Car on finance - repairs

AdrianC

"Full service history" is a very flexible phrase. It might just mean that there's a full history of all the servcing the car's ever had. By buying the car, he accepted that he was happy with that situation. It's not like he hadn't seen it before purchase.

So we're talking about an 8yo 100k car, with no record of a belt change? Official interval for a 2008 1.8TDCi (different engine to 1.6TDCi) is 10yr/125k - so it was just within schedule. Whether it's wise to let it go to the full schedule is another question entirely. With intervals that extended, it's a gamble...

anotherlightbulb

Basically, he has been well and truly rinsed, which is his own fault for thinking he could go off and do it without our advice...... the insurance was also an horrendous amount.


That said, can't keep going on about it, its a very expensive lesson learnt - just need to know if there is a way to come out of this without being £3k down on repairs plus £3K+ on finance for a pile of !!!!!/no working car at all.....

anotherlightbulb

AdrianC wrote: »

"Full service history" is a very flexible phrase. It might just mean that there's a full history of all the servcing the car's ever had. By buying the car, he accepted that he was happy with that situation. It's not like he hadn't seen it before purchase.

So we're talking about an 8yo 100k car, with no record of a belt change? Official interval for a 2008 1.8TDCi (different engine to 1.6TDCi) is 10yr/125k - so it was just within schedule. Whether it's wise to let it go to the full schedule is another question entirely. With intervals that extended, it's a gamble...

Indeed, and if he had said what he was up to, I would have advised accordingly although I have limited car knowledge, I could have paid for the RAC to check it out.:mad:

AdrianC

anotherlightbulb wrote: »

That said, can't keep going on about it, its a very expensive lesson learnt - just need to know if there is a way to come out of this without being £3k down on repairs plus £3K+ on finance for a pile of !!!!!/no working car at all.....

Like I said earlier - start negotiating with the garage around the difference between scrap value (couple of hundred quid) and healthy trade-in value. In good condition, maybe £1,500-worth.

anotherlightbulb

AdrianC wrote: »

Like I said earlier - start negotiating with the garage around the difference between scrap value (couple of hundred quid) and healthy trade-in value. In good condition, maybe £1,500-worth.

I'm not sure whether it would be more financially beneficial to get it running, get half way through the finance and for him to ask the finance company to take it back, as there will still be 18 months x £116 owing which is over £2K. Does doing this affect your credit rating? Or can they refuse to take it back because of all the mechanical problems?

AdrianC

If you pay it off now, you're not still accruing interest at 25% APR, so the total due will be a big chunk less.

Is it car finance (PCP, lease) or is it - as I suspect - a personal loan secured on the car? If so, then 50%-paid VT doesn't apply.

anotherlightbulb

AdrianC wrote: »

If you pay it off now, you're not still accruing interest at 25% APR, so the total due will be a big chunk less.

Is it car finance (PCP, lease) or is it - as I suspect - a personal loan secured on the car? If so, then 50%-paid VT doesn't apply.

I will need to get my son to find the agreement from the finance company, as I am not sure what type of loan it is.

AndyMc.....

anotherlightbulb wrote: »

I am not sure whether we would have any comeback from where the car was purchased - it was sold with a "full service history" which in reality was a couple of bits of paper showing two services, no cam belt change mentioned - the mechanic at the current garage showed me the old cambelt and it was smooth in places.

Cambelt it a consumable part, if was within fords recommended mileage and age for a change I don't see why there'd be any comeback on that garage who sold it.