Car finance options

XEO25

Hi,

I took out car finance via Advantage Finance last year but have since had a baby and require a more family friendly vehicle.

The total finance agreed was approx £8k spread over 4 years. It's been a year now and I've paid the first 2k off.

Can anyone please advise what my options might be to buy a new car worth approx 5k and get rid of my current car (which still has 6k owing on it).

Getting credit with anyone other than the likes of Advantage Finance isn't an option unfortunately.

Thanks

flashg67

Unless your car is worth enough to pay off the finance, I think you'' struggle.

They may let you roll up any shortfall into the loan for the new car, but this will mean you paying more for a car that's worth less!

XEO25

flashg67 wrote: »

Unless your car is worth enough to pay off the finance, I think you'' struggle.

They may let you roll up any shortfall into the loan for the new car, but this will mean you paying more for a car that's worth less!

Ah, I thought that might be the case. It's probably not worth refinancing.

Thanks