citroen some money. The settlement figure is £8600 but I see no chance of selling for that figure. Citroen will only give us around £6800.

I guess I need some advice on 2 things:

i) How best we can get the price we need to cover the finance (if possible!)? We are not trying to make a profit, but at the same time we don't want to have to pay out much as we need all the money we have due to the move. I heard Auto Trader/Ebay are the best options to get a good price.

ii) What are our other options? To me the most obvious option is to keep paying for the car until the settlement figure and the sale price get closer or pay for the whole last 11 months of the deal and give the car back in 2010. Obviously both these involve some of my Singapore salary going to the UK to pay the monthly finance (£298!)

I suppose if someone has any knowledge of this situation then they could advise me. Do you think that Citroen will have any sympathy with our situation as we are moving abroad?

Sorry for the long post but hope someone can help

Regards
Chris

Lemonade_Pockets

You could pay the remainder of your monthly payments and hand the car back. If you speak to Citroen they may let you off a portion of this in view of the fact that you are returning the car early, so the car will clearly be worth more and they will save some interest.

If it is less pay what ever the difference between what you have paid and 1/2 the total amount payable. Then hand the car back to Citroen.

Autotrader imo is the best place to advertise but there are lots of ebay fans too. Its a slowish market at the moment so be prepared to strike a balance between selling quickly and selling for a good price. Some obvious advice which people continuously neglet get the car 110% (professional valet if need be) take lots of photo's. Make sure u have a good description etc etc.

Beyond that i doubt citroen will be sympathetic to you situation, they will only bargain if it makes financial sense for them to do so. MFR's are far from feeling charitable at the moment.