Van repairs worth more than it is worth - and it's still on finance

Hells_Bells7

I have a van which I no longer require and intended selling.  However, it has failed it's MOT and the cost of the repairs come to more than the value of the vehicle, and there is still around £800 owing on finance.  The idea of scrapping it was a consideration, but do I have any alteranatives given that I still owe repayments on it?  Any advice gratefully accepted.

Grumpy_chap

Hells_Bells7 said:

I have a van which I no longer require and intended selling.  However, it has failed it's MOT and the cost of the repairs come to more than the value of the vehicle, and there is still around £800 owing on finance.  The idea of scrapping it was a consideration, but do I have any alteranatives given that I still owe repayments on it?  Any advice gratefully accepted.

What is the value of the van with MOT?
What is the cost of repair?
What do you get as scrap in current condition?

Hells_Bells7

Value of the van with MOT likely to be quite low - I am guessing £1200 if I am lucky.  Cost of repair £1200 - £1800.  Not sure what I would get to scrap it.  I guess that needs to be my next task is to find out but probably a couple of hundred?

Hells_Bells7

And as I mentioned - I still have £800 outstanding on finance :-(

dinosaur66

are you allowed to scrap a van on finance ?

i would guess the van belongs to the finance company until all paid off

but thats just my best guess not been in this situaution

a traffic/transit size van get about £300 scrap / we buy any car/van i think buys failed mot vans /

Hells_Bells7

Thanks - no I would need to settle the finance first, then scrap or similar.  I have looked at We Buy Any Van, and similar organisations so that may be my way forward.  Many thanks for your thoughts :-)