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Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
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Edwin Miles. Underwriting Manager

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Car Finance Repayment Problems

Hi Edwin, I bought a new car from a Vauxhall dealership in Sunderland during June of last year who arranged finance for me through Santander.

I put down an £8,000 deposit on a car worth in the region of £28,000. I was made redundant in December of last year and am now claiming Jobseekers Allowance.

I can't afford to keep up the repayments on my car so was wondering if you could give me some advice on how Santander could help me through this difficult time. Thank you and kind regards, Kevan

Posted by Kevan Paul Martin on


Hi Kevan, I hope you're well. Apologies for the delayed response.

In relation to your question the only way that Santander can help is if they can grant you a payment holiday which I don't know if this is possible or not. As you've put a large deposit into the deal you don't want them to take away your car for non-payment obviously. The only way out of the deal (as you've only had it 10 months) is to sell the car privately and clear the finance. You can then keep the equity as savings if you wish. One thing I'd advise though is to keep up your repayments of you can as you don't want this to affect your credit history.

If you need finance again on a cheaper car in the future please apply with us as we can beat dealer rates. Once approved with us we provide you with a no obligation quote and you can choose a car from any dealer nationwide. Kind Regards, Edwin

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