In the worst possible situation

aj3001

can't use eBay, and to do similar to is classed as keyword spamming and the auctions can get ended

Also reserves cost 2%, on £10k thats £200 which I can't afford!

Badger_Lady

Good point ;-)

rayday2

If you have not had the car long you won't be able to privately sell it really, garages charge more than cars are worth, finance adds to the costs and you can't sell a car and leave finance on it.

Your options really are limited to handing it to finance company or taking any job just to pay the car payments.

aj3001

I am trying to get "any job" but have had no luck as of yet

floss2

Sorry to hear your news.
As Rayday suggests, get a job in a bar - you will get minimum wage plus any tips.

You should maybe consider selling the car and buying a cheap ECONOMICAL runabout & then even if you still owe some money after paying the finance company back, at least its not £10k for a gas-guzzler.

Would it matter who would see the ad? Or do you mean potential buyers?
Autotrader is national via their website.......is that a big enough catchment area?

rog2

aj3001 wrote: »

Thank you for the replies, I don't know what to do over the car, if I was to give it back to the HP company, they would sell it at auction and I will still be liable for any short fall.
Dealership won't have it back either.
Other problem, its a Dodge Caliber, I would put it in autotrader/auto exchange but I don't know how many people would see the ad for such a specialist/unknown car.

If your HP agreement is a 'regulated' agreement, i.e. under £25k, and you have already paid 50% of the balance (figure may not be totally accurate as am going from memory) you have the legal right to return the car to the finance company.
Legally you do NOT own the car if it is on HP, and can not sell it without the permission of the finance company. You could be liable for any shortfall between selling price and amount owed.
You can look on the internet, to find out the various 'owner clubs' where you would probably have more chance of getting a realistic price for a specialist car.

mrcow

aj3001 wrote: »

Also reserves cost 2%, on £10k thats £200 which I can't afford!

Well it's £86 cheaper than the £286 bill that is going to land on your door this month in loan repayments :rolleyes:

If you can't use an Ebay account, why don't you get one of your parents to sell the car on your behalf?

In the meantime, you need to throw everything you have at getting a job immediately. It's not hard if you are not fussy and you need to start earning some money now to pay off your credit cards debts.

supersavershal

I thouroughly agree.I have always driven old cars.When I see someone who earns the same as me driving a flash car instead of being impressed I imagine a big debt sign hanging over their heads and I feel better with my old car.A car is for getting from a to b, it doesnt make you a better person.

Badger_Lady

aj3001 wrote:

I am trying to get "any job" but have had no luck as of yet

My ex-OH said he couldn't find a job for 16 months... I finally stopped paying our rent and moved in with my parents, and he got 3 job offers within a fortnight.

I'm sure you really are trying your best, but I'm also sure that if you're genuine about getting a McJob to pay the bills, you won't be on the market for long! So maybe this whole conversation is only based on theory

I guess the one advantage to these little set-backs (which we all go through), it makes you think a bit harder about your spending patterns, and places you at an advantage in future years.

Gemmzie

How the heck did you get a car loan for 10K at 18 :eek:

Anyway I agree with what Rog said, and since you're still 18 you probably haven't paid 50% yet.

Unless you get a well paid job very quickly, you are going to end up defaulting on the loan which is going to have more long term repercussions.

Can't your parents lend you £200 so you can sell the car?