Car respossession

Loganfire

sell the car pay off the debt and get a old banger with the money left over

coinxoperated

I was in a similar positioin about 3 years ago with a Mini Cooper on fianance with Close Motor Finance (NEVER AGAIN!!!!!!!)

Due to the recession, I moved from earning around 40k pa to 15k so had to cut everything, including moving house and giving my car back. I still had about 2k worth of debt to pay off even after they had sold it at auction.

Because I was still actually in work, I tried to agree a further repayment plan, so rather than the 213pm they were charging, to around 100pm but with an extension of a couple of years. Not a chance .They were prepared to lose money on the car in the longterm, just to be difficult.

Just give the car back and start again. You can get an ok car for 500-1000 (pound sign doesn't work sorry!).

You should be able to claim your tax back. You won't get anything for the MOT.

patman99

Op, depending how long ago this all kicked-off, you could try writing to the DCA stating the debt is in dispute. They will then have to push the debt back to the original finance company.
Remember to write to the original finance company first with a letter pointing-out you wish to dispute the loan and offer a payment plan.
As the debt will pass back to them once in dispute, you can then point-out that by accepting a payment plan, they will get more money in the end than they ever will by selling-on the debt to a DCA for pennies in the £.

Apples2

patman99 wrote: »

Remember to write to the original finance company first with a letter pointing-out you wish to dispute the loan and offer a payment plan..

Why would you offer a payment plan if the loan is being disputed?

Strider590

It doesn't help much now, but I always live by the rule "If you can't afford it outright, don't buy it". Perhaps something you can take with you when you sort out this mess.

Hoof_Hearted

Strider590 wrote: »

It doesn't help much now, but I always live by the rule "If you can't afford it outright, don't buy it". Perhaps something you can take with you when you sort out this mess.

If it doesn't help much. why bother saying it?

andygb

Strider590 wrote: »

It doesn't help much now, but I always live by the rule "If you can't afford it outright, don't buy it". Perhaps something you can take with you when you sort out this mess.

Try telling that to the millions of people who have a mortgage - you haven't exactly thought this one out very well have you?
The same applies to cars, because there are many people out there who would not be able to pay the full sum, due to many different circumstances.
Anyone can fall on hard times, so get off your high horse for heaven's sake!:(

forgotmyname

Unexpected things can happen to anyone. I had issues myself.

The demon credit cards, Used for the wrong reasons. Or to pay for something unexpected. Someone took a dislike to my car at a previous address.

Credit cards used to pay to fix it. The balance crept up and then sudden illness meant i couldnt pay them.

Currently its a case of no funds to pay cash you dont have it. Fingers crossed we are doing OK since.

George_Michael

andygb wrote: »

Try telling that to the millions of people who have a mortgage - you haven't exactly thought this one out very well have you?

Bearing in mind that one of these people who has or has recently paid off a mortage is Strider590, so it appears that they don't mind preaching "If you can't afford it outright, don't buy it" provided that it doesn't have to apply to themselves.

Stigy

Loganfire wrote: »

sell the car pay off the debt and get a old banger with the money left over

He'll be lucky if anyone is mad enough to touch it with outstanding finance.