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Advice Needed Please
Hi,
I've recently bought my first house at the beginning of the year. I am managing the monthly payments and bills okay so far.
The main problem I have now though is that the finance for the car I got three years ago is due to run out in approximately a month and I owe a 'final lump sum payment' of £3,500. I do not currently have this amount in my bank account, so I was wondering if anyone has any advice as to the best way to pay off the car.
I have a overdraft available that would cover this amount through my bank, but I think the interest rates are quite high for these? Would it be better to get a loan to cover the final amount? Or would it be possible to get a 0% finance deal for a short period of a year or so, so I could pay it back over that period?
Another option, which would probably be the most expensive of all, is to contact the car finance company to extend the final payment.
If anyone has any advice as to what the best option would be I would be very grateful.
Thank you!
I've recently bought my first house at the beginning of the year. I am managing the monthly payments and bills okay so far.
The main problem I have now though is that the finance for the car I got three years ago is due to run out in approximately a month and I owe a 'final lump sum payment' of £3,500. I do not currently have this amount in my bank account, so I was wondering if anyone has any advice as to the best way to pay off the car.
I have a overdraft available that would cover this amount through my bank, but I think the interest rates are quite high for these? Would it be better to get a loan to cover the final amount? Or would it be possible to get a 0% finance deal for a short period of a year or so, so I could pay it back over that period?
Another option, which would probably be the most expensive of all, is to contact the car finance company to extend the final payment.
If anyone has any advice as to what the best option would be I would be very grateful.
Thank you!
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