Black Horse Hire Purchase

ChadClifton

Hi all,

First post, so be nice!

I brought a car back at the end of Feb this year. I went with Black Horse and I am paying £318 a month. I have been offered a job in the Cayman Islands and am leaving the country for a long time at the end of the month. I phoned Black Horse to see what I can do ( Settlement figure is £13,388.47 ) and they said that I could give them the car back if I paid £8800!!! Obviously I fell off my seat when I heard this, there is no way I have got anywhere near this amount of money to give to someone to have my car! So I tried to sell it thinking that I would take a hit for a couple of grand and learn from the experience, but unfortunitly I can not get enough money from the dealer or from private sale, so I am stuck! My question is, what are my options? I just want rid of the car which is lovely and all but I wont be around to use it! As I am going abroad for a few years, does this give me more options on what I can do, whether it effects my credit history or not!

Thank You

funky1471

You could sell the car, get the money off it and keep it. When working abroad continue to make the £318 a month payment on the car and save as much from your job as possible. Then pay the settlement figure when you can afford it.

Out of interest what car is it and how much could you get for it?

nomoneytoday

funky1471 wrote: »

You could sell the car, get the money off it and keep it. When working abroad continue to make the £318 a month payment on the car and save as much from your job as possible. Then pay the settlement figure when you can afford it.

You can't do that. The car cannot legally be sold with outstanding finance without agreement of the HP company, as they own the car, not you.

funky1471

nomoneytoday wrote: »

You can't do that. The car cannot legally be sold with outstanding finance without agreement of the HP company, as they own the car, not you.

Oh dear didnt notice that, sorry I only had a very quick read as I was in a rush. I think these are the sort of thing that the company can not be held responsible for in any way, that IS the price it will cost and they don't have an obligation to accomdate people leaving the country etc, I think you will have to keep making the payments or pay the settlement figure!