Car on finance, Changing keeper

forgotmyname

Sell everything you own to pay it off?

over 4 years left so you have had the car less than a year? Seems that going to Uni maybe a poor choice at present.

The option is pay it or get your credit history trashed. And if you need to rent a property a trashed credit file may not go down well.

Spicy_McHaggis

Emjv_01 wrote: »

Hello!

I'm having trouble with my car finance! I'm due to move away to Univeristy in September, However I have a car finance ongoing. My mum said she could carrying on paying the finance IF the payments were lower! The finance company said I have £11,230 settlement figure on the car, I have just over 4yrs left. The negative equity i am assuming is around £3000/4000!!! Because I will be moving away I don't need the car nor will I be able to afford it. What do people suggest the best route to go down is?!


Please please PLEASE can somebody help!!!

Get your mother to borrow £11,230 over a period of time she can afford the monthly payments. Then pay off the finance company.

Are you sure uni is the right choice for you?

forgotmyname

Car_54 wrote: »

Would they know?

Sometimes they get notified by the DVLA and sometimes they will check randomly.

If they do will you have the funds to pay the entire sum in one go?

jimjames

bigg13st wrote: »

The insurance quotes seem to rocket if she isn't the registered keeper and main driver.

She does not have any credit, hence me getting the car in my name

She can be the main driver without being the keeper