Car Finance - Car broken & not able to afford repairs

symesd

Hi any advice on what to do

My husband has finance on his car (30 months load - paid 18months - 12 months left to pay)

Car has just failed its MOT - would cost about £1,200 to fix it

Have not got this kind of money as in loads of debts (thats another story) Have now declared the veh as SORN and it is on the drive for the forseeable future.

Have checked the finance policy and we could voluntarily end the agreement which would be great as this would save us £170 (Finance & Insurance) and we have been managing with 1 car for about 2 months now.

However it stated " and have taken reasonable care of the goods" we have not not looked after it - it got all the work done at the last MOT and there was no problems but inbetween the last MOT and this one it has failed on loads of stuff - none of which mentioned on the last MOT.

Or do we carry on paying the finance then sell for scrap when all paid off in 12 months (not the option I prefer)

Thanks

Diana

KingElvis

You will not be able to end the agreement if the car is not roadworthy or broken. They will charge you big time to get it back into condition.

With loads of debt, you also have no chance of getting a car from a reputable dealer.

I think you'll just have to manage with one car and then get the other back on the road as and when you can.......good luck.

CHR15

Remember that even if you SORN the car, you still need to have a valid Insurance Certificate for it

http://www.moneysavingexpert.com/news/travel/2011/05/now-you-must-have-car-insurance.

custardy

CHR15 wrote: »

Remember that even if you SORN the car, you still need to have a valid Insurance Certificate for it

http://www.moneysavingexpert.com/news/travel/2011/05/now-you-must-have-car-insurance.

no,read the 1st paragraph

If you’ve got an uninsured vehicle you are breaking the law whether you drive it or not, under rules that came into force this week, unless you declare it off-road.

what car is it and whats wrong with it?

dresdendave

symesd wrote: »

Car has just failed its MOT - would cost about £1,200 to fix it

Is this repair quote from the garage that MOT'ed it? Have you got any other quotes from independent garages. Have you any friends/relatives with motor trade connections who could obtain the parts at trade prices?

Forwandert

What company is the hp with? If its welcome finance they appear to be accepting them back in any condition, I vt'd one about 9/10months ago and it needed a new gearbox, headlight, new tyres etc nobody even inspected the car and the paperwork clearing all the finance arrived before the car was collected.

ILW

CHR15 wrote: »

Remember that even if you SORN the car, you still need to have a valid Insurance Certificate for it

http://www.moneysavingexpert.com/news/travel/2011/05/now-you-must-have-car-insurance.

100% wrong.

iolanthe07

CHR15 wrote: »

Remember that even if you SORN the car, you still need to have a valid Insurance Certificate for it

http://www.moneysavingexpert.com/news/travel/2011/05/now-you-must-have-car-insurance.

That's what the insurance companies would have you believe, but as Honest John pointed out in Saturday's Telegraph, if the car is SORNED and off road insurance will not be compulsory when the new regs come in June.

RichGold

symesd wrote: »

Car has just failed its MOT - would cost about £1,200 to fix it

What does the MOT fail sheet say? It should give a detailed breakdown of every part that failed the MOT, therefore allowing you to shop around from home with little effort and get better quotes. Just as an example, I recently had a head gasket done at a normal garage for a certain amount, then found out I could have had it done at a Mercedes main dealer for substantially less.
Try another garage.