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webuyanycar.com
angelicmary85
Posts: 4,977 Forumite
in Motoring
Hi Guys,
Recently found out that my HP agreement was in actual fact a personal loan which had the interest from a previous settlement figure added on top of it, I genuinely wasn't aware this was a loan or I wouldn't of bought the stupid car!! :mad:
Anyway, I've had it valued through webuyanycar.com who are willing to offer just over 6k (subject to inspection) however the settlement figure on the loan would be closer to 10k (not had this car very long and 4k was added on from pervious settlement figure) so my question is -
Do I get rid of the car (motor loan is unsecured so I legally own the car) and pay a lump sum to help get rid of the loan?
I don't want to have to keep trading in cars as the interest will just keep getting added on everytime and I don't think an 07 Focus is worth 12k so I don't want to keep paying until the term is up!!
Any help would be gratefully received!!
Recently found out that my HP agreement was in actual fact a personal loan which had the interest from a previous settlement figure added on top of it, I genuinely wasn't aware this was a loan or I wouldn't of bought the stupid car!! :mad:
Anyway, I've had it valued through webuyanycar.com who are willing to offer just over 6k (subject to inspection) however the settlement figure on the loan would be closer to 10k (not had this car very long and 4k was added on from pervious settlement figure) so my question is -
Do I get rid of the car (motor loan is unsecured so I legally own the car) and pay a lump sum to help get rid of the loan?
I don't want to have to keep trading in cars as the interest will just keep getting added on everytime and I don't think an 07 Focus is worth 12k so I don't want to keep paying until the term is up!!
Any help would be gratefully received!!
Started PADdin' 13/04/09 paid £7486.66 - CC free 02/11/10
Aim for 2011 - pay off car loan £260.00 saved
Nerd No. 1173! :j
Made by God...Improved by the The Devil
Aim for 2011 - pay off car loan £260.00 saved
Nerd No. 1173! :j
Made by God...Improved by the The Devil
0
Comments
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I have to go soon,
If there's anyone that could give me some advice on what I should do I'd be really grateful.Started PADdin' 13/04/09 paid £7486.66 - CC free 02/11/10
Aim for 2011 - pay off car loan £260.00 saved
Nerd No. 1173! :j
Made by God...Improved by the The Devil0 -
Would this thread about motoring be better off somewhere else? Doesn't look like I'm going to get much help here!Started PADdin' 13/04/09 paid £7486.66 - CC free 02/11/10
Aim for 2011 - pay off car loan £260.00 saved
Nerd No. 1173! :j
Made by God...Improved by the The Devil0
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