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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Fiat Grande Punto Car Finance

Hi, I am looking at changing my Fiat Punto for a newer one. I have £4000 left to pay off on finance over the 3 years and the car is worth £2000. I Have no deposit to put down. How will this work out for me? Cheers

Posted by Mr R on

Answer.

Hi Mr. R, thank you for your question.
As you are in £2000 negative equity have you spoken with your current finance company to see if you could voluntarily terminate your current agreement (hand your car back)? This may get you out of the current situation you are in.
We do have lenders that can re-finance negative equity and help with new car finance. The issue is that £2000 is quite a large sum of negative equity, and it is very unlikely that we would find a lender willing to cover this amount.
If you can VT your current agreement, please let me know asap as we'd love to help you buy a new Fiat Punto :) Have a good evening. Edwin

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