Help with sticky BlackHorse Finance situation..?

nelly12

scotsgirl wrote: »

You will have difficulty selling the car due to it being on finance - BH will likely refuse to remove their interest in it. You would be able to do a voluntary surrender to BH - you sign the car back, they sell it at auction and you are left owing the shortfall which you will be able to make an arrangement to pay off over time.

Do not do this. Talk to BH and explain what you are trying to achieve. If you are selling your car privately or to a dealer then BH may well allow them to send a cheque directly payable to them and then renegotiate the outstanding amount onto a more manageable loan. At the end of the day they only want their money that they are due. (I do not work for BH by the way so am only passing on the benefit of my experience with other Finance Houses). Good luck.

nelly12

Mrsteve87 wrote: »

In 3 months you should just be able to give the car back to the dealership and they refund you what you havent used.

IIRC, reposession is possble without your permissoin untill a 3rd of the contract has been paid.

This may hit your credit rating somewhat - but that is the reason why HP is easier to come by than unsecured loans - your car is the collateral

Did you buy GAP insurance when you bought the contract?

Care to explain 'refund what you haven't used'?

That's a new one on me.

Just found your credentials cretin.

https://forums.moneysavingexpert.com/discussion/2589477=

Mrsteve87

nelly12 wrote: »

Care to explain 'refund what you haven't used'?

That's a new one on me.

Just found your credentials cretin.

=

You look about as big as a dwarf having a go at me for posting something anout the thing people join this forum for

I admitted i was wrong - now stop being a !!!!