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Hello everyone,
The issue I have is the following; I have a PCP loan with black horse for the purchase of my family vehicle with I believe 5 monthly payments left as well as a final balloon payment.
My car car was taken to the garage today with which I received a phone call informing me that the head gasket needed to be changed at a cost of approx £1,600, even after this is done it may still not clear the issue and therefore will require a new engine £6,000
therefore i could in worst case end up paying £7,600 in total, there is around £8,500 left on the loan and once the last few monthly instalments are made it will leave me a balloon payment of around £7,500. There’s no way that I can afford to pay for the works to be carried out as well as continue to keep up the monthly repayments.
It was only today today that I learned of the VT, so I was wondering if anyone could give me a bit of advice as to how to go about it and handing the vehicle back?
I’ve always maintained the vehicle and take it to hendy fords for mot’s and services, which the last service was in July.
Thanks for reading
matthew bell
The issue I have is the following; I have a PCP loan with black horse for the purchase of my family vehicle with I believe 5 monthly payments left as well as a final balloon payment.
My car car was taken to the garage today with which I received a phone call informing me that the head gasket needed to be changed at a cost of approx £1,600, even after this is done it may still not clear the issue and therefore will require a new engine £6,000
therefore i could in worst case end up paying £7,600 in total, there is around £8,500 left on the loan and once the last few monthly instalments are made it will leave me a balloon payment of around £7,500. There’s no way that I can afford to pay for the works to be carried out as well as continue to keep up the monthly repayments.
It was only today today that I learned of the VT, so I was wondering if anyone could give me a bit of advice as to how to go about it and handing the vehicle back?
I’ve always maintained the vehicle and take it to hendy fords for mot’s and services, which the last service was in July.
Thanks for reading
matthew bell
