Car financing issue

I think you may just have to suck it up, you've bought a car and want to change it after less than a year but don't have the finances to do so, I mean you didn't really have the finances to afford it in the first place anyway from what you've said, so I'd just be grateful that you have a car at all. That may sound a bit harsh but I'm just laying it out there, you had £1500 to spend and are sat in a car worth presumably somewhere north of the low-ball £3500 offer you received. Had you not got support from parents you likely wouldn't have been in such a car to begin with.
 
shealsosaid said:
After speaking to the dealership where I financed it, they only offered me £3500 for the car and the current settlement figure is £7800
Click to expand...

Hang on,

You bought an Adam with a £1,500 deposit 10 months ago, the settlement is £7,800 after 10 repayments have been made, and it's now only worth £3,500

Vauxhall stopped making them in 2019, so it can't have been a new one, and cars loose most of their depreciation in the first three years.

Something doesn't add up. Second hand cars don't drop 50% after 10 months. The only thing I can think of it that you paid far too much for it, financed it with as low a monthly payment as possible on a very high interest rate (well your parents did).

I don't know all the figures, but I would guess that car has cost you £700 a month in real terms.

I'd get it fixed and keep it. If you sell and buy yet another car, you are back on the merry go round for a third time.
 
Last edited:
doesn't really add-up.

but if it's real, you need to either take it to garage to get it fixed or get rid, pay off the loan over time and get something cheap. a £2k yaris, micra etc will go on for ever on little money.

why do people with no money jump into finance agreements is above me.
 
Last edited:
You must log in or register to reply here.
Back
Top Bottom