Personal car finance

jackie_trackie123

Hi
I'm currently £450 a month for my car that I use for work to see clients. ATM the car is sat in the drive. I called Audi to see if they can offer a payment holiday and they said they cant. Do I continue to pay as it's quite a lot money ir is there something I can do?
Thanks

eskbanker

What do the Ts & Cs of your agreement say about your obligations to make monthly payments and what happens if you fail to do so?  Do you have any early termination rights to hand the car back?  Or will you be receiving any income on an 80% or other basis that would allow you to continue with payments?

Fireflyaway

How long have you had the car? A few years back I found myself in a similar situation and because I had paid half the agreement I voluntarily handed back the car. I did without a car for a while and then bought a cheaper one. Other than that, check your agreement. If you really can't pay you might just have to face the consequences. Look after yourself first. Food, shelter etc then if you can't afford the car you will have to find another way. Public transport or save and get an old banger! Don't put your housing or health at risk for the sake of a car.

Alex.T

Crazy that Audi wont offer a payment holiday. I've been allowed one for 2-3 months from Nissan (RCI Finance)

D3xt3r5L4b

It's down to each lender what they do and don't offer.

PaulW922

If it is true 'Hire Purchase' and you decide to hand the car back having paid half the amount due, remember, that this half includes any initial deposit *if* it is shown on the credit agreement. I make the point as sometimes people do not realise this and this is means 'half way through the term'.