Car...what do I do?...any advice

SpaceCadet12

this is stressing me our massively and hope you amazing lot will have some advice.

So Im on a DMP, been so for 6 months - all going well.

My car is on ford options, its not included in my DMP - the PCP Options expires in April so I am at a loss what to do?  I can give it back there are a few dents and knocks so i am sure they will change me, i can get more finance to finish off the payment (will need to speak to DMP???) if I get shut of my car ive looked at some leasing which is actually cheaper than I am paying now.  

I need a car for work and for general life so not having one is not an option.  has anyone been in this predicament....what did you do?

My husband and i pay 50/50 for the car but its in my name x

ManyWays

Who is the DMP with?

Can your husband take out a loan to pay the balloon payment?

You may find it difficult to be accepted for a car lease because of your credit record.

have you had previous cars on finance? If you have, have you heard of car commission refunds? This MSE tool is free and lets you start a claim, there is a chance you may get back some money towards the end of this year. https://www.moneysavingexpert.com/reclaim/reclaim-car-finance/

fatbelly

SpaceCadet12 said:

this is stressing me our massively and hope you amazing lot will have some advice.

So Im on a DMP, been so for 6 months - all going well.

My car is on ford options, its not included in my DMP - the PCP Options expires in April so I am at a loss what to do?  I can give it back there are a few dents and knocks so i am sure they will change me, i can get more finance to finish off the payment (will need to speak to DMP???) if I get shut of my car ive looked at some leasing which is actually cheaper than I am paying now.  

I need a car for work and for general life so not having one is not an option.  has anyone been in this predicament....what did you do?

My husband and i pay 50/50 for the car but its in my name x

This might be more of a question for the motoring board

Have a look at option 3

https://www.thecarexpert.co.uk/options-the-end-of-your-pcp/

Bear in mind that it may be more cost-effective for you to get the dents and knocks fixed - a SMART repair should not cost much

MasterG83

Taking out more finance on top of having finance problems is a real mistake. do you have any cash surplus or emergency fund? Can you spend £1000 and get something for now  until you can save? 

SpaceCadet12

This is where I failed.  I did not stop my payments before going into my DMP.  I just wanted to get going so my savings are minimal.