Disposal of Late Father’s PCP Car

[Deleted User]

Don't forget, the debt is with the estate, you don't inherit the debt. If the estate is insolvent i.e. doesn't have the funds to pay it back, after funeral etc, then tough luck for the finance company - it is not your debt

AdrianC

Deleted_User said:

Don't forget, the debt is with the estate, you don't inherit the debt. If the estate is insolvent i.e. doesn't have the funds to pay it back, after funeral etc, then tough luck for the finance company - it is not your debt

We've already been told the estate does have the assets...

Not many estates would have a year-old £30k+ Volvo, and not have even £6k in other assets...

Flight3287462

Go to the island's community facebook page and find out if anyone is interested, you can then decide if that's a goer.  These folk tend to have to travel to Glasgow or Inverness to buy.  You might be pleasantly surprised.  If nothing else it will save you or the finance company what will be quite expensive transportation fees.

Herzlos

Hunyani_Flight_825 said:

Go to the island's community facebook page and find out if anyone is interested, you can then decide if that's a goer.  These folk tend to have to travel to Glasgow or Inverness to buy.  You might be pleasantly surprised.  If nothing else it will save you or the finance company what will be quite expensive transportation fees.

Very good point. Even if you sold it for the trade-in quote of £21k you'd be saving all the hassle of transporting the car and someone will be getting a bargain car at trade price.

The next best thing would be to arrange to sell it to a Volvo dealership, take it them and get them to settle the finance (with the estate paying the balance). If you return it to the finance company, it'll fetch less at auction and they'll deduct a lot more in fees.

It's unlikely, but it's worth looking at what the 50% mark on the finance is and if you're less than £6k away, pay up to that point and Voluntarily Terminate the finance which should allow you to return the car without penalty.

missile

I sold my Boxster to WBAC and was surprised to get more than Porsche dealer offered as a trade in.

macman

With 2 or maybe 3 years still to run, the chance of it being within £6k of the 50% are near zero, but it would help if the OP gives us the dates and figures just in case.

Herzlos

macman said:

With 2 or maybe 3 years still to run, the chance of it being within £6k of the 50% are near zero, but it would help if the OP gives us the dates and figures just in case.

There would certainly be more to put in to get to the 50% mark, depending on the size of the deposit. It may just be possible that the figure to get to 50% and VT is less than the figure needed to cover the shortfall between settlement and the cars value.

rhino_horn

have you tried motorway.co.uk?
loads of their cars are going well over book price at the mo so you may get a good offer