they say i must keep the vehicle for another 6months, i hate the car and have had nothing but trouble with it, does any one know hiw i go about getting another car and carrying the finance over?
2007-10-03 00:32:56 · 11 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
You have to read the small print, preferably before you sign. It depends completely on the wording of the credit agreement, but they could well be within their lawful rights to insist on this depending on what exactly you signed up for.
2007-10-03 00:36:18 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Before buying and financing a car you have to make sure what type of guarantee it has. If it is a used car, then the guarantee if only good for 6 months and you can't do much until the guarantee expires. If the car is new like 2007 or 2008, then you can return the car to the bank with all the documents that were given to you.
Since you do not mention if it is used or new, then trading a used car is not that easy. You will have to wait unless you go to a lawyer with all the documents from the financers, the dealer and the repairs and/or evidence of the trouble you are having with it. Then from there the lawyer will tell you what actions can be taken. I had a used car and the dealer claimed it was in good condition. It had a minor problem of overheating and the dealer promised me that their garage could repair it under the guarantee. So I went, the garage said no and I returned to the dealer and they claimed that they said no such thing and that the contract was only valid for 3 months. I was stuck with an overheating car. So you have to check the contract over before signing it and ask questions about maintenence/repairs and what is covered.
For a new car, many have good guarantees but limited. My daughter brought a new Outlander when she had to take it for the regular check ups, they charged her, she told me that it was in the guarantee. But she was able to return it because it was new, from the dealer and financed by a bank. That is another thing, if the financing company is private then you will have a problem in returning the car but if it is from a bank the bank then they can take it back.
2007-10-03 00:51:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Unfortunately if you buy a car on finance the car technicaly belongs to the finance company until you have paid it off. You could get a final settlement figure but it will almost certainly be more than you expect as they stick extra on. You could seek advice about the problems you've had with the car from Trading Standards if you think the car was not fit for the purpose for which it was sold. You could take out a loan to pay off the outstanding balance then sell the car but if it is as bad as you say you may not get much for it. It may be best to put up with it until the 6 months are up then sell it. Remember in future to take out a personal loan to buy a car as it isn't secured on the car and you can do what you want with it.
Good luck
2007-10-03 01:09:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If the agreement says you can't trade up, you're only hope is to find a loan that will let you pay off the old finance and buy another car. Once the old finance is paid off, you can sell the old car. The chances are that you can do the lot in one day, but beware of dealers being "helpful".
2007-10-03 00:37:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
They cannot prevent you from trading the car as long as you satisfy the terms of the loan. Something tells me however you will be in a major upside down situation if you were to get rid of it and may not be able to get financing because of this (owe way more than the car is worth). Sounds like you will be stuck with this car for some time yet...sorry
2007-10-03 07:47:18 · answer #5 · answered by stingray41042 3 · 0⤊ 0⤋
thats odd that they wont let you finance a different car. What company is it? I would call and talk with someone about the issues your having etc. I would also read thru your loan paper work and find out if there is a statement saying you cannot purchase another car.
2007-10-03 02:36:29 · answer #6 · answered by ♥Kempa♥ 4 · 0⤊ 0⤋
The finance employer is doing regardless of they'd to assemble the debt. enable them to return when you. they have no foundation to assemble the debt. Your significant situation is to maintain your credit checklist clean. for this reason get a replica of your credit checklist and write a protest letter to any agencies that are itemizing this as a foul debt. furnish a replica of your divorce decree. After it gets cleared be vigilant approximately monitoring your checklist thereafter...the finance employer would submit it as a foul debt many times. If this concern would not take place on your credit checklist, it particularly is incredibly no longer your concern. Write a letter to the finance employer explaining the situations and be accomplished with it. in the event that they do no longer give up and desist then hire a criminal expert to lead them to go away.
2016-10-06 00:41:46 · answer #7 · answered by ? 4 · 0⤊ 0⤋
Ask them for a settlement figure, then check out other car finance companies... they will pay off the remainder loan for you, and add it onto the loan for a new car you get from them...
If the remainder loan is too high, then it will be best for you to wait 6 months as they have said...
Hope you get it sorted.
2007-10-03 00:47:48 · answer #8 · answered by Shazza 2 · 0⤊ 0⤋
This is only my opinion, but maybe you can find somebody who would be willing to take over payments on your current vehicle. You might want to ask finance company's represenative about it.
2007-10-03 00:38:38 · answer #9 · answered by Mike M. 7 · 0⤊ 0⤋
That is absolutely absurd! You buy a car, finance it and they won't let you sell it??? Who are they? If you have a lease, that's different. If you purchased the auto, you can sell it at any time.
2007-10-03 01:00:38 · answer #10 · answered by carl l 4 · 0⤊ 0⤋