Pay full Arreas or Repossess my Car

lynz68

People on here have given you some sound advice but unfortunately all you appear to be doing is feeling sorry for yourself.

Only you got yourself into this the company are quite within there rights to look for the car back.

If by some miracle you do manage to come to an arrangement with them how secure is your new job? If you lost that you would be back in the same situation.

To put it simply you cannot afford this car as I said previously let them take it and start again with a banger they are more fun anyway.

happycamel_2

That company won't get the money it's entitled to by the contract you signed. Ultimately someone could be made redundant or the whole company go bust because people who owed money didn't pay. That's why the economy isn't great, although its not been in cession for a long time.

If you want a better than NMW job then you need better than minimum skills. Get to work, use a moped if you need a cheap runabout, work hard and learn and your wage will rise.

SuziQ

People on here have given you some sound advice but unfortunately all you appear to be doing is feeling sorry for yourself.

I totally agree. OP has been given the very sound advice to buy a cheap car but never even considered it. I have been driving a £300 Ford KA for a year now. It is a great runner, cheap to run insure and tax and I have spent nothing except road tax, mot, insurance and petrol. The bargains are out there!

lynz68

I only recently got rid of a Ka that I bought 5 yrs ago for £1000 great little car very little went wrong with it.

LisaLou1982

cduuffo13 wrote: »

yeah the jobs that are worth it are well paid am on nearly min wage.. 6.50 an hour without my breaks paid. its just a joke I finally get on my feet with an income and now they wont accept my payments bunch of toss*rs they know what the economy is like and how hard it is to get a job but their not bothered that's why were in recession.

company's sponging every single penny squeezing extra tight even for money you don't have and hitting you when times are hard with charges because you fell behind so any money you get only pays the charges off and your not gaining.

the poor are getting poorer the rich are getting richer

its corrupt this government should of some kind law to protect people in bad situations. it wasn't my fault I got made redundant so now am going to be left with £8k or so to pay for thin air basically.

Give Over OP!

So its the governments fault that you took out finance for a car you couldnt afford when the SHTF?

I think its high time that people started taking RESPONSIBILITY for their own actions. You are no different to those who whined that it was the banks fault for lending them too much money when the housing market went down the pan and they got repossessed.

For the record. I bought my house at the top of the market. I did not borrow 125% of the house value, rather i saved 20% deposit and then borrowed the amount of money which was no more than i paying in rent each month. I sold my house at a loss when i bought my next one. But it wasnt a problem as i had equity in it anyway.

The only person who is to blame is you. Not the government, not the "rich people" (whoever they are) and not the companies. I dont have a posh car. Not because i couldnt afford one on a monthly payment plan - quite the contrary in fact. But because i like to OWN my things. Not rent them off someone for an indeterminate amount of time.

kittiej

OK I have prob missed the finer details but;

1) is this hp

2) how long is the agreement and how many payments have you made?

3) Are there any faults with the vehicle?

4) Who is finance with?

5) were you 'forced' into PPI?

cduuffo13

kittiej wrote: »

OK I have prob missed the finer details but;

1) is this hp

2) how long is the agreement and how many payments have you made?

3) Are there any faults with the vehicle?

4) Who is finance with?

5) were you 'forced' into PPI?

1 - Yes

2 - 5 years and 4 payments

3 - No

4 - Moneyway

5 - Don't think so

Lisa, I got made redundant from comet, All am saying is their should be some kind security from the government to help people in my situation. For example ( We will allow your 2 Months to find a job and if you don't have an income then you are ordered to give the car back )

If the car does go back I will have to use my week-in-hand money to get a £300 motor instead of giving it to the finance company.

I just don't want to be in 7k debt with nothing to show.

gb12345

cduuffo13 wrote: »

All am saying is their should be some kind security from the government to help people in my situation. For example ( We will allow your 2 Months to find a job and if you don't have an income then you are ordered to give the car back )

Did the government force YOU to borrow money for a car that YOU couldn't afford to buy with your own money?? You took a risk that you would be able to afford to make the repayments for the 5 year period of the loan.

Why should the government act like your nanny? You are an adult, so take some responsibility for your actions.

kittiej

OK so you took the hp out over 5 years but have only made 4 monthly payments?

Can you clear the arrears as they stand? if you bring your account up to date then they can't take the car back as well.

do you park your car on the road or private land? They will need a court order to repossess from private land. Many people had this problem with welcome who used to spout and try all kinds of rubbish.

See what NDL says;

"Also, even if you have not paid more than a third of the total amount payable under the agreement, the creditor will need an order from the court, or your consent, to remove the goods from ‘any premises’ they are on"

‘Any premises’ is not defined but includes your garage or drive. If your car is parked on the road (and you have not paid a third) then it is at risk of being ‘snatched back’. The law is not clear about the recovery of a car from a car park.

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=16_hire_purchase_debt

Have you been sent any notices or letters about the arrears?

lynz68

And why exactly should the government provide some sort of security?

The country is already broke without having to provide security for personal financial decisions made by individuals.