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Hello all,
I am new to this forum. My query is - My wife has had her working hours reduced to part time therefore we cannot afford repayments on a car. I wrote to finance company to advise them of this and to collect car.
Currently we are 2 years into a 5 year finance agreement. We have paid £7861 and half the purchase price is approx. £10050.
The finance company wrote back stating we are entitled to sell the car privately and obviously pay them back or they will come and collect the car then sell it.
Should we struggle on until we have paid half the car? Which will be in 6 months time then give it back or will selling the car take it up to half of the purchase price . Any comments or advice welcome.
Thanks
I am new to this forum. My query is - My wife has had her working hours reduced to part time therefore we cannot afford repayments on a car. I wrote to finance company to advise them of this and to collect car.
Currently we are 2 years into a 5 year finance agreement. We have paid £7861 and half the purchase price is approx. £10050.
The finance company wrote back stating we are entitled to sell the car privately and obviously pay them back or they will come and collect the car then sell it.
Should we struggle on until we have paid half the car? Which will be in 6 months time then give it back or will selling the car take it up to half of the purchase price . Any comments or advice welcome.
Thanks
