Car Loan Options

Jredapple

Here's my problem - not a bad one but I need some advise. My partner and I are moving to Spain next year. Not for the sun - she's Spanish and wants to go home. But earlier this year, I brought a new car on finance. Currently there is just over £10,000 to pay off. The car is worth around £8,300 according to the guides so the loan is currently more than the value of the car. I dont want to take the car with me because Spanish wages arent that high and I dont want to have an expensive car loan to pay off and although its the only debt I have I dont have enough savings to pay it off.

I cant sell it as, technically, its not mine to sell and no-one wants a car with outstanding finance.

The only options I can see are - do a 'voluntay surrender of the car' - which I know is a last resort. I wonder though how this would affect my credit rating for when I am in Spain as I know that this would not look good on my UK credit rating.

Alternatively, to pay off the differance between the value and the loan on my credit card and then sell the car to someone willing to take a car which will have a record saying there is outstanding finance - but will be paid off with their payment!

Does anyone have any other options/advise they can give?

Are there any other options that people can advise before I speak to the loan company?

System

if the car is on hp [hire purchase] you can surrender it but i believe you have to pay approx half of the loan off, i think it is illeagal to sell it with an outstanding balance as it is not actually yours untill the loan is settled.