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Thread: Finance Question

  1. #1
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    Default Finance Question

    What happens when you have a car on finance but are looking to buy another car which is less than the trade-in price but the trade-in price is less than the amount owed on the agreement........ if that makes sense

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    Regular Member fenderguitar's Avatar
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    The garage would probably make up a new finance deal.Paying off you current loan.Adding the diifference owed and what they are offering you for your car, to you new purchase.

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    Regular Member Tadpole's Avatar
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    They will be quite helpful I should think, good luck .......

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    Tam have you no just bought an Astra a few weeks ago? lol

    Gazza4
    Last edited by GazVXLINE170; 14th March 2009 at 12:17.

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    Full Member neverlandandy's Avatar
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    think this is what they call negative equity

  6. #6
    Full Member Big Sig's Avatar
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    you could end up with the finance being more than the cars value, plus the interest on top of that.
    Now I need a turbo to keep up!

  7. #7
    Regular Member steve1975l's Avatar
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    Quote Originally Posted by Big Sig View Post
    you could end up with the finance being more than the cars value, plus the interest on top of that.
    When I was looking around for my last car I came across one that fitted the bill but it had finance on it. If I was to buy it the owner had to pay the finance company just over 5k and he had owned it nearly 2 years.

    Finance =

  8. #8
    Full Member Big Sig's Avatar
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    Yep, mines on finance. Never. EVER again!
    Now I need a turbo to keep up!

  9. #9
    Regular Member Penfold101's Avatar
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    Bank loan or 0% interest credit cars - I paid a couple of months' worth of interest when I cashed a credit card cheque to give me the cash to pay off the loan, then transferred it onto another card for no interest payments for a year...

    Great if you've got the credit history to be able to do it, as it saves on interest and means there's nothing secured against the car...

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