Car Loan

27col

Gaz83 wrote: »

If only things like this were well-known!

It's amazing how often these things crop up unexpectedly. Oh wait! They dont, do they?

forgotmyname

Is it cheaper to service the car and keep paying, Cutting costs elsewhere. Or park the car up off the road on private land with the owners permission and take the bus for a while whilst still paying for the car.

But if the service history is not upto date then you may have issues when you come to VT it.

pvt

Lurch1989 wrote: »

Afternoon all,

Just over a year ago I took out an HP agreement for a new car, the car was £10k. Dealer said I had a good deal on the interest, stupidly I didn't check and it turned out to be just shy of 15%. As it is I owe £11,700 on the car which is now worth £6500

Not sure I can follow how the loan to buy a £10,000 car could now stand at £11,700. I could understand how the outstanding amount may only have gone down a very small amount, but I cannot fathom how it can be above the original £10,000 you borrowed.

Have you missed some payments?

CLAPTON

pvt wrote: »

Not sure I can follow how the loan to buy a £10,000 car could now stand at £11,700. I could understand how the outstanding amount may only have gone down a very small amount, but I cannot fathom how it can be above the original £10,000 you borrowed.

Have you missed some payments?

the clue may be

The amount owing is still £11,800. The settlement figure is £9100
The car is worth around 6400.

Puddylove

27col wrote: »

It's amazing how often these things crop up unexpectedly. Oh wait! They dont, do they?

You've never owned a Peugeot, have you?

27col

Puddylove wrote: »

You've never owned a Peugeot, have you?

No, but I have owned several Citroens, including my present, new shape C4 Picasso. They have all been very reliable.