Am I stuck with a car on finance??

PNPSUKNET

RichUncleSkellington wrote: »

My father is in a situation with this company too:

He has had a car for just over a year, which they told him he could hand back after 2 years. I've just rung them on his behalf and theyve said this is not the case, that he either has to settle the car now, or pay it until its paid, there is no other option other than cancelling his direct debit, and being taken to court.

He cannot afford the car anymore, or indeed any other car for that matter, he just wants shot of it. They said as well as a load of charges on top, they will sell the car at auction and take it off of £13k that he owes them. I've checked, and the car is worth no more than £5k private, so it'd be about £4k at an auction?!

He is really worried about this, he thinks he is going to have to keep the car and absolutely skint himself, is there anything he can do that wont end with him bankrupt?

About £1,500- £2,000 at auction cars are not fetching much

selecta_c

cmaj31 wrote: »

Thanks for the info but after a week of trying nobody will take the car as part ex as the remaining finance is greater than the value of the car.
Does anybody have experience of continuing to pay the finance but sell the car and use the money to buy another car??

Any self respecting buyer will do a HPI check on the car and realise there is still finance against it.Personally if i was buying a car with outstanding finance on it i would insist on sending the the payment for the car direct to the finance company thus insuring it is HPI clear.When it comes to buying cars trust no one but yourself.

TjW

RichUncleSkellington wrote: »

My father is in a situation with this company too:

He has had a car for just over a year, which they told him he could hand back after 2 years. I've just rung them on his behalf and theyve said this is not the case, that he either has to settle the car now, or pay it until its paid, there is no other option other than cancelling his direct debit, and being taken to court.

He cannot afford the car anymore, or indeed any other car for that matter, he just wants shot of it. They said as well as a load of charges on top, they will sell the car at auction and take it off of £13k that he owes them. I've checked, and the car is worth no more than £5k private, so it'd be about £4k at an auction?!

He is really worried about this, he thinks he is going to have to keep the car and absolutely skint himself, is there anything he can do that wont end with him bankrupt?

We got told the exact same at the time and now after nearly 2 years we'll have to pay a settlement of £7,200 for a citreon c3. Apparently the person who sold it to us no longer works there but we are struggling to make the repayments and don't know which way to turn.
Can anyone help where my next step should be :mad: