Car on finance, can't pay it

ratrace

Unfortunately the kids of today are part of the social media craze, posting their "perfect lives" and just getting into debt just to keep up and buying things just because its not on tread after being suckerd in by the pintrest posts

I think parents need to lead by example also, the reason im very carefull with money is seeing my parents being very disciplined with what they had for example my dad has always paid cash for his cars, his most expensive car in his whole life which again he paid cash for cost £3,000 and he sill has it after 4 years, hes never had a loan or a credit card only a mortgage which has been paid off 10 years ago

hes retired now after working for 45 years and lives of his pension and the rental income he gets from his other houses

the point im making is kids need positive role models at home first, yes the schools could do more with introducing subjects about finances but ultimately its the parents responsibility first and first and foremost

John_G_Jones

I think that people are avoiding the big issue here.

OP, credit agreements in the UK generally say “you will pay X, on these dates, unless you spent the money on other things, had one of life’s normal events, or have just had enough of paying money out long after the thrill of a shiny new care wore off.”

It tends to be in small print, but will definitely be there, so highlight it, send it back, and drive away happy that you are in the right.

Houndog6105

I was in a very similar situation as you not too long ago. Firstly I'd get a settlement figure from the finance company
I ended up calling the finance company and explaining my situation and they agreed to reduce the settlement figure by 2.5k ( explain that it's medical reasons why you can't work anymore)
I then sold the car and had to top up 1k myself and then I just paid the finance company the remaining balance