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Old 1st April 2011, 19:48   #1
jay-vtr
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Hey people!

Hope your enjoying the start of your weekends, I have a query about my car finance...

I have a policy with Santander...

I have a current settlement figure of £4109

I have £4000 in the bank and no more money going out until payday.

Do you think they would let me settle at £4000 and write off the other £190?

I know it's a long shot but otherwise i have to pay another months finance and then pay it off boohoo
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Old 1st April 2011, 19:51   #2
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Phone them and ask for a settlement figure you will be shocked as to how low it could be.

Companies dont want the debt they would rather have the money as obv the interest is calculated over the remaining months so dont tell them how much you have just ask for a settlement figure its quite likely it will be between 3-3.5k.
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Old 1st April 2011, 19:51   #3
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Phone up/go in and ask, only way you will find out lol
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Old 1st April 2011, 19:53   #4
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My settlement is £4190, i have already phoned and asked. Just wondered if they would write off £190 to get their money sooner
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Old 1st April 2011, 19:54   #5
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They might do, some companies prefer getting it all back early and some don't, mainly due to the interest they will lose out on if you settle early
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Old 1st April 2011, 19:55   #6
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Originally Posted by jay-vtr View Post
My settlement is £4190, i have already phoned and asked. Just wondered if they would write off £190 to get their money sooner
I highly doubt it.
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Old 1st April 2011, 20:00   #7
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No , they will just stick the figures they give you.

Pay one more payment & get it under £4k

They have a contract with you at an agreed rate.
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Old 1st April 2011, 20:08   #8
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No , they will just stick the figures they give you.

Pay one more payment & get it under £4k

They have a contract with you at an agreed rate.
I've paid two months payments thinking the settlement figure would go down but it has gone from £4380 now down to £4190

So if i pay another £158 monthly payment i doubt it will go down by £158

Finance is shit, Can't wait to get it paid off
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Old 1st April 2011, 20:09   #9
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Front loaded interest is how a loan works.

2 more payments & it will be under £4k
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Old 1st April 2011, 20:20   #10
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Front loaded interest is how a loan works.

2 more payments & it will be under £4k
Bugger that i'll borrow £190 and get it paid off on Monday lol. That way I'll pay it off two months early and save £126 which can go towards paying back the £190 borrowed from a mate.

Payday on the 28th, It will be nice not to have finance going out the following day for a change
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Old 1st April 2011, 20:47   #11
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Is that on your saxo?
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Old 1st April 2011, 21:10   #12
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my ex had his car on finance he rang other week and asked how much it would be to settle it and they let him off by £300 so it's worth a try .
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Old 1st April 2011, 21:26   #13
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Is that on your saxo?
No mate i have an Astra SRI XP, Had it 9months.... not to keen on having 4 years finance so saved up to pay it off early... I only borrowed hald the money for the car so it's been easy saving to clear the finance
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