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handback car on hpp
hiya following bad advice i took out a car loan on hp in 2008 just as i began my nurse training, I now need a more suitable car as i have a child I have the funds to buy a new car but still have two years left on finance car is worth 2500 and i owe 2500, it is high purchase can I just hand it back update to date with payments just want rid
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Comments
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Well, you need a settlement figure. If you are going to a dealership for a new car, find out what they will give you in part ex. Even if there is no equity, you may be able to haggle to get some part ex from them. The outstanding finance will be paid off by them and you go ahead with a new finance deal. You will obviously be paying off the remaining amount that you owe on the first car.0
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If it's HP you should have the option to voluntary termination (ie hand the car back and make no further payments so long as you've paid more than 50% of the payments). Give them a call.Total 'Failed Business' Debt £29,043
Que sera, sera.
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You can't part ex a car on HP as it's not the OP's to sell or part ex. Also taking out finance with the new garage to pay off the finance would end up costing the OP loads of interest when they should have the option to VT anyway.motherofstudents wrote: »Well, you need a settlement figure. If you are going to a dealership for a new car, find out what they will give you in part ex. Even if there is no equity, you may be able to haggle to get some part ex from them. The outstanding finance will be paid off by them and you go ahead with a new finance deal. You will obviously be paying off the remaining amount that you owe on the first car.Total 'Failed Business' Debt £29,043
Que sera, sera.
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You can part ex it on hp, the dealer just pays off the settlement figure to the finance companyDon'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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