Using Mortgage to pay off car



  • elantanelantan Forumite
    21K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I also should note we had no fees or anything to pay ... For us it was a NO brainer ... But you HAVE to make it work and be strict :)
  • Thanks guys.

    Some really useful responses here. The car cannot be sold on PCP until the full term is up. Obviously, this would be completely ideal 👍🏻 However, not possible. I'd thought it would mess with the LTV.

    Hmmmm. Appear to be locked in. Replacing the car isn't an issue. That's already sorted. No extra money required.

    I shall have to keep looking for other options.

    Thanks guys!
  • I would ring up Audi Financial Services and ask for the balance as if you were to pay it off now.

    Then I'd take out a loan for that amount and buy the car outright and then sell it.
    Pay off the loan and then you will have whatever is left over to pay a sum off against the mortgage if you so wanted to.

    Though I don't know if they charge you for paying off a loan early but surely that would work out better would it not?
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