Car finance help please

mbarth

Hi looking for some advice!

We took a brand new Chrysler grand voyager in July last year(@£36k) we put £10k deposit down & rest went on finance (black horse) we are 11 mths into a 48mth agreement but would like to get out of the agreement. What I was wondering was, can we sell the car back to garage & settle any difference, is it worth doing that?? Car is in perfect order, and average mileage. Or are there any other options out there??

As a side note, wouldn't mind some advice here to, the car has actually spent past 6 wks in garage having developed a tech fault so also paying for it when we don't have it. An alternative car has been given to replace it. Husband thinks we should make a complaint to finance about it as we are paying for something we've not got. Can't go anywhere (school holidays started) as although 7 seater not big enough for4 kids plus large dog (plus is a no let clause on hire car which is nightmare & have to break tomorrow as dog has to go to vet!) do we have any rights on this matter??

Many thanks

arcon5

Phone the finance company to find a settlement figure.

If you think the fault is outside the scope of reasonable wear and tear and hasn't been damaged by the users then complain to the dealership first and see if they offer anything.

A new £36k car now nearly a year old will have depreciated significantly in this first year... so it's hard to say what the most money saving option would be to be honest. (Although £36k for a car sounds crazy to me )

mbarth

The fault is definetly outside usual wear & tear - it is a blind spot sensor!! The car has been in once to find fault, a second time to fix fault, but wasn't fixed correctly & they requested it back for a week to solve issue, 6 wks later & parts still on back order & car is sitting in pieces at the garage awaiting "module"!

If the finance give me a settlement figure do I then get a price from garage to see what they will buy it back for & can this be any garage?

Totally agree it is a silly amount of money for a car & frankly is a huge regret, yes it is lovely & spacious & plenty room for kids & dogs etc, but is not economical for my use & feels like a big weight round my neck

harveybobbles

Best way of getting most for it is selling privatly and use funds to pay off/towards finance.. Or get buyer to pay BH direct.

No one will buy it off you while its in pieces though..

Settlement figure guestimate:

http://www.financecalcs.co.uk/Calcs/Settlement.php

atrixblue.-MFR-.

mbarth wrote: »

The fault is definetly outside usual wear & tear - it is a blind spot sensor!! The car has been in once to find fault, a second time to fix fault, but wasn't fixed correctly & they requested it back for a week to solve issue, 6 wks later & parts still on back order & car is sitting in pieces at the garage awaiting "module"!

If the finance give me a settlement figure do I then get a price from garage to see what they will buy it back for & can this be any garage?

Totally agree it is a silly amount of money for a car & frankly is a huge regret, yes it is lovely & spacious & plenty room for kids & dogs etc, but is not economical for my use & feels like a big weight round my neck

I would wait the garage will almost try and get the bottom book for it as its sat in bits in the back and will treat it as a broken vehicle to price up for you.


time to visit the garages manager, and start being firm.


then when its raired take it to another jeep dealership to price up and get get them to buy it.

mbarth

Ha ha nope no one is going to want it while it's in pieces clearly! I will wait till it is in full working order before approaching anyone about it . Thank you for the link will have a look at it I didn't think it was legal to sell a car privately with finance?

mbarth

Definetly won't be dealing with the dealership it is in just now, AC they were not the best to buy from so can imagine they won't be much better to try selling to! Thank you

arcon5

Technically the car doesn't belong to you so legalities are grey.
But its done all the time and if finance is paid off then comes to nothing. Certainly breach of contract though.
Finding a buyer willing to give over large sums of cash for a car with outstanding finance is another matter

AdrianC

There's no way you'd be able to SOGA reject a car for a parking sensor fault, especially where the delay is due to part unavailability rather than unwillingness to fix, so whether you can get out of the finance contract early is going to be down to the small print you agreed to when you signed the contract.

arcon5

Op mentioned nothing about rejecting the car under SOGA.

I see nobody else does either.

harveybobbles

arcon5 wrote: »

Technically the car doesn't belong to you so legalities are grey.
But its done all the time and if finance is paid off then comes to nothing. Certainly breach of contract though.
Finding a buyer willing to give over large sums of cash for a car with outstanding finance is another matter

Which is why I suggested the buyer could contact/pay the finance company durect to pay off any balance. Although on a car which will probably still retail at about 22k it might be hard..