Can a finance company repossess your vehicle or car?

Hi Summer, unfortunately if you don't keep up the repayments on your current car then yes a finance company can repossess the vehicle. However, if you're struggling with the monthly repayments i'd strongly advise that you call up your current finance company and see if you can arrange a payment holiday or a reduction in your monthly payments for say, 6 months. Always pre-empt the situation and always communicate with the finance company as if you don't they will assume the worst. What has caused the recent mis-payments? Is there a valid explanation? Kind Regards, Edwin

Posted by Edwin Miles on 19/10/2011 @ 09:03

Hi Arlene - thank you for your question and i'm sorry to hear about your current position. I need to understand a little bit more about your finances before i can give any constructive advice. Are you missing payments due to being out of work etc? If you are out of work do you have any payment protection insurance? If not, have you spoken with your current finance supplier and discussed a payment holiday for example or the possibility of paying the money back over a longer term? Kind Regards, Edwin

Posted by Edwin Miles on 28/02/2012 @ 20:30