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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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Return Car After Purchase

Hi there, I have a problem but am not with you for loan purposes. We brought a car a year ago under a 3 year finance agreement with Ford. We have lost some major works with our company and are now seriously struggling to pay the monthly amount with the last 2 payments being really late. We are going to have to cancel this agreement but do I go to a garage and ask them to buy the car back or what is the best step forward. I am very stressed about this as I will still need a car for the children but I just don't know if I should sell privately or should I go to a garage to sell this one and buy a cheaper one or should I get a private loan to buy another one? Thank you. Suzanne

Posted by Suzanne Simpson on


Hi Suzanne, how much do you owe on the finance agreement and what is your car worth (trade value)? We could take the car off your hands, settle the finance (as long as you're not in too much negative equity - if any) and get you into a cheaper car. If you wanted to sell the car you may get more money for it privately but who knows how long it'd take you to sell etc. Keep up your payments for now so it doesn't effect your chances of securing a new finance agreement :-) Come back to me with the info i have requested and we'll go from there. Regards, Edwin

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