Using Mortgage to pay off car

2»

Replies

  • elantanelantan Forumite
    21K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Forumite
    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?
This discussion has been closed.
Latest MSE News and Guides

Check your Clubcard vouchers

Use our trick to extend them

MSE News

Preparing for summer

What MoneySaving things can you do now to get ready?

MSE Forum

Hot Diamonds 40% off code

Including already-reduced outlet stock

MSE Deals