Finance on a car

[Gracieglo]

Hi

A family member has bought a car on finance and paid the first three payments.

The car was bought for another person in the family but that person does not like it so the buyer wants to return the car and excepts that no money which has been paid will be returned and is ok about that.

The issue is will the finance accept the car back with no repercussion ??
and will it affect their credit rating for the future??

Hopefully they can return the car and have no credit rating against them for the future

Thank you

[Amethyst]

Re: Finance on a car

It is usually liability for 50% of the payments on VT. It will say on the contract, do you have a copy ?

[Gracieglo]

Re: Finance on a car

Thank you for your reply I will have to check with the family member
:doggieyes: