Finance on a car...

[Dan-SRi]

Just a quick question really...
If someone had finance on a car, and a couple of months in they found out they couldnt afford it, can they just ring up the finance people and say "sorry i cant afford it," Then they take the car away and you pay nothing.
Reason is; i remember reading it somewhere on here and was just curious.

[KamRacing]

There will be something in the contract to say what will happen. Most likely you would be charged some fee to end the contract early.

[Jordysport]

better off tbh to get a loan or save to you actually have the money and pay outright. :y:

[kclipston]

when my brother couldn't afford it anymore he rang the company and told them, he still had to pay quite a large cancellation fee (not sure how much) but they took it as a direct debit monthly (bit like they would anyway)..... i really doubt it that you can just give the car back without paying anything

[Shauno_Saxo]

If people can't afford something then they shouldn't have it IMO :)

[Dan-SRi]

Cool, cheers for the answers. just remember seeing an thread on here with someone saying they had a guy collect their saxo because they couldnt afford to pay it...

[Bickerton]

Usually you can hand the car back but still owe half of the complete finance total

[Lewis1600]

Cool, cheers for the answers. just remember seeing an thread on here with someone saying they had a guy collect their saxo because they couldnt afford to pay it...

Wasnt that Louis?? he had a stuble Silver VTR? slammed?

Now he has a Golf mk3 gti???

[RedeXStylE]

Finance is bollocks. Save up until you can afford it or get a loan.

[blackie_2k5]

as bickerton sais, its normally half the value of the finanace, so if at the halfway point of paying you decide you do not want or cannot afford the car any longer you can give it back, if you have it a few weeks and decide this you will probably still have to pay half the value of the finance, if you cannot pay it outright further interest will be added to pay monthly, bollox really, totally depends on the terms of the finance company.

[Bickerton]

If you've gone with Welcome finance, /enjoy ;)

[blackie_2k5]

.............

[Bickerton]

Or get a bank loan

[blackie_2k5]

+1!!!!