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Stuck with a car on finance
cmaj31
Posts: 49 Forumite
Hi,
I bought a car on finance a few years back and was happily paying it off and have paid over 2/3 of it off. However due to a large number of personal issues, I haven't made a payment for around 18 months. I'm now getting my life back together and am working on my debts. I now have a new job with a company car so I no longer need the car I have on finance. What options are available to pay it off, I know I can't sell it but has anyone had experience of voluntary repossession or any other methods?
There is still £6470 outstanding and it would take me at least another 3 to 4 years to pay this off before I could sell it.
Thanks
I bought a car on finance a few years back and was happily paying it off and have paid over 2/3 of it off. However due to a large number of personal issues, I haven't made a payment for around 18 months. I'm now getting my life back together and am working on my debts. I now have a new job with a company car so I no longer need the car I have on finance. What options are available to pay it off, I know I can't sell it but has anyone had experience of voluntary repossession or any other methods?
There is still £6470 outstanding and it would take me at least another 3 to 4 years to pay this off before I could sell it.
Thanks
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