My car has died & I still owe on finance

Dean2712

Hi...I took out an Advantage Car Loan in January '13 for 54 months. I pay £158 a month, which was fine until my car suffered major problems which I've been quoted by dealership £2000 to put right. I don't have this money and at the moment don't have a car and need advice of how to approach Finance Company. The car has sat on my drive for 6 weeks and Is undrivable. Does anyone know whether they'd accept a suggestion for me to reschedule agreement by buying another car and selling my existing car for parts. I'd need to borrow a little more from them but start new agreement for a further 54 months. Any advice would be greatly appreciated..

atrixblue.-MFR-.

Dean2712 wrote: »

Hi...I took out an Advantage Car Loan in January '13 for 54 months. I pay £158 a month, which was fine until my car suffered major problems which I've been quoted by dealership £2000 to put right. I don't have this money and at the moment don't have a car and need advice of how to approach Finance Company. The car has sat on my drive for 6 weeks and Is undrivable. Does anyone know whether they'd accept a suggestion for me to reschedule agreement by buying another car and selling my existing car for parts. I'd need to borrow a little more from them but start new agreement for a further 54 months. Any advice would be greatly appreciated..

What car is it what year is and model and description of fault and what you've been told the fault is.
main dealer work is almost double what an indi workshop will quote!.

Dean2712

Mazda RX8 2005. Mazda say needs new cat & new starting coils & leads. I do have a written quote from Mazda which has got an itemised list of things that need doing. An option is to use this list to source the items myself and arrange for a non dealer to fit & fix??

atrixblue.-MFR-.

Dean2712 wrote: »

Mazda RX8 2005. Mazda say needs new cat & new starting coils & leads. I do have a written quote from Mazda which has got an itemised list of things that need doing. An option is to use this list to source the items myself and arrange for a non dealer to fit & fix??

OK they are solid electronic coils.
eurocarparts sell these for about £45.00 inc vat each do check they have stock sometimes the run out and more is on order. check local motorfactors for stock also and price http://www.eurocarparts.com/ecp/c/Mazda_RX8_1.3_2005/p/car-parts/car-body-parts-and-car-exhaust/exhausts/catalytic-converter/?724680060&1&bf11c26ab59323e0783d51bf9719f57a71241e92&000059 . cat is less than £200 at the moment on promo online only! I would snatch that offer TBH.


labor to change upto 2 hours so I would go to your local indi garage, I reckon youd get change from £400-£500 to fix this issue if you replace the coil pack that is faulty, mazda will suggest you fit all new, I say what don't need fixing you don't need to replace.
mazda will list lots of things that need doing its called hunting for work half of those item wont even need to be changed.


the rx8 is known to suffer coil pack failure. which knocks out the cat and can also knock an engine. I'd get it running, and see what the damage is if it needs more work then as long as it is running you could part ex it if nothing else is damaged then theres no need to panic and keep running it and hope it serves till the end of you loan..


post up the list ill take a look at what they have scared you with! ill give an opinion on what I think.


re posted link to the cat converter.

Dean2712

That's great news...I'll certainly look into that tomorrow. Thank you for your advice...

maxmycardagain

4 x coil pack with leads £45, cat £165, easy to fit DIY or speak to Mr Tyre

avoid main "stealers" when you can

atrixblue.-MFR-.

Dean2712 wrote: »

That's great news...I'll certainly look into that tomorrow. Thank you for your advice...

take another look at the link I posted as the one I originally put up went onto the oils page for some unknown reason, reposted the link and it shows the pic and price and TBH I would snatch that price up as I checked with my BIL who works in a motor factors he just informed me that a fuel parts brand will cost £700 and a cheapy will cost £260 plus vat! so snap up that offer while it still there TBH.


just double checked yes there are leads I apologize, but would hold off on these until the coil packs are changed they maybe fine. the indi garage would better to inform you if they need replacing but a repair on a budget I would hold off until they are essential.

jaydeeuk1

Coils, leads and plugs (get them done too - although awkward to get to, via wheel arch) can be done by yourself.

If you're near someone with a rotary engine compression tester ask them if they'll do a test - you didn't mention if mazda did one, and if its on the original engine, the 2003-2005 models are the ones with the highest failures. Beware of the cheap cats, most owners forums report them lasting 12 months

BTW, you're paying nearly £9000 for a £3000 car :eek::eek::eek::eek:

Smi1er

As others have said you'll be able to get it fixed for less than £1K.


However, lessons to ne learnt...

• Don't take a 9 year old RX8 to a main dealer. It will be expensive. Very expensive.
• Try not to buy 7.5 year old cars on a HP agreement lasting 4.5 years because it means at the end of the agreement that you have paid off all the loan, but now own a 12 year old car

dgtazzman

£3000? There's actually quite a selection of these on Autotrader for under £1500. I'm sorry, but you must have been out of your mind taking a 4.5 year HP agreement out on an 8-year-old car, pure madness.

Hope you manage to get it running again for a decent price.

I would forget about flipping it out for a new car with the finance company's help, you still owe over 5 grand in payments on a car that is probably only going to achieve a fraction of this price. If I was the finance company, I wouldn't be touching it with a barge pole.

19lottie82

Hi OP I'm sorry this prob isn't what you want to hear but RX8s are one of the most unreliable cars around. My DH is a mechanic and my DF bought a second hand one a year ago despite constant warnings not to. It has been nothing but trouble ever since.

If I were you of get this problem fixed by a local mechanic and then cut your losses and get rid of the car. Honestly, it will be nothing but grief and expense if you keep it.