Finance question???

Pleas can any one help me on my finance question/?

• Your Open Question Show me another » I have finance on a car? i really need help, i have a £14,000 bubble on finance left on my car, i need to pay this by 23rd march 2012. the problem is i went to trade with the same company and my credit score is so low because ive just left my husband, no bank or loan company can help, the car finance wont finance the remaining amount so im really stuck! i am scared i will get a default and then wont be able to rent a home in the future as the flat i am renting the lease is up in august. i can raise £8.000 but the company have said this is no good, how long after the due date do i have before i get more problems, or any other ideas pls? if i keep transferring money to the company is this better than not doing anything? i really need advice uk answers please 17 minutes ago - 4 days left to answer. Additional Details if i give the car back how is this going to help me surly this will go against me just as much as a default? 1 second ago

• Answer:

  If you can't afford the car, return it as a car is not an essential item and it's not worth getting into debt for. Don't buy a car in the future unless you can afford the finance of it. If you can't pay the full amount by the date you mention, don'tgive them any more money and return the car. Get it in writing from them that this is in full and final settlement. Look at the paperwork you got when you took out the finance to understand the consequences of returning the car and not paying anything else versus continuing to pay something (even if it's not enough).