youngsyd

Hello.

My mate has a Focus and he cant afford to pay for the car anymore, as he is having ex missus problems...anyway..

He hasnt paid more than a 1/2 of the finance off yet, can you still hand the car back, and the pay off the balance monthly, after they have taken the car to auction?

I dont know so i thought id ask on here 1st...Cheers

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skorob2007

As far as I know, he can actualluy sell the car privately which will net him more than what it would fetch at auction, providing he pays the balance left in full.He can also ask the finance company for a discount off the amount due if paid in full, which should be a few hundred quid off.He may even end up with some dosh in his pocket if he does that, rather than just hand it back.

youngsyd

I think he owes more than the car is worth though...like a few grand more

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Blood runs through our veins, thats where all similarities end....

skorob2007

Aaah, so he's in the $hite then....In that case, if he hands it back , they will sell through auction and give him a settlement price which he can offer to pay monthly.
I bought a caravan about 6 years ago and due to illness and having to give up my business, had to get rid - it was either the caravan or the car and I needed the car more.
They took the caravan back and it sold at auction, and they let me pay the balance due - more than I'd actually paid screen price for it before they added their interest!!! - monthly.To be a complete pain in the ar$e, I offered them £5 a month to which they agreed!!!

youngsyd

hehe

Ok so that sounds like what he wants to do.. ill Pass that on, Cheers

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Blood runs through our veins, thats where all similarities end....