Help! Advice req for HP on a now unusable car!

atrixblue.-MFR-.

LandyAndy wrote: »

I think you'll find that after a third of payments have been made it can't be repossesed without a court order.

It is definitely half the financed amount has to be repaid prior to a VT. Note that if there is a final balloon the 50% mark may be very close to the end of the repayment term.

I did a VT not too long ago and it went smoothly but it is expected that the vehicle will be in a typical condition for a vehicle of its age. So, a non runner needing an expensive repair would leave the OP with a bill from the finance company to repair the car.

this is why i think its best for the OP to attempt to try a repair, if the finance CO got hold of it, they will most likley have a dealer repairit costing more than what a good independant could do it for and pass that onto the OP.

Silk

atrixblue.-MFR-. wrote: »

this is why i think its best for the OP to attempt to try a repair, if the finance CO got hold of it, they will most likley have a dealer repairit costing more than what a good independant could do it for and pass that onto the OP.

Totaly agree ...the finance would send it to Renault and a bill would be circa £3k
The cars probably worth £2k/£2.5k with maybe £800 repairs maybe less with self repair ball park figures make it sensible to repair ..as it stands the cars not worth much more than scrap as a non runner

colino

Sorry, but you really need to find the money to fix the car and then either sell it and work out a repayment deal with the finance company or keep it. You clearly haven't paid 50% of the total finance deal and either way, if you did do a VT, the company would chase you for the difference in value of your car (peanuts at auction) to what they are owed.

evsie

Interesting and really helpfull comments from you all so thanks kindly.

I will try to get a second opinion from a garage relating to its issues so I know what Im dealing with but wont be able to at least til after pay day (oh mercy!).

Il have a looksie under the bonnet as advised incase theres anything else.

The Dashboard thing is something the garage are aware of and will repair that for 'less' so they say. I shall do some digging but its really great to have you all chipping in as it makes it easier to be confident in how we tackle this one.

I will certainly be posting updates each step of the way.

Thanks to you all and have a cracking weekend! Fingers crossed this goes well!

bob_a_builder

The Dashboard thing is something the garage are aware of and will repair that for 'less' so they say

Less than ?
As already stated Renault main dealer should do this for £100
My FIL had his done by Renault dealer a couple of months ago at that price
he had someone else look at it first, before I told him about known issue, but their fix was very short lived.