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We got our car from Ford and we paid £6000 in full as a deposit. Then we agreed to finance the remainder over 13 months however, we couldn't afford this so we said we could do it over two years.
All was agreed, the papers signed and then last week a letter came saying that the agreement has been cancelled and they are coming to take the car back. The reason is that i am the one that drives as my husband hasn't got a driving licence.
What can we do? I am unable to get credit so that is why the car is in my husbands name. Please help! If i have no car i will lose my job as i work in the community and my job states that we have to have own car. Thank you
I understand your predicament and i'm confident that we can help. How much do you need the loan for to clear the current balance? We can indeed help people settle current finance agreements but i'd like to understand what yours or your husbands credit history is currently like?
You say that Ford want to come and take the car back and i can only assume that's because you aren't making the monthly payments. Is this the case? Also, we can help people without driving licences (i.e - your husband) but he'd need to have good credit.
In relation to both of your questions i'd like to think we can help. In answer to the first one - Yes we can re-finance the remaining balance on your finance agreement. Do you have an exact settlement figure and date it needs clearing by? In answer to your 2nd question the age limit is 70 years old. I hope you fall under this. Please apply when you feel ready. Kind regards, Edwin
Hi, I have had a car for almost 4 years now and have tried to keep up with the repayments but since being made redundant my income has lowered and I am struggling to repay on time - the finance agreement ends next year but i will still owe money obviously.
Plus I have interest added every month and charges when I am unable to pay it all and this is just adding to the bill. Am I able to refinance my car and keep it to pay off my existing finance company and pay a new finance agreement over the next 2 years?
If you are in current arrears with your car finance company we may well struggle to re-finance your deal. How many payments have you missed? The problem is that lenders will think if you can't pay for your car now what will change in the near future?
We can re-finance deals as a business but we need to be able to get you approved first. How much income do you have each month and can you prove this with bank statements etc? Are you in employment again or are you out of work? If you are out of work then that is another negative factor i'm afraid.
If you had a good credit history then we may be able to help but it doesn't sound like we will. Please let me know if i have mis-read the situation. Kind Regards, Edwin