HELP! Fiat Punto Finance Owing & Failed MOT...

jenijellybean

Help urgently needed!

We have a Y reg Fiat Punto with some finance still owing. The tax is up at the end of this month and it has just failed its MOT due to several reasons and will cost in excess of £1,000 to repair to pass the MOT! :eek:

We don't think its worth paying so much as the car can't be worth much more than that, besides we have not got the money to do the repairs, and we can't sell due to the finance situation.

Can we scrap the car or get the finance company to take the car away? We do not have a drive to store the car off-road and the DVLA regularly check cars in our area and clamp and remove!!!

Any suggestions from my fellow MSE'rs would really be appreciated!!

Thank you x

espresso

You would get better replies if you stated exactly what it has failed on.

Who has said that it will cost in excess of £1000 to repair?

Have you had several quotes for the required work?

It is your problem and not the finance companies, so I can't see why they would tow it away for you!

jenijellybean

You would get better replies if you stated exactly what it has failed on.
Steering system excessively tight, power steering inoperative. Requires new steering column. 3 new tyres, damage to fuel cap.

Who has said that it will cost in excess of £1000 to repair?
Taken to 4 garages - quotes range from £790 to £1100

Have you had several quotes for the required work?
Yes

It is your problem and not the finance companies, so I can't see why they would tow it away for you!
I was only asking! I know its my problem...

espresso

Quotes seem excessive to me. Tyres are consumables that you could get anywhere at the lowest price, so it's basically a lot of money to sort out the power steering! Obviously if you decide to scrap it, you would still have to pay the finance company.

mattymoo

Is it defo the steering column and not the steering rack.
To clarify, rack is between the wheels and is a wearing item. You can buy fully reconditioned units quite easily.
Column is at right angles to rack and goes to steering wheel. Doesn't normally wear or suffer damage.

mr_accountant

Go to http://www.honestjohn.co.uk/forum/threads.htm?f=2 join up and post your problem there, i don’t think they’ll be happy with that quote, it seems very expensive to me. If you give an indication as to where you reside they may recommend a good garage too

Also post on http://www.fiatforum.com/forum

Dave_Brooker

jenijellybean wrote: »

Help urgently needed!

Can we scrap the car

Yes you can, once you've paid off the finance.

jenijellybean wrote: »

or get the finance company to take the car away?

Why would they do that?

Dave_Brooker

jenijellybean wrote: »

You would get better replies if you stated exactly what it has failed on.
Steering system excessively tight, power steering inoperative. Requires new steering column. 3 new tyres, damage to fuel cap.

Who has said that it will cost in excess of £1000 to repair?
Taken to 4 garages - quotes range from £790 to £1100

Clearly you have 2 options, pay £790 and end up with mended car, or pay off finance and sell car.

Is there much finance owing on the car?

Jamz

I'm sure with Hire Purchase agreements if you have paid over 50% of the finance there is an option to hand the car back, check your paper work

iwanttosave_2

Jamz wrote: »

I'm sure with Hire Purchase agreements if you have paid over 50% of the finance there is an option to hand the car back, check your paper work

I am sure its two thirds of the amount but you can do this, my father inlaw did it and my friend did it about 3 weeks ago.

Dave_Brooker

Jamz wrote: »

I'm sure with Hire Purchase agreements if you have paid over 50% of the finance there is an option to hand the car back, check your paper work

"The car must be in reasonable condidtion"

Bald tyres and no MOT might not help....