Soldato
A friend is going through a messy divorce and has an 05 WRX Impreza.
She owes about £8K on finance on the car and needs to sell it as soon as possible. Knowing my love for scoobs she's offered it to me but most I'll give her is £5K (needs major + belt and history has been lost) so unless she finds a way to pay the finance off first I can't buy it.
If she went to the finance company and said she can't pay anymore will they just take the car away? Will they take her to court?
If the finance company will just take the car off her shes better off doing that but if they'll take her to court and punish her financially shes better off using 2 or 3 cards to pay the finance company (if they allow credit card payments) and once the car is in her name I'll buy it from her. Better to service a £3K debt on 0% than an £8K debt on 8%.
However, we need to establish what will happen if she just stops paying.
(Please no why did she do it in the first place remarks, its clearly a poor deal)
She owes about £8K on finance on the car and needs to sell it as soon as possible. Knowing my love for scoobs she's offered it to me but most I'll give her is £5K (needs major + belt and history has been lost) so unless she finds a way to pay the finance off first I can't buy it.
If she went to the finance company and said she can't pay anymore will they just take the car away? Will they take her to court?
If the finance company will just take the car off her shes better off doing that but if they'll take her to court and punish her financially shes better off using 2 or 3 cards to pay the finance company (if they allow credit card payments) and once the car is in her name I'll buy it from her. Better to service a £3K debt on 0% than an £8K debt on 8%.
However, we need to establish what will happen if she just stops paying.
(Please no why did she do it in the first place remarks, its clearly a poor deal)
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