Getting out of Peugeot passport finance agreement

Hunny55

Any advice gratefully received!

Daughter is emigrating in January.

Has a Peugeot through a Passport agreement.

Peugeot settlement figure is £8250 (to buy car outright)

or hand over £2364 plus the car and walk away.

She cannot afford either option and old faither here looks as if he is taking a hit of about £2000 minimum.

Any advice on how to minimise this hit? :mad:

straighttalker

How much is the car worth on the market? Perhaps more than Peugeot are valuing it at if they take it back? Why not try selling it or offering it to other dealers if it's relatively new. Pay off the finance with the proceeds of sale and maybe the negative equity could be reduced too?

Hunny55

Thanks.

We buy any car offered £6250/used dealer max is £6500

Forecourt price is about £8800.

Trying to sell privately around £7000 but given the time of year.........

motorguy

Hunny55 wrote: »

Thanks.

We buy any car offered £6250/used dealer max is £6500

Forecourt price is about £8800.

Trying to sell privately around £7000 but given the time of year.........

Try a few dealers is the most likely option then.

No easy answer.

worried_jim

If she is emigrating and not coming back- just send the car back- they'll trash her credit for 6 years but if she is in Australia- who cares!

Strider590

Hunny55 wrote: »

Any advice gratefully received!

Daughter is emigrating in January.

Has a Peugeot through a Passport agreement.

Peugeot settlement figure is £8250 (to buy car outright)

or hand over £2364 plus the car and walk away.

She cannot afford either option and old faither here looks as if he is taking a hit of about £2000 minimum.

Any advice on how to minimise this hit? :mad:

This is what these deals are all about, they tie you into having a new one every few years, because usually you take a deal that you can JUST about afford, you can't save any money for the lump sum and have no choice at the end.

Slaves to a system of debt....