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toyota finance , advice needed.
finally_solvent_2
Posts: 12 Forumite
in Loans
2 weeks ago my son voluntary terminated his loan agreement on his Toyota. He has now received a letter demanding immediate payment of £1100 to cover various scrapes , chips and incomplete service history.
The condition report is totally fair and the demand seems to be completely in accordance with his contractual obligations. The problem is that there is no way in the world that he can pay this. He is penniless.
i personally am not prepared to sink any more money into this car as i already paid £600 to get it serviced and mot,d. However i do want to help him and i intend to ring Toyota and try to negotiate either a lower payment or time to pay on his behalf. The fly in the ointment may be that the original loan was guarantor ed by his step father . Is his step father liable for this payment ?
Any advice greatly appreciated.
The condition report is totally fair and the demand seems to be completely in accordance with his contractual obligations. The problem is that there is no way in the world that he can pay this. He is penniless.
i personally am not prepared to sink any more money into this car as i already paid £600 to get it serviced and mot,d. However i do want to help him and i intend to ring Toyota and try to negotiate either a lower payment or time to pay on his behalf. The fly in the ointment may be that the original loan was guarantor ed by his step father . Is his step father liable for this payment ?
Any advice greatly appreciated.
0
Comments
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if his farther did guarantor, Im afraid yes he would be liable alsoDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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