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Car finance options
My mum had a stroke and can no longer drive. It is on finance and my dad arranged for the garage to buy it back. Then corona struck and they withdrew their offer. Finally today I have clarified that they either return the car and end the finance agreement without paying the final lump sum (leaving them £2000 out of pocket based on value oer corona) or pay it off and wait until the secondhand car market reopens. Does anyone have any suggestions as to which is the better option or if an alternative option is available ? Thanks
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Comments
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I guess no-one knows how long the market will suffer for, but if they're also paying a monthly payment, this might need to be factored in to your calculations. Unless you, or another family member wants the car , even short term, and pays them to use it, then it might be better to cut losses now1
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As above.
First cut is the cheapest (and removes the headache and worry which is worth a lot)1 -
You mean the standard end-of-PCP options?
Hand the car back...
or
Pay the balloon and buy the car...
Do you want to keep the car?
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