HPI car selling advice

stanley123

Dear all,

I have a Hyunday Coupe 2.7 05 car that I would like to get rid of because my circumstances have changed (my wife is expecting) and I have been to the local dealers to try to sell it.

Basically I have £11000 owing on HPI and the car is worth about £10,000. I have the difference which I can pay but because of the drive for people to buy smaller cars most dealers do not want to take it off my hands unless they have a buyer.

Ideally I would pay off the £11,000 and sell it for about £9500 for a quick sale but don't have that sort of figure but really want to get rid of the car asap to save money on the repayments. Do you all think it is worth giving the car back after reaching the 50% payment or does that effect my credit rating?

I have been offered £8,500 by one dealer and might take this offer but if giving the car back to the finance company does not effect my credit rating is this a better option (I can afford to pay the £2500 difference) and would be cheaper. I believe I have 2 months to reach the 50% milestone.

Thanks

Stanley