Query

Wibbledog

We are on a DMP but about a year and a half ago we got a car on a "Bubble payment" deal. The cost is now too great for us to support but if we just give the car back we will still owe about 3 grand (which we obviously cannot afford) and we cannot afford to sell it as we will still be short of the total owed. So does anyone have any suggestions?

Brian_Bullocks

What is a "Bubble payment"?

Wibbledog

Where there is a large "bubble" payment at the end of the deal to finish paying it off instead of a large deposit upfront.

Wibbledog

Even if we were to sell it we would still come up short on what we owe.
This could actually break us if we can't do anything about it.

redmel1621

Have you tried speaking with your dmp advisor...
They maybe able to negotiate a return agreement with the car company so you don't end up owing 3k. Maybe half the amount which could then be paid back in a managable way in with your dmp.

I sympathise wholeheartadly with you....we were in a similar predicament with our car.

Mel x