Financing car again help!!

Ashleigh7889

I currently have outstanding finance on my car the settlement figure is approx £9400, my car is worth £7000.

I would like to get rid of the car as it is not practical, and is a big expense on my finances.

I have seen a car that I am interested which is marked up at £4444, which I will obviously barter for less.

However I am not sure how I would go about getting rid of my car?

I still have 3.5 years left on my original finance, with my current car currently being in negative equity.

I would appreciate any advice please.

bodgerx

Ashleigh7889 wrote: »

I currently have outstanding finance on my car the settlement figure is approx £9400, my car is worth £7000.

I would like to get rid of the car as it is not practical, and is a big expense on my finances.

I have seen a car that I am interested which is marked up at £4444, which I will obviously barter for less.

However I am not sure how I would go about getting rid of my car?

I still have 3.5 years left on my original finance, with my current car currently being in negative equity.

I would appreciate any advice please.

Use wisebuyers site to get a private guide price and sell privately on Autotrader. Also use the Autotrader selling guide estimator that uses the actual adverts as a guide.

This is probably the best way to get the most value out of the car, assuming you have the luxury of a few weeks of time.

I would be looking at something cheaper than 4k if you still have negative equity to pay off after this deal. Maybe max 1.5k.

Another warning shot to anyone thinking about credit on a new car without a large chunk of cash down (greater than the first few years depreciation). If there is any possibility that you need to be out of the deal, you are in for a bag of hurt.

forgotmyname

Did the dealer offer you £7000 or is what you think its worth? All too many people come on here and say they cannot sell their car which they think is underpriced yet wont sell.

Usually its priced at or even above main dealer prices, Where buyers can get a car thats a year or 2 newer from private sellers.

By the time the interest and fees are added up your going to ower £7000 - £9000 for a £3000 car.