Car finance- can i come out of the deal a year in?

SianHelen

Basically, i got my first car on finance. Loved it. But now realize it was a massive mistake as got totally ripped off and paying too much. Any ideas? :money:

BugsyBrowne

SianHelen wrote: »

Basically, i got my first car on finance. Loved it. But now realize it was a massive mistake as got totally ripped off and paying too much. Any ideas? :money:

No you can't you signed you pay.

colino

Yes of course you can leave the agreement, it's a free country. Just remember to pay all the finance up and any penalty clauses too and that will keep your credit score OK.

daveyjp

Call the finance company for a settlement figure.

gilbert_and_sullivan

Finance is never a good idea on something that depreciates, though millions of people use it, mugs game.

If ever you have reason to visit the private estates of certain Surrey towns you will see the bounty that those who lend gain from those who borrow, private security won't let the proletariat through the gates so you won't see too much.

jaydeeuk1

gilbert_and_sullivan wrote: »

Finance is never a good idea on something that depreciates, though millions of people use it, mugs game.

If ever you have reason to visit the private estates of certain Surrey towns you will see the bounty that those who lend gain from those who borrow, private security won't let the proletariat through the gates so you won't see too much.

Depends. IMO, I got an excellent PCP deal on my car in conjunction with the scrappage scheme. Its only a mugs game if you're living beyond your means. My deal 'cost' me just over £4000 over 3 years for a £13k car, I think that represents excellent value, its barely any more than the depreciation on a 2 year old car over 3 years.