Seeking Advice on a Vehicle I am in Debt for....

Choby1988

I purchased an electric vehicle in December 2023, for which I took out a £9,000 loan.

Unfortunately, a few weeks ago, the car broke down and has since been inspected by multiple mechanics, including the manufacturer, Renault. Both independent mechanics who examined the vehicle before Renault stated that the issue should not have occurred on a car with only 30,000 miles and suggested Renault should offer some form of goodwill assistance.

However, Renault has informed me that, as the vehicle is out of warranty, they cannot provide any support. They’ve quoted £5,000 for the necessary repairs.

Given this situation, I plan to sell the vehicle as-is, but it’s clear that the sale will not cover the £9,000 loan I originally took out.

My question is: What are my options regarding the loan now that I no longer have a functional vehicle? Considering the mechanics’ opinions that the issue should not have occurred, is there any recourse available to me, or am I stuck with the full repayment of the loan?

sourcrates

Just becomes another unsecured, non priority debt that is bottom of the list for payment.

What`s wrong with the car, not much to go wrong with a Duracell car, let me guess battery is kaput???

EssexHebridean

I assume you didn’t by any chance pay a deposit on a credit card, did you?

molerat

Is the loan directly connected with the vehicle as finance or is it a personal loan ?

What exactly is the problem with the vehicle ?  At that price battery dead ?

What age is the car ?

Have you sought a third party fix outside the dealer network ?

Choby1988

Regarding whats wrong with the vehicle, yes the Batter is dead. it's a 2019 vehicle, only 30,000 miles it's a personal loan, not finance.

I sought third party prior to going through renault. No deposit on CC> 

born_again

Choby1988 said:

Regarding whats wrong with the vehicle, yes the Batter is dead. it's a 2019 vehicle, only 30,000 miles it's a personal loan, not finance.

I sought third party prior to going through renault. No deposit on CC> 

TRied any HEVRA dealers?

They are usually good at fixing battery issues, as they have a good database of issues & fixes.

Keep_pedalling

I would have thought the traction battery would still be within warrantee. Most EVs come with an 8-10 year warranty, new Renault’s have an 8 year / 100,000 mile one, and I believe the original Zoe’s did as well. 

EssexHebridean

Do Renault warranties still pass to new owners with the car? I know they used to, so with luck they still do and this could be an angle for the OP to explore.