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Car finance

jinty28
jinty28 Posts: 2 Newbie
First Post First Anniversary
in Loans
I have 10 months to pay on a car loan but the engine has blown. Can I hand the car back?

Comments

  • Keep_pedalling
    Keep_pedalling Posts: 21,610 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    Handing back a knackered car won’t clear the finance. What sort of finance is it?
  • jinty28
    jinty28 Posts: 2 Newbie
    First Post First Anniversary
    The finance is with Black Horse. Does this help?
  • fatbelly
    fatbelly Posts: 23,279 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    Is it just a loan? In that case, it's your car and your problem
  • Cit6
    Cit6 Posts: 34 Forumite
    10 Posts
    Is it a personal loan? If so no. 
    Out of interest, what makes you think you can hand the car back and stop payments?
  • Ayr_Rage
    Ayr_Rage Posts: 3,153 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    jinty28 said:
    The finance is with Black Horse. Does this help?
    Not really.

    You need to say what type of finance contract you have, PCP, HP, etc and how long is the contract.

    If the car has failed due to a pre-existing or inherent fault you may have so comeback, what is the failure?

    What is the make and model, how old and what mileage?
  • Edi81
    Edi81 Posts: 1,506 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Maybe..find the agreement and see what 50% of the total amount payable is.  You may be able to voluntary terminate. 
  • Ayr_Rage
    Ayr_Rage Posts: 3,153 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    Edi81 said:
    Maybe..find the agreement and see what 50% of the total amount payable is.  You may be able to voluntary terminate. 
    Not if it has a blown engine!

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