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New Car Question
mustbedebtfree
Posts: 427 Forumite
Hi All
I have this morning called to arrange to return my car that is on a contract purchase scheme, I have been told that i can't terminate the agreement as i haven't paid more than half the value and that i must sell the car and then settle the remaining finance
Can they do that? I don't want to get into trouble when i go BR that i sold an asset. I would struggle to sell the car for the remining finance value
I could sell to one of those buy my car websites but they valued it at 1500 less than the remaining finance
I'm stressing out a bit as it's the only thing i still have registered in my parents address as i was planning to return it but the finance company wouldn't speak to me about returning the car as i hadn't defaulted on my payments. Now i have defaulted they tell me i have to sell the car
Thanks for any help!
MBDF
I have this morning called to arrange to return my car that is on a contract purchase scheme, I have been told that i can't terminate the agreement as i haven't paid more than half the value and that i must sell the car and then settle the remaining finance
Can they do that? I don't want to get into trouble when i go BR that i sold an asset. I would struggle to sell the car for the remining finance value
I could sell to one of those buy my car websites but they valued it at 1500 less than the remaining finance
I'm stressing out a bit as it's the only thing i still have registered in my parents address as i was planning to return it but the finance company wouldn't speak to me about returning the car as i hadn't defaulted on my payments. Now i have defaulted they tell me i have to sell the car
Thanks for any help!
MBDF
In for a penny in for a pound :j
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