User Tag List

Thanks Thanks:  0
Likes Likes:  0
Page 1 of 3 123 LastLast
Results 1 to 10 of 26

Thread: finance

  1. #1
    On a Sabbatical
    Join Date
    Mar 2009
    Location
    caistor
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats





    Default finance

    wondering if anyone can help i got my car on finance last year. it cost me £11000 i now owe about £9000. i have just lost my job and can no longer afford the £40 a wek i was paying. the car is worth about £4000 if that. basically i dunno what to do if i dont pay will they take the car off me but even if they do that like i said there is a big difference with the amount its worth and the amount i owe. its also modified will that make a difference. can i offer them a smaller amount. i dunno what to do.

    can anyone help

    p.s i dont have gap insurance

  2. #2
    Ex Vec-C Admin Deztroyer's Avatar
    Join Date
    Jan 2009
    Location
    WGAF#5
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats





    Default

    contact the finance company straight awaty and tell them you have lost your job - they may give you some period of grace whilst you can sort out what you need to do - the last thing you want is to fall behind on your repayments and have the car reposessed
    also remember the finance company will want the car back as it was sold

    0-Large smile ......every time it's driven

  3. #3
    Regular Member paul wingnut's Avatar
    Join Date
    Mar 2009
    Location
    durham
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats

    Vehicle : vectra sri 150


    Engine : 1900 cdti 150

    Year : 2008

    Default

    how long did you take the finance over m8 its in the small print that once you pay a certain amount you can hand it back to them without any penalty i think its something like if its a 3 year deal you can hand it back after about year and a half might be worth giving them a ring .how come its only worth 4 grand if you owe 9 sounds like you might of being stiched up at the start m8 .

  4. #4
    On a Sabbatical
    Join Date
    Mar 2009
    Location
    caistor
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats





    Default

    i bought my vectra for 7999 and plus the finance from stoneacre put it to 11000 yeh i got stitched up and i have it over 5 years and have owned it for nearly 2

  5. #5
    Regular Member hoochydady's Avatar
    Join Date
    Jan 2010
    Location
    glasgow
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats





    Default

    id say off the top of my head your looking at about 5k-7k being paid before u can hand it back may be a little less phone them up explain the situ you are in they may try and get a lower intrest for u and it will lower the payment oh and it will be on the agrement how much u need to pay before u can hand it back

  6. #6
    Regular Member Keithy's Avatar
    Join Date
    Jan 2008
    Location
    Dundee
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats





    Default

    I think if you have payed half the term they wont take the car from you. I maybe wrong.

    Gap insurance is only for paying the shortfall of what is due on the car if it is written off and has nothing to do with PPI (payment protection insurance)

  7. #7
    On a Sabbatical
    Join Date
    Mar 2009
    Location
    caistor
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats





    Default

    i havent paid nowhere near half

  8. #8
    Regular Member Keithy's Avatar
    Join Date
    Jan 2008
    Location
    Dundee
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats





    Default

    your best bet is to call them. They should be able to help you. But beware they might offer you a lower payment at a longer term which means you'll end up paying something silly like 15k for your car

  9. #9
    Regular Member m8internet's Avatar
    Join Date
    Dec 2006
    Location
    Cumbernauld, Scotland
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats





    Default

    Quote Originally Posted by Keithy View Post
    I think if you have payed half the term they wont take the car from you
    Once you have paid at least 50% then the finance company has to take the matter to court in order to repossess the car
    If less than 50% has been paid then they can repossess the car at ANY time (although there must be "reasonable grounds" for doing so)

    As above, phone the finance company NOW
    The usual process is they will ascertain how likely you are to retain an income within the next three months
    After three months the agreement will be terminated and the vehicle returned to them
    However, if the car is valued at £4000 and the outstanding finance is £9000 then the finance company will pursue separately for the difference of £5000

  10. #10
    Regular Member
    Join Date
    May 2007
    Location
    West Yorkshire
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0
    Post Thanks / Like
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Vehicle InfoStats





    Default

    Quote Originally Posted by m8internet View Post
    However, if the car is valued at £4000 and the outstanding finance is £9000 then the finance company will pursue separately for the difference of £5000
    Yup, however you will be liable for the difference between owed and the price they sell it for, not it's worth, could be a massive difference. Speak to them straight away and good luck.

Page 1 of 3 123 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. What to do in regards to my finance
    By aerodynamic18 in forum Vectra C / Signum Car Chat
    Replies: 9
    Last Post: 17th November 2011, 18:45
  2. finance
    By toughmat in forum General Chat
    Replies: 2
    Last Post: 30th May 2009, 13:59
  3. ppc on finance?
    By mat100edt in forum Petrol Engine related
    Replies: 10
    Last Post: 21st December 2008, 15:15
  4. Do I pay the finance off...?
    By RobDMX in forum General Chat
    Replies: 6
    Last Post: 22nd March 2008, 01:23
  5. PCP or Finance
    By markm in forum General Chat
    Replies: 7
    Last Post: 17th July 2007, 12:58

Visitors found this page by searching for:

Nobody landed on this page from a search engine, yet!

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •