Help car finance loan

[Guest sophi]

Hi can someone please help me, we are intending to move back to the uk in the next few months, my hubbie has finance on a car and phoned them to see if he could sell it and pay the remainder off in installments, they told him no that it all needs to be cleared in one balance!! needless to say we dont have an extra $8-$10 thousand spare. We are now very worried as what to do.as the loan is nearly twice what the van is worth:arghh: we really want to go home, does anyone know the law and is there another way round this!!!!! If you dont have the money, what can they do?????

[byrned]

Hi can someone please help me, we are intending to move back to the uk in the next few months, my hubbie has finance on a car and phoned them to see if he could sell it and pay the remainder off in installments, they told him no that it all needs to be cleared in one balance!! needless to say we dont have an extra $8-$10 thousand spare. We are now very worried as what to do.as the loan is nearly twice what the van is worth:arghh: we really want to go home, does anyone know the law and is there another way round this!!!!! If you dont have the money, what can they do?????

 

Cant you get a loan from the bank to pay the car finance company, then at least you can sell the van, and what you make pay it to the bank, then make arrangements to pay the bank back when you are in the UK, or do you have a credit card to pay the car finance company, could you not get anyone to take over the debt for you who wants the van, i am sure there is a website that advertises cars for sale with outstanding loans on them where you can buy a vehicle and take on the debt, buy I am not sure where I heard about it, do a google ie cars for sale with outstanding finance on them, or ask you finance company.

[byrned]

Hi forgot to say as well if you cannot do any of the above contact the finance company and hand them back the keys with the car, I think they then sell it at the auction, and you will then be left with the difference to pay back.

[Guest sophi]

Thanks for the reply, got it soeted the fist lady we wer talking to was talking through her A###. got it sorted :biggrin::biggrin:

[byrned]

Thanks for the reply, got it soeted the fist lady we wer talking to was talking through her A###. got it sorted :biggrin::biggrin:

 

Hi Sophi glad you got it sorted, there is always away around most things,

 

It reminded me of my sister she spent three years for her and her hubby (no kids) to go to Cananda with visaa and everything, anyway they got a rented apartment, bought a few basics for it ie toaster plates and stuff, she got a pretty good job as a trainer in a large company, got a brandnew car on finance because they did not have a lot of money, they did all this within a week of landing in Canada so were set basically, anyway 5 weeks later she is on my doorstep back in england, she did not give notice on her apartment, wrote a few letters with all keys back in envelopes, pushed one through the estate agents, one for the garage where she bought the car drove the car to the garage, wrote a letter to the finace company saying the car was back at the garage, wrote a letter to the company where she had the job, and was back on the plane back to england the following morning. I think she must be in the top three quickest there and back stories I have ever heard, we often have a laugh about it now. Anyway good luck with your move back to UK and have a good summer.