bracey123
Member
Registered: 24th Oct 08
Location: parkhead, Glasgow City
User status: Offline
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basicly i bought a vw golf back in april on finance, i no longer want the car or the finance, is it possible for me to end the agreement early???
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Ian W
Member
Registered: 8th Nov 03
Location: Wirral, Merseyside
User status: Offline
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Get a loan and pay it off is pretty much the only way unless you sell it and the buyer pays the finance company for you.
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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Yes, just contact the lender and ask for a settlement amount. Pay them the settlement amount, job done.
I did it a couple of months ago as I could get a personal loan with a (much) better interest rate than my finance agreement, so took out the loan and settled my finance with it.
Lotus Elise 111R
Impreza WRX STi
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bracey123
Member
Registered: 24th Oct 08
Location: parkhead, Glasgow City
User status: Offline
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is it possible for me to sell the car tho??? its a hire purchase agreement
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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You need to be up front with the buyer, and the buyer needs to settle the finance for you - or hand the money over and sit there watching you settle the finance, etc.
Lotus Elise 111R
Impreza WRX STi
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corsatdi
Member
Registered: 7th Nov 10
Location: Kent
User status: Offline
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Ive been thinking about going down the personal loan route, got misold the finance when i got the car and its now worth 4500 and i owe about 6000. Want to sell t and settle the difference as i dont use the car anymore. So essentially would loan the difference
[Edited on 01-11-2012 by corsatdi]
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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Chances are with only having the car this short time, the amount you'd get in a sale won't clear the outstanding, really depends on amount owed and car value.
[Edited on 01-11-2012 by Brett]
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Eck
Premium Member
Registered: 17th Apr 06
Location: Lundin Links, Fife
User status: Offline
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You'll find that the settlement figure will probably be about the amount the car initially cost you tbh. The first few months will be pretty much 100% interest you were paying.
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CORSA NUT
Member
Registered: 3rd Aug 01
Location: Wirral
User status: Offline
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Fucking purchase hire agreements! Are they still doing that shit? Got stung by one when I was about 20. NEVER again. God knows why you'd get one over a loan.
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John
Member
Registered: 30th Jun 03
User status: Offline
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Quite often it's cheaper to get the finance from a dealer. We have this conversation every time one of these threads comes up.
It's bad maths that causes the problem, not the product itself.
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corsatdi
Member
Registered: 7th Nov 10
Location: Kent
User status: Offline
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quote:
Originally posted by CORSA NUT
Fucking purchase hire agreements! Are they still doing that shit? Got stung by one when I was about 20. NEVER again. God knows why you'd get one over a loan.
Mine worked out at 17 odd percent and because i had no idea I just did it.... What a mistake
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by corsatdi
Ive been thinking about going down the personal loan route, got misold the finance when i got the car and its now worth 4500 and i owe about 6000. Want to sell t and settle the difference as i dont use the car anymore. So essentially would loan the difference
[Edited on 01-11-2012 by corsatdi]
please explain to me how you got mis-sold a shit finance deal?
anyone with a basic grasp of maths can add up how much it's going to cost them overall.
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corsatdi
Member
Registered: 7th Nov 10
Location: Kent
User status: Offline
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In a hurry to buy a car from a dealer as mine was fooked and didnt pay attention to the rates etc... When i got a settlement figure a few months ago I was well shocked. Thought it was a normal rate when really it was stupidly high. Misold probably wasnt the best word to use there, but that was my drift.
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John
Member
Registered: 30th Jun 03
User status: Offline
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quote:
Originally posted by John
It's bad maths that causes the problem, not the product itself.
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corsatdi
Member
Registered: 7th Nov 10
Location: Kent
User status: Offline
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Couldnt agree more John
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ed
Member
Registered: 10th Sep 03
User status: Offline
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Then you weren't miss-sold anything 
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MatthewR
Member
Registered: 21st Oct 02
Location: Rickmansworth
User status: Offline
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I had my car on finance, needed to sell due to a pregnant mrs so i got the settlement figure from Santander (my lender) got a quote from webuyanycar.com and it was £1k more than what i owed, sold the car to them, they paid off the settlement figure and i was left wih £1k in my bin, job done
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corsatdi
Member
Registered: 7th Nov 10
Location: Kent
User status: Offline
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quote:
Originally posted by ed
Then you weren't miss-sold anything
"Misold probably wasnt the best word to use there, but that was my drift."
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BarnshaW
Member
Registered: 25th Oct 06
User status: Offline
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you mis-purchased, not you were mis-sold
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