Changing car whilst on finance

alan1302

Hi,

I have a car that was bought over 5 years and I am paying £155 a month and have just paid up my 2nd year.

I would really like to change the car to a diesel as I use a lot of miles going to work and back and it would work out a lot cheaper on fuel. Also I would like to get the monthly payments down to around the £125 mark.

At the moment the car is worth £4000 and the amount of finance still owing is £6000. I would be happy to have a car that's about the same age or slightly older than the car I have now 3.5 years and so thought it would cost around £5000.

Not sure if anyone here could advise if this would be possible or not.

Cheers,

Rafter

Wait another 6 months til you are half way through the finance deal and then you may be able to swap. The fact you are doing a high mileage is a worry though - you might be subject to a penalty if this is more than you said you would do when you did the deal. Check the finance paperwork.

Remember diesel is more expensive than petrol and that you need to service it more regularly. The difference is not as big as you might think and you will generally pay more for a diesel vehicle of the same age/ mileage too.

R.