Car broken down, still has finance - what are my options?

juffery

Hi there

I've got a wee Honda Civic that has packed in. Obviously needing immediate repairs, but we're not in a financial position to get it fixed. Haven't even been able to get it looked at, it's still dumped outside my work. Took out finance to buy it about 3 years ago and we have 2 years left to pay on it.

Someone mentioned to my wife a voluntary thing where we can get rid of car and finance - essentially writing the car off I think - but she's quite sketchy about the details. Does anyone know what options I might have here?

Any advice greatly appreciated.

LandyAndy

You can terminate an HP agreement with nothing further to pay (Voluntary Termination) after you have repaid more than half of the financed amount. Might apply if you are 3 years into a five year agreement. The finance company will charge you for the repair though as the vehicle has to be returned in satisfactory condition.

There's a moral here. Don't take five year finance on a second hand car. No help to you, I know, but an important point.

juffery

That'll be what it is, thanks for that. As for the 5 year deal, it was what we could afford at the time. I had always gone for wee bangers, rub them for 12-18 months then moved on. Thought we were being sensible getting a newer family car that hopefully wouldn't cost too much in upkeep and repairs - it's not worked out like that. Back to the bangers!!

penrhyn

Yes but what is the age of the vehicle and what is wrong with it?

juffery

Antispam wrote: »

What's wrong with the car, Honda's are pretty reliable cars although parts can be slightly pricey. Did you get any quotes before posting here. I know it doesn't help you now but you always have to factor it running costs/future repairs when you buy a car

The reliability was one of the reasons we went for a Honda - we seem to have got a bit of a dog. Haven't had any quotes as yet as we are exploring all our options before progressing.

And I am well aware that you have to factor in repairs etc when buying a car, but over the course of three years, circumstances can change quite a bit. :cool:

LandyAndy

juffery wrote: »

That'll be what it is, thanks for that. As for the 5 year deal, it was what we could afford at the time. I had always gone for wee bangers, rub them for 12-18 months then moved on. Thought we were being sensible getting a newer family car that hopefully wouldn't cost too much in upkeep and repairs - it's not worked out like that. Back to the bangers!!

Not in any way wanting to rub your nose in it but it is now clear you couldn't afford it.:( You simply hadn't considered all the eventualities and, in particular, that your circumstances might change substantially.

And, as others have asked, how old is it and what happened ( I know you haven't had a diagnosis yet).

juffery

penrhyn wrote: »

Yes but what is the age of the vehicle and what is wrong with it?

It's 9 years old. The timing belt is needing replaced, althought that isn't the immediate issue. Haven't been able to take it to a garage as yet, but when I called out Green Flag initially the chap felt it was probably an electrical fault.

Notmyrealname

juffery wrote: »

It's 9 years old. The timing belt is needing replaced, althought that isn't the immediate issue. Haven't been able to take it to a garage as yet, but when I called out Green Flag initially the chap felt it was probably an electrical fault.

So it could be something as innocuous as a fuse.

Get it to a garage, get a quote.

LandyAndy

Five year finance on a six year old car:eek:.

I don't think finance companies should be allowed to offer finance that ends when a car is 11 years old.

juffery

LandyAndy wrote: »

Not in any way wanting to rub your nose in it but it is now clear you couldn't afford it.:( You simply hadn't considered all the eventualities and, in particular, that your circumstances might change substantially.

And, as others have asked, how old is it and what happened ( I know you haven't had a diagnosis yet).

I was driving and the battery light came on. As I drove in to park, engine began coming and going as did steering and brakes and lights on dashboard -ABS, steering etc - started flashing and then engine died. When I tried starting it it wasn't even turning over and once the GF guy jumped I was able to drive round to my work, but steering, brakes still kept coming and going.

LandyAndy

juffery wrote: »

I was driving and the battery light came on. As I drove in to park, engine began coming and going as did steering and brakes and lights on dashboard -ABS, steering etc - started flashing and then engine died. When I tried starting it it wasn't even turning over and once the GF guy jumped I was able to drive round to my work, but steering, brakes still kept coming and going.

Failed alternator and dead battery?