We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Car finance - outstanding balance query
Options
Hi all
I am in the first process of buying a new car, however the trade in value means that I will be in negative equity and there will still be 2000 outstanding which would be transferred to the new loan on the new car. This has caused the new monthly repayments to be higher than I would like.
I am in the position to pay about 1000. However I am unsure if I should pay 1000 deposit for the car up front or pay 1000 to the current loan which means there would only be 1000 outstanding to be transferred to the new loan?
Any advice would be appreciated.
I am in the first process of buying a new car, however the trade in value means that I will be in negative equity and there will still be 2000 outstanding which would be transferred to the new loan on the new car. This has caused the new monthly repayments to be higher than I would like.
I am in the position to pay about 1000. However I am unsure if I should pay 1000 deposit for the car up front or pay 1000 to the current loan which means there would only be 1000 outstanding to be transferred to the new loan?
Any advice would be appreciated.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards