Help Car Finance

Pcgcdale4

Please could anyone help me, we have a car on finance which has 10mths left @£170.65 a month, the car is mot'd but the engine is very poorly and would need replacing however the cost to replace the engine and fix a scratch up the side would cost more than the car is worth! the settlement figure is £1663.00 but the car is not worth the finance on the car. So the car is not worth fixing or worth the settlement figure. Having spoken to Billing finance they suggested a Voluntary termination but they could charge us to fix the car regardless of what the finance is, so we could end up worse than we were before?
we have had to go get a new car already due to work commitments. My question is really what can we do? ideally we could do with out paying the rest of the finance as we have had to finance the new car also.
Thank you to anyone for any help.


Ps the insurance will not cover the engine and having spoken to people already I'm afraid to try and write the car off under insurance for the scratch in case they try and say we are doing something wrong, not only that the claim would effect our new insurance and the 20+ years ncd we have.

Mercdriver

I doubt any insurance company will write a car off because of a scratch.

Pcgcdale4

It's an £1100.00 scratch so more of a Big Bang kinda where I had a disagreement with a wall!!!!

tykesi

So why call it a scratch and give people the wrong impression of the extent of the damage?

bigjl

Do the trolls ever take a month off from the is forum?