Hi all,
The girlfriend currently has a focus on HP, she has only had it 13 months and now wants to get another car. She paid £5k for the car (1.6 Focus Zetec) + whatever APR it is via finance. She got the deal over 4 years (against my advice) and pays around £130 a month. Now, she wants either a Type R, 182 or a 325ci.
If she went to the dealer and they offered her £2.5k for the focus, she would still have x amount left to pay. Could she then refinance with the same company but pay more than the value of the car (which again, I think is stupid!) or would she have to settle the difference outstanding before getting the new car on finance?
Hope this makes sense and you can offer me your knowledge.
Cheers
The girlfriend currently has a focus on HP, she has only had it 13 months and now wants to get another car. She paid £5k for the car (1.6 Focus Zetec) + whatever APR it is via finance. She got the deal over 4 years (against my advice) and pays around £130 a month. Now, she wants either a Type R, 182 or a 325ci.
If she went to the dealer and they offered her £2.5k for the focus, she would still have x amount left to pay. Could she then refinance with the same company but pay more than the value of the car (which again, I think is stupid!) or would she have to settle the difference outstanding before getting the new car on finance?
Hope this makes sense and you can offer me your knowledge.
Cheers